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Registered number: 07479168
MCG CONSTRUCTION LOGISTICS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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MCG CONSTRUCTION LOGISTICS LIMITED
REGISTERED NUMBER: 07479168
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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MCG CONSTRUCTION LOGISTICS LIMITED
REGISTERED NUMBER: 07479168
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 November 2025.
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F Garrard
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The notes on pages 3 to 10 form part of these financial statements.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
MCG Construction Logistics Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 56 Clarendon Road, Watford, WD17 1DA.
The principal activity of the company is that of a subcontractor delivering logistics packages to the construction industry.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The group to which the company belongs is a majority controlled equity investment of Tosca Debt Capital LLP. Tosca Debt Capital LLP provide debt facilities for the Auxo group, and work with the group to support the future success of the business.
he directors note that Tosca Debt Capital LLP have confirmed their intention to continue to provide support to the company in order to enable the company to remain a going concern for at least twelve months from the date of approval of its financial statements.
In addition to this support, and together with long term contracts with a number of clients, the directors believe that the company are well placed to manage its business risks successfully despite the current uncertain economic outlook.
After making their enquiries, the directors have formed a judgement that, at the time of approving the financial statements, there is a reasonable expectation that the company has adequate resources to continue its operations for the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. As a result, the directors continue to adopt the going concern basis in preparing the financial statements.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the reporting date can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, and costs to complete can be measured reliably. If the above is reasonable and measurable, profit on long terms contracts are included by including in the Statement of comprehensive income turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The average monthly number of employees, including directors, during the year was 14 (2023 - 17).
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Prepayments and accrued income
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The trade debtors balance is subject to an invoice discounting arrangement. These assets have not been derecognised from the Statement of financial position because the company remains ultimately responsible for any unpaid balances, so the directors consider significant risks to have been retained.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Invoice discount facility
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to related parties are unsecured, interest-free and repayable on demand.
The company has an invoice discounting arrangement in place with HSBC Bank Plc. There is a fixed charge held over the debtor book in respect of this facility.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Credited to the Statement of comprehensive income
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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400 Ordinary shares of £0.01 each
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Ordinary shares carry voting rights, but no rights to fixed income.
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The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and employees person schemes and amounted to £Nil (2023 - £10,242).
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Related party transactions
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The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transactions with wholly owned members of the group.
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Post balance sheet events
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There are no subsequent events that require disclosure or adjustments to the financial statements.
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MCG CONSTRUCTION LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Ultimate parent undertaking and controlling party
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The immediate parent undertaking is Auxo Group (Midco) Limited, a company incorporated in England and Wales. The registered office of Auxo Group (Midco) Limited is 56 Clarendon Road, Watford, WD17 1DA.
The ultimate parent undertaking is Auxo Group Holdings Limited, a company incorporated in England and Wales. The registered office of Auxo Group Holdings Limited is 56 Clarendon Road, Watford, WD17 1DA. This is the smallest and largest company in which the results of this company are consolidated.
The ultimate controlling party at the date of approval of these financial statements is Tosca Debt Capital LLP.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 20 November 2025 by Simon Carr (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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