MG Groundworks Limited 31/03/2025 iXBRL

Company registration number: 11410969

MG Groundworks Limited

Unaudited filleted financial statements

31 March 2025

MG Groundworks Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

MG Groundworks Limited

Directors and other information


	Directors	Michael Alexander
		Kevin Little


	Company number	11410969


	Registered office	Units 6-7, Thurrock Commercial Park
		Juliette way
		Purfleet
		Essex
		RM15 4YA


	Accountants	Pollock Taylor Ltd
		Chartered Certified Accountants
		Units 6-7, Thurrock Commercial Park
		Juliette way
		Purfleet
		Essex
		RM15 4YA

MG Groundworks Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of MG Groundworks Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MG Groundworks Limited for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of MG Groundworks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of MG Groundworks Limited and state those matters that we have agreed to state to the board of directors of MG Groundworks Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MG Groundworks Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that MG Groundworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MG Groundworks Limited. You consider that MG Groundworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MG Groundworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Pollock Taylor Ltd

Chartered Certified Accountants

Units 6-7, Thurrock Commercial Park

Juliette way

Purfleet

Essex

RM15 4YA

MG Groundworks Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	6	236,214		191,797
		_________		_________
			236,214		191,797

Current assets
Debtors	7	510,387		271,019
Cash at bank and in hand		41,980		65,013
		_________		_________
		552,367		336,032
Creditors: amounts falling due
within one year	8	( 550,710)		( 298,724)
		_________		_________
Net current assets			1,657		37,308
			_________		_________
Total assets less current liabilities			237,871		229,105

Creditors: amounts falling due
after more than one year	9		( 74,945)		( 82,766)

Provisions for liabilities			( 50,963)		( 44,101)

			_________		_________
Net assets			111,963		102,238
			_________		_________

Capital and reserves
Called up share capital			65		65
Capital redemption reserve			35		35
Profit and loss account			111,863		102,138
			_________		_________
Shareholders funds			111,963		102,238
			_________		_________

For the 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

Michael Alexander

Director

Company registration number: 11410969

MG Groundworks Limited

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£


At 1 April 2023	100	-	107,588	107,688

Profit for the year			109,550	109,550
	_________	_________	_________	_________
Total comprehensive income for the year	-	-	109,550	109,550

Dividends paid and payable			( 70,000)	( 70,000)
Cancellation of subscribed capital	( 35)	-	( 35)	( 70)
Redemption of shares	-	35	( 44,965)	( 44,930)
	_________	_________	_________	_________
Total investments by and distributions to owners	( 35)	35	( 115,000)	( 115,000)

	_________	_________	_________	_________
At 31 March 2024 and 1 April 2024	65	35	102,138	102,238

Profit for the year			122,725	122,725
	_________	_________	_________	_________
Total comprehensive income for the year	-	-	122,725	122,725

Dividends paid and payable			( 113,000)	( 113,000)
	_________	_________	_________	_________
Total investments by and distributions to owners	-	-	( 113,000)	( 113,000)

	_________	_________	_________	_________
At 31 March 2025	65	35	111,863	111,963
	_________	_________	_________	_________

MG Groundworks Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Units 6-7, Thurrock Commercial Park, Juliette way, Purfleet, Essex, RM15 4YA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 5 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	42,982	8,996
Adjustments in respect of previous periods	-	624
	_________	_________

Deferred tax:
Origination and reversal of timing differences	6,862	29,682
	_________	_________
Tax on profit	49,844	39,302
	_________	_________

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	125,150	160,295	285,445
Additions	28,167	98,170	126,337
Disposals	-	( 84,030)	( 84,030)
	_________	_________	_________
At 31 March 2025	153,317	174,435	327,752
	_________	_________	_________
Depreciation
At 1 April 2024	19,771	73,877	93,648
Charge for the year	20,032	21,654	41,686
Disposals	-	( 43,796)	( 43,796)
	_________	_________	_________
At 31 March 2025	39,803	51,735	91,538
	_________	_________	_________
Carrying amount
At 31 March 2025	113,514	122,700	236,214
	_________	_________	_________
At 31 March 2024	105,379	86,418	191,797
	_________	_________	_________

7. Debtors

	2025	2024
	£	£
Trade debtors	406,315	212,416
Other debtors	104,072	58,603
	_________	_________
	510,387	271,019
	_________	_________

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	9,000	9,000
Trade creditors	336,624	206,095
Corporation tax	42,982	14,451
Social security and other taxes	21,738	14,711
Other creditors	140,366	54,467
	_________	_________
	550,710	298,724
	_________	_________

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,500	10,500
Other creditors	73,445	72,266
	_________	_________
	74,945	82,766
	_________	_________