REGISTERED NUMBER: 09995464 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

MH Goals Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Harrod

Mr D M Harrod

Mr M W Harrod

REGISTERED OFFICE:

Unit 7a Ellough Industrial Estate

Ellough

Beccles

Suffolk

NR34 7TD

REGISTERED NUMBER:

09995464 (England and Wales)

ACCOUNTANTS:

CUNNINGHAMS

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

FIXED ASSETS

Tangible assets

4

291,853

269,821

Investments

5

2,050

2,050

293,903

271,871

CURRENT ASSETS

Stocks

345,000

265,000

Debtors

195,338

404,169

Cash at bank and in hand

767,992

655,402

1,308,330

1,324,571

CREDITORS

Amounts falling due within one year

608,221

622,838

NET CURRENT ASSETS

700,109

701,733

TOTAL ASSETS LESS CURRENT LIABILITIES

994,012

973,604

CREDITORS

Amounts falling due after more than one year

(28,257

)

(36,303

)

PROVISIONS FOR LIABILITIES

(66,604

)

(61,099

)

NET ASSETS

899,151

876,202

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

899,051

876,102

899,151

876,202

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 directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr M Harrod - Director

1.	STATUTORY INFORMATION

MH Goals 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.

TURNOVER

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, other sales taxes and is recognised as goods and services are sold.

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.

Short leasehold

-

over term of lease

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

15% on cost

Computer equipment

-

15% on cost

INVESTMENTS IN ASSOCIATES

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it it impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

408,043

Additions

76,412

Disposals

(1,870

)

At 31 December 2024

482,585

DEPRECIATION

At 1 January 2024

138,222

Charge for year

54,170

Eliminated on disposal

(1,660

)

At 31 December 2024

190,732

NET BOOK VALUE

At 31 December 2024

291,853

At 31 December 2023

269,821

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2024

122,470

Additions

49,718

At 31 December 2024

172,188

DEPRECIATION

At 1 January 2024

7,327

Charge for year

20,245

At 31 December 2024

27,572

NET BOOK VALUE

At 31 December 2024

144,616

At 31 December 2023

115,143

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

2,050

NET BOOK VALUE

At 31 December 2024

2,050

At 31 December 2023

2,050

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

55,193

60,460

The hire purchase liabilities both less than and more than one year are secured on the underlying assets.

7.	OTHER FINANCIAL COMMITMENTS

At the accounts date, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £371,013 (2023 - £478,324).

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2024 and 31 December 2023 :

31.12.24

31.12.23

£

£

Balance outstanding at start of year

4,100

-

Advances

8,464

4,100

Balance outstanding at end of year

12,564

4,100

During the year interest of £206 (2023 - £nil) was charged on amounts advanced to the directors.