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REGISTERED NUMBER: 05164499 (England and Wales)















M & G TRANSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






M & G TRANSPORT LIMITED (REGISTERED NUMBER: 05164499)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M & G TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M J C Faizey
Mrs D Faizey





REGISTERED OFFICE: 17 Stockfield Road
Acocks Green
Birmingham
West Midlands
B27 6AP





REGISTERED NUMBER: 05164499 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

M & G TRANSPORT LIMITED (REGISTERED NUMBER: 05164499)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 99,664 137,246
99,664 137,246

CURRENT ASSETS
Stocks 1,141 3,500
Debtors 6 45,386 39,910
Cash at bank and in hand 248,136 178,110
294,663 221,520
CREDITORS
Amounts falling due within one year 7 295,971 248,904
NET CURRENT LIABILITIES (1,308 ) (27,384 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,356

109,862

PROVISIONS FOR LIABILITIES 13,938 26,931
NET ASSETS 84,418 82,931

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 10,200 10,200
Retained earnings 74,118 72,631
SHAREHOLDERS' FUNDS 84,418 82,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:



M J C Faizey - Director


M & G TRANSPORT LIMITED (REGISTERED NUMBER: 05164499)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

M & G Transport 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
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 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.

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 14 (2022 - 15 ) .

M & G TRANSPORT LIMITED (REGISTERED NUMBER: 05164499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 72,835
AMORTISATION
At 1 April 2022
and 31 March 2023 72,835
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 221,721 5,349 227,070
Additions 48,333 - 48,333
Disposals (42,841 ) - (42,841 )
At 31 March 2023 227,213 5,349 232,562
DEPRECIATION
At 1 April 2022 84,475 5,349 89,824
Charge for year 57,984 - 57,984
Eliminated on disposal (14,910 ) - (14,910 )
At 31 March 2023 127,549 5,349 132,898
NET BOOK VALUE
At 31 March 2023 99,664 - 99,664
At 31 March 2022 137,246 - 137,246

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 31,233 30,745
Other debtors 14,153 9,165
45,386 39,910

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 527 52,434
Amounts owed to group undertakings 194,710 94,381
Taxation and social security 70,263 67,364
Other creditors 30,471 34,725
295,971 248,904

M & G TRANSPORT LIMITED (REGISTERED NUMBER: 05164499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 10,200

9. ULTIMATE CONTROLLING PARTY

Control is held by Mr M Faizey, a director, through his shareholding in the parent company.