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REGISTERED NUMBER: 01877882 (England and Wales)














M.G.B. HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


M.G.B. HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr M G Barnes





SECRETARY: Mr M G Barnes





REGISTERED OFFICE: 4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN





REGISTERED NUMBER: 01877882 (England and Wales)





ACCOUNTANTS: Marsh Accounting Limited
Chartered Accountants
4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M.G.B. HOLDINGS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M.G.B. Holdings Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of M.G.B. Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M.G.B. Holdings Limited and state those matters that we have agreed to state to the director of M.G.B. Holdings Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M.G.B. Holdings Limited and its director for our work or for this report.

It is your duty to ensure that M.G.B. Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M.G.B. Holdings Limited. You consider that M.G.B. Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M.G.B. Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Marsh Accounting Limited
Chartered Accountants
4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN


Date: .............................................

M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 360,931 360,987
Investments 5 860,570 682,097
1,221,501 1,043,084

CURRENT ASSETS
Debtors 6 41,105 10,599
Cash at bank 8,392 29,578
49,497 40,177
CREDITORS
Amounts falling due within one year 7 142,511 97,689
NET CURRENT LIABILITIES (93,014 ) (57,512 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,128,487 985,572

CAPITAL AND RESERVES
Called up share capital 8 53,375 53,375
Revaluation reserve 9 100,000 100,000
Fair value reserve 9 819,966 641,493
Retained earnings 9 155,146 190,704
SHAREHOLDERS' FUNDS 1,128,487 985,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 July 2025 and were signed by:





Mr M G Barnes - Director


M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

M.G.B. Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - No depreciation is provided
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost. These investments are revalued to fair value through profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 360,931 10,000 370,931
Disposals - (10,000 ) (10,000 )
At 31 December 2024 360,931 - 360,931
DEPRECIATION
At 1 January 2024 - 9,944 9,944
Eliminated on disposal - (9,944 ) (9,944 )
At 31 December 2024 - - -
NET BOOK VALUE
At 31 December 2024 360,931 - 360,931
At 31 December 2023 360,931 56 360,987

Cost or valuation at 31 December 2024 is represented by:

Freehold
property
£   
Valuation in 2021 100,000
Cost 260,931
360,931

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2024 682,097
Revaluations 178,473
At 31 December 2024 860,570
NET BOOK VALUE
At 31 December 2024 860,570
At 31 December 2023 682,097

M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2018 40,604
Valuation in 2019 127,459
Valuation in 2020 35,661
Valuation in 2021 174,992
Valuation in 2022 168,510
Valuation in 2023 134,871
Valuation in 2024 178,473
860,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 300 300
Other debtors 40,805 10,299
41,105 10,599

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 249
Amounts owed to group undertakings 108,431 70,610
Taxation and social security 33,215 25,520
Other creditors 865 1,310
142,511 97,689

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
27,120 Ordinary A £1 27,120 27,120
4,240 Ordinary B £1 4,240 4,240
4,785 Ordinary C £1 4,785 4,785
100 Ordinary D £1 100 100
17,130 Ordinary E £1 17,130 17,130
53,375 53,375

M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2024 190,704 100,000 641,493 932,197
Profit for the year 242,904 242,904
Dividends (99,989 ) (99,989 )
Reserve Transfer (178,473 ) - 178,473 -
At 31 December 2024 155,146 100,000 819,966 1,075,112

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is a loan of £18,359 (2023: £nil) to Mr M G Barnes, a director and shareholder of the company. Interest has been charged on this loan in accordance with HMRC official rates. This loan is repayable on demand.

11. RELATED PARTY DISCLOSURES

Rent receivable includes £40,382 (2023: £61,870) from South Coast Catering Equipment Limited and £51,791 (2023: £60,099) from South Coast Catering Equipment (Service) Limited, the subsidiary companies.

At the balance sheet date £35,692 (2023: £15,214) was due to South Coast Catering Equipment Limited, a subsidiary company.

At the balance sheet date £72,739 (2023: £55,396) was due to South Coast Catering Equipment (Service) Limited, a subsidiary company.

At the balance sheet date £300 (2023: £300) was due from Hansens Kitchen Equipment Limited, a subsidiary company.

Included in other debtors is a loan of £5,000 (2023: £nil) to Mr P J Barnes, a shareholder of the company. This loan is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M G Barnes, a director and majority shareholder.