EGMG Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09211794 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2023

for

EGMG Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Gerrard

REGISTERED OFFICE:

Unit A2

Beaumont Road

Banbury

Oxfordshire

OX16 1RH

REGISTERED NUMBER:

09211794 (England and Wales)

ACCOUNTANTS:

Handleys Chartered Accountants

10 Manor Park

Banbury

Oxfordshire

OX16 3TB

FIXED ASSETS

Tangible assets

4

28,715

38,865

CURRENT ASSETS

Stocks

317,331

433,541

Debtors

5

168,330

184,089

Cash at bank

17,471

29,617

503,132

647,247

CREDITORS

Amounts falling due within one year

6

60,332

99,340

NET CURRENT ASSETS

442,800

547,907

TOTAL ASSETS LESS CURRENT LIABILITIES

471,515

586,772

CREDITORS

Amounts falling due after more than one year

7

(150,000

)

(150,000

)

PROVISIONS FOR LIABILITIES

(5,935

)

(7,384

)

NET ASSETS

315,580

429,388

CAPITAL AND RESERVES

Called up share capital

11

11

Retained earnings

315,569

429,377

315,580

429,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2024 and were signed by:

M J Gerrard - Director

1.	STATUTORY INFORMATION

EGMG Ltd is a private company, limited by shares , registered in England and Wales. 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

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 etc

-

straight line over 3 years and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2022

and 30 September 2023

157,473

DEPRECIATION

At 1 October 2022

118,608

Charge for year

10,150

At 30 September 2023

128,758

NET BOOK VALUE

At 30 September 2023

28,715

At 30 September 2022

38,865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade debtors

105,733

136,597

Other debtors

62,597

47,492

168,330

184,089

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade creditors

15,179

23,149

Taxation and social security

39,857

70,529

Other creditors

5,296

5,662

60,332

99,340

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.23

30.9.22

£

£

Other creditors

150,000

150,000