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REGISTERED NUMBER: 11616578 (England and Wales)












MGR HORSHAM LIMITED

Unaudited Financial Statements

for the Year Ended 31 October 2022






MGR HORSHAM LIMITED (REGISTERED NUMBER: 11616578)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MGR HORSHAM LIMITED

Company Information
for the Year Ended 31 October 2022







DIRECTOR: M G Betts





REGISTERED OFFICE: The Old Mill, Kings Mill
Kings Mill Lane
South Nutfield
Surrey
RH1 5NB





REGISTERED NUMBER: 11616578 (England and Wales)





ACCOUNTANTS: The Bailey Partnership
Chartered Accountants
The Old Mill, Kings Mill
Kings Mill Lane
South Nutfield
Surrey
RH1 5NB

MGR HORSHAM LIMITED (REGISTERED NUMBER: 11616578)

Balance Sheet
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,367 -

CURRENT ASSETS
Stocks 5 - 1,050,000
Debtors 6 25,688 9,371
Cash at bank and in hand 42,479 20,164
68,167 1,079,535
CREDITORS
Amounts falling due within one year 7 86,653 1,074,976
NET CURRENT (LIABILITIES)/ASSETS (18,486 ) 4,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

(17,119

)

4,559

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (17,219 ) 4,459
SHAREHOLDERS' FUNDS (17,119 ) 4,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:





M G Betts - Director


MGR HORSHAM LIMITED (REGISTERED NUMBER: 11616578)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

MGR Horsham 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, 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.
Computer equipment - 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 Statement of Income and Retained Earnings, 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.

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 2 (2021 - 2 ) .

MGR HORSHAM LIMITED (REGISTERED NUMBER: 11616578)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,823
At 31 October 2022 1,823
DEPRECIATION
Charge for year 456
At 31 October 2022 456
NET BOOK VALUE
At 31 October 2022 1,367

5. STOCKS
2022 2021
£    £   
Stocks - 1,050,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Directors' loan accounts 18,932 -
VAT 6,756 9,371
25,688 9,371

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 8) 32,055 801,053
Trade creditors 11,653 28,422
Tax - 1,111
Other creditors 37,720 121,079
Directors' loan accounts - 120,186
Accrued expenses 5,225 3,125
86,653 1,074,976

8. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2 2
Bank loans 32,053 801,051
32,055 801,053

MGR HORSHAM LIMITED (REGISTERED NUMBER: 11616578)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank overdrafts 2 2
Bank loans 32,053 801,051
32,055 801,053

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 November 2021 4,459
Deficit for the year (21,678 )
At 31 October 2022 (17,219 )