REGISTERED NUMBER: 12106744 (England and Wales)

MGBC HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D McGuinness

S McGuinness

K M McGuinness

REGISTERED OFFICE:

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

BUSINESS ADDRESS:

4 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

REGISTERED NUMBER:

12106744 (England and Wales)

AUDITORS:

Miller & Co

Statutory Auditor

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

FIXED ASSETS

Investment property

5

410,000

410,000

CURRENT ASSETS

Cash at bank and in hand

4,658

4,675

CREDITORS

Amounts falling due within one year

6

18,420

314,754

NET CURRENT LIABILITIES

(13,762

)

(310,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

396,238

99,921

CREDITORS

Amounts falling due after more than one year

7

(225,370

)

-

PROVISIONS FOR LIABILITIES

(25,472

)

(25,472

)

NET ASSETS

145,396

74,449

CAPITAL AND RESERVES

Called up, paid and allotted share capital

200

200

Non-distributable reserves

8

76,415

76,415

Other reserves

8

71,704

-

Retained earnings

8

(2,923

)

(2,166

)

SHAREHOLDERS' FUNDS

145,396

74,449

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 Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

K M McGuinness - Director

1.	STATUTORY INFORMATION

MGBC 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, which is considered appropriate by the directors as the company operates within its agreed banking facilities and with the support of the directors.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Other reserves

Other reserves represent the gain on initial recognition of an interest free loan, (as a result of it being measured at the present value of future cash flows), less the accumulated interest charge to date. Each year, the interest charge for the period is transferred from retained earnings to this reserve.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

410,000

NET BOOK VALUE

At 31 December 2024

410,000

At 31 December 2023

410,000

Investment properties were valued on an open market basis on 31 December 2024 by the directors.

If investment properties had not been revalued they would have been included at historical cost totalling £308,113.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

18,420

-

Other creditors

-

314,754

18,420

314,754

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

225,370

-

8.

RESERVES

Retained

Non-distributable

Other

earnings

reserves

reserves

Totals

£

£

£

£

At 1 January 2024

(2,166

)

76,415

-

74,249

Deficit for the year

(757

)

(757

)

Initial net present value recognition

-

-

71,704

71,704

At 31 December 2024

(2,923

)

76,415

71,704

145,196

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The financial statements of the Company for the period ended 31 December 2023 were not audited and therefore the comparative figures are unaudited.

Stephen Healy (Senior Statutory Auditor)

for and on behalf of Miller & Co

10.	RELATED PARTY DISCLOSURES

During the year, MGBC Ltd, a company within the group, provided loans which are interest free. Additional loans were provided to the company in aggregate of £741. After an adjustment of £71,704 to account for the balance at net present value, the amount due at the year end was £243,791.

11.	ULTIMATE CONTROLLING PARTY

McGuinness Brothers Group Ltd, a UK registered company, is the immediate and ultimate parent company. The registered office address is Unit 5 Imperial Court, Laporte Way, Luton, LU4 8FE.