Registration number: 08085605

Mgh Electrical (Uk) Ltd

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Mgh Electrical (Uk) Ltd

Company Information

Directors

David Martin Hough Martin George Hough

Registered office

Unit 21 Gerards Park College Street St Helens WA10 1FZ

Accountants

S.B.P. (Southport) Limited T/A SB Patel & Co Chartered Certified Accountants Tolsey House 1 Marshside Road Southport Merseyside PR9 9TL

Mgh Electrical (Uk) Ltd

(Registration number: 08085605)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	3,500	4,000
Tangible assets	5	283,258	330,926
		286,758	334,926
Current assets
Stocks	6	118,000	138,000
Debtors	7	346,478	334,882
Cash at bank and in hand		639,324	496,743
		1,103,802	969,625
Creditors: Amounts falling due within one year	8	(378,618)	(371,300)
Net current assets		725,184	598,325
Total assets less current liabilities		1,011,942	933,251
Creditors: Amounts falling due after more than one year	8	(59,695)	(71,468)
Net assets		952,247	861,783
Capital and reserves
Called up share capital		100	100
Retained earnings		952,147	861,683
Shareholders' funds		952,247	861,783

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 20 November 2025 and signed on its behalf by:
 

Mgh Electrical (Uk) Ltd

(Registration number: 08085605)
Statement of Financial Position as at 31 March 2025

......................................... David Martin Hough Director

......................................... Martin George Hough Director

Mgh Electrical (Uk) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 21
Gerards Park
College Street
St Helens
WA10 1FZ
England

These financial statements were authorised for issue by the Board on 20 November 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Mgh Electrical (Uk) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Mgh Electrical (Uk) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2024 - 21).

Mgh Electrical (Uk) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	10,000	10,000
At 31 March 2025	10,000	10,000
Amortisation
At 1 April 2024	6,000	6,000
Amortisation charge	500	500
At 31 March 2025	6,500	6,500
Carrying amount
At 31 March 2025	3,500	3,500
At 31 March 2024	4,000	4,000

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	160,945	497,827	658,772
Additions	2,011	58,882	60,893
Disposals	-	(73,507)	(73,507)
At 31 March 2025	162,956	483,202	646,158
Depreciation
At 1 April 2024	103,625	224,221	327,846
Charge for the year	11,867	58,949	70,816
Eliminated on disposal	-	(35,762)	(35,762)
At 31 March 2025	115,492	247,408	362,900
Carrying amount
At 31 March 2025	47,464	235,794	283,258
At 31 March 2024	57,320	273,606	330,926

Mgh Electrical (Uk) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

	2025 £	2024 £
Work in progress	81,000	95,000
Other inventories	37,000	43,000
	118,000	138,000

7

Debtors

Current	2025 £	2024 £
Trade debtors	290,305	294,675
Prepayments	11,500	10,572
Other debtors	44,673	29,635
	346,478	334,882

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	174,156	160,960
Taxation and social security	91,771	100,155
Accruals and deferred income	3,380	2,880
Other creditors	109,311	107,305
	378,618	371,300

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		59,695	71,468

9

Dividends

		2025		2024
		£		£
Final dividend of £1,100 (2024 - £1,400) per ordinary share		110,000		140,000