Company registration number: 12864260
Unaudited financial statements
for the year ended 30 September 2024
for
Mg Greenheat Renewables Limited
Pages for filing with the Registrar
Company registration number: 12864260
Mg Greenheat Renewables Limited
Balance sheet
as at 30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 14,312 12,108
14,312 12,108
Current assets
Stocks 7,500 7,500
Debtors 42,040 120,193
Cash at bank and in hand 4,260 4,864
53,800 132,557
Creditors: amounts falling due within one
year
(25,038) (71,728)
Net current assets 28,762 60,829
Total assets less current liabilities 43,074 72,937
NET ASSETS 43,074 72,937
Capital and reserves
Called up share capital 300 300
Profit and loss account 42,774 72,637
TOTAL EQUITY 43,074 72,937
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 September 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 12864260
Mg Greenheat Renewables Limited
Balance sheet - continued
as at 30 September 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr M Hand, Director
27 June 2025
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Mg Greenheat Renewables Limited
Notes to the financial statements
for the year ended 30 September 2024
1 Company information
Mg Greenheat Renewables Limited is a private company registered in England and Wales. Its registered number is 12864260. The company is limited by shares. Its registered office is Greenheat Renewables, Unit 8, Grantham, Lincolnshire, NG31 7BG.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33.3% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Mg Greenheat Renewables Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 4).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 October 2023 15,662
Additions 3,417
At 30 September 2024 19,079
Depreciation
At 1 October 2023 3,554
Charge for year 1,213
At 30 September 2024 4,767
Net book value
At 30 September 2024 14,312
At 30 September 2023 12,108
If Plant and Machinery had not been revalued, Plant and Machinery would have been included at the following historical cost:
2024 2023
£ £
Cost 19,079 15,662
Accumulated depreciation 4,767 3,554
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Mg Greenheat Renewables Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
5 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023.
2024 2023
£ £
Mr M Hand
Balance outstanding at start of year 7,821 37,699
Amounts repaid (6,891) (29,877)
Balance outstanding at end of year 931 7,821
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