IRIS Accounts Production v22.2.0.402 01046674 Board of Directors 1.1.21 31.12.21 31.12.21 31/8/2022 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure010466742020-12-31010466742021-12-31010466742021-01-012021-12-31010466742019-12-31010466742020-01-012020-12-31010466742020-12-3101046674ns16:EnglandWales2021-01-012021-12-3101046674ns15:PoundSterling2021-01-012021-12-3101046674ns11:Director12021-01-012021-12-3101046674ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3101046674ns11:SmallEntities2021-01-012021-12-3101046674ns11:Audited2021-01-012021-12-3101046674ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3101046674ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3101046674ns11:FullAccounts2021-01-012021-12-3101046674ns11:Director22021-01-012021-12-3101046674ns11:CompanySecretary12021-01-012021-12-3101046674ns11:RegisteredOffice2021-01-012021-12-3101046674ns6:CurrentFinancialInstruments2021-12-3101046674ns6:CurrentFinancialInstruments2020-12-3101046674ns6:ShareCapital2021-12-3101046674ns6:ShareCapital2020-12-3101046674ns6:RetainedEarningsAccumulatedLosses2021-12-3101046674ns6:RetainedEarningsAccumulatedLosses2020-12-3101046674ns6:LandBuildings2021-01-012021-12-3101046674ns6:PlantMachinery2021-01-012021-12-3101046674ns6:LandBuildings2020-12-3101046674ns6:PlantMachinery2020-12-3101046674ns6:LandBuildings2021-12-3101046674ns6:PlantMachinery2021-12-3101046674ns6:LandBuildings2020-12-3101046674ns6:PlantMachinery2020-12-3101046674ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3101046674ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 01046674 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

M.S. GEORGE LIMITED

M.S. GEORGE LIMITED (REGISTERED NUMBER: 01046674)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.S. GEORGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Q P Davis
M S G Davis





SECRETARY: Q P Davis





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: 01046674 (England and Wales)





AUDITORS: GBJ LLP
Statutory Auditor
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

M.S. GEORGE LIMITED (REGISTERED NUMBER: 01046674)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 248,635 309,015

CURRENT ASSETS
Stocks 802,013 1,044,749
Debtors 5 833,844 1,151,584
Investments 6 1,500,000 1,100,000
Cash at bank and in hand 538,069 746,666
3,673,926 4,042,999
CREDITORS
Amounts falling due within one year 7 664,660 923,276
NET CURRENT ASSETS 3,009,266 3,119,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,257,901

3,428,738

PROVISIONS FOR LIABILITIES 47,241 58,713
NET ASSETS 3,210,660 3,370,025

CAPITAL AND RESERVES
Called up share capital 65,000 65,000
Retained earnings 3,145,660 3,305,025
SHAREHOLDERS' FUNDS 3,210,660 3,370,025

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 Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:





Q P Davis - Director


M.S. GEORGE LIMITED (REGISTERED NUMBER: 01046674)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

M.S. George Limited 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes on the sale of goods. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 50% on cost and 25% on reducing balance

Land and buildings includes only expenditure on short leasehold property improvements.

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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


M.S. GEORGE LIMITED (REGISTERED NUMBER: 01046674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 contributes to the personal pension plans of staff members, according to individual employment contracts.

Investments
Investments are shown at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2021 97,921 1,295,866 1,393,787
Additions - 27,000 27,000
Disposals - (33,647 ) (33,647 )
At 31 December 2021 97,921 1,289,219 1,387,140
DEPRECIATION
At 1 January 2021 97,921 986,851 1,084,772
Charge for year - 86,840 86,840
Eliminated on disposal - (33,107 ) (33,107 )
At 31 December 2021 97,921 1,040,584 1,138,505
NET BOOK VALUE
At 31 December 2021 - 248,635 248,635
At 31 December 2020 - 309,015 309,015

M.S. GEORGE LIMITED (REGISTERED NUMBER: 01046674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 687,460 1,005,844
Amounts owed by group undertakings - 3,973
Other debtors 41,448 27,320
Prepayments 104,936 114,447
833,844 1,151,584

6. CURRENT ASSET INVESTMENTS
2021 2020
£ £
Other investments 1,500,000 1,100,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 388,133 495,515
Corporation tax - 136,769
Social security and other taxes 96,194 116,096
VAT 20,132 63,363
Pension 2,894 2,915
Other invoice creditors 100,119 47,885
Attachment of earnings 876 440
Accrued expenses 30,847 30,855
Client control account 25,465 29,438
664,660 923,276

8. SECURED DEBTS

The company is subject to a fixed charge over property, book and other debts, chattels, goodwill and uncalled capital and a floating charge over all assets, dated 20 August 2002.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Green (Senior Statutory Auditor)
for and on behalf of GBJ LLP