MGR Sparx Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05837561

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

MGR SPARX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S P George

SECRETARY:

REGISTERED OFFICE:

13 Mount Grace Road

Potters Bar

Hertfordshire

EN6 1RD

REGISTERED NUMBER:

05837561

ACCOUNTANTS:

Capes Gittins

Chartered Accountants

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

FIXED ASSETS

Tangible assets

4

2,137

2,850

CURRENT ASSETS

Debtors

5

1,389

1,645

Cash at bank

7,325

9,998

8,714

11,643

CREDITORS

Amounts falling due within one year

6

(8,620

)

(7,855

)

NET CURRENT ASSETS

94

3,788

TOTAL ASSETS LESS CURRENT LIABILITIES

2,231

6,638

PROVISIONS FOR LIABILITIES

(403

)

(537

)

NET ASSETS

1,828

6,101

CAPITAL AND RESERVES

Called up share capital

14

14

Retained earnings

1,814

6,087

SHAREHOLDERS' FUNDS

1,828

6,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 22 September 2022 and were signed by:

S P George - Director

1.	STATUTORY INFORMATION

MGR Sparx Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2021

and 30 June 2022

4,716

21,737

1,553

28,006

DEPRECIATION

At 1 July 2021

4,716

19,077

1,363

25,156

Charge for year

-

665

48

713

At 30 June 2022

4,716

19,742

1,411

25,869

NET BOOK VALUE

At 30 June 2022

-

1,995

142

2,137

At 30 June 2021

-

2,660

190

2,850

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

807

1,074

Prepayments

582

571

1,389

1,645

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,906

1,060

Tax

6,333

6,406

Directors' current accounts

162

170

Accrued expenses

219

219

8,620

7,855

7.	ULTIMATE CONTROLLING PARTY