Company registration number 11923351 (England and Wales)
MGH AEROSPACE CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MGH AEROSPACE CONSULTING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MGH AEROSPACE CONSULTING LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,600
35,165
Current assets
Debtors
4
4,197
8,095
Cash at bank and in hand
10,340
7,213
14,537
15,308
Creditors: amounts falling due within one year
5
(33,874)
(28,304)
Net current liabilities
(19,337)
(12,996)
Total assets less current liabilities
8,263
22,169
Provisions for liabilities
(5,244)
(8,809)
Net assets
3,019
13,360
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
2,919
13,260
Total equity
3,019
13,360

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 November 2025 and are signed on its behalf by:
Mr M G Hughes
Director
Company registration number 11923351 (England and Wales)
MGH AEROSPACE CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

MGH Aerospace Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor Refuge House, 33-37 Watergate Row, Chester, CH1 2LE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computer equipment
33% straight line
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MGH AEROSPACE CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024 and 31 March 2025
143
3,395
46,000
49,538
Depreciation and impairment
At 1 April 2024
143
1,964
12,266
14,373
Depreciation charged in the year
-
0
818
6,747
7,565
At 31 March 2025
143
2,782
19,013
21,938
Carrying amount
At 31 March 2025
-
0
613
26,987
27,600
At 31 March 2024
-
0
1,431
33,734
35,165
MGH AEROSPACE CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,919
7,828
Other debtors
278
267
4,197
8,095
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
5,675
6,415
Other creditors
28,199
21,889
33,874
28,304
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100
100
100
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