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REGISTERED NUMBER: 05899715 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

MG Simister & Son Limited

MG Simister & Son Limited (Registered number: 05899715)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

MG Simister & Son Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: Mr R Simister
Mr J G Simister
Mrs G A Simister
Mr E Simister





SECRETARY: Mrs G A Simister





REGISTERED OFFICE: Ellastone Mill, Ellastone
Ashbourne
Derbyshire
DE6 2HF





REGISTERED NUMBER: 05899715 (England and Wales)





ACCOUNTANTS: Bennett Brooks (Leek) Ltd
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

MG Simister & Son Limited (Registered number: 05899715)

Balance Sheet
30 September 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 121,647 100,655

CURRENT ASSETS
Stocks 630,294 770,475
Debtors 5 967,133 873,557
Cash at bank and in hand 604,005 511,417
2,201,432 2,155,449
CREDITORS
Amounts falling due within one year 6 (743,029 ) (778,508 )
NET CURRENT ASSETS 1,458,403 1,376,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,580,050

1,477,596

PROVISIONS FOR LIABILITIES (23,000 ) (14,000 )
NET ASSETS 1,557,050 1,463,596

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,556,950 1,463,496
1,557,050 1,463,596

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





Mr J G Simister - Director


MG Simister & Son Limited (Registered number: 05899715)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

MG Simister & Son 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.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

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 9 (2022 - 10 ) .

MG Simister & Son Limited (Registered number: 05899715)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 October 2022 174,131 120,115 17,622 207,307 519,175
Additions - 1,894 - 95,937 97,831
Disposals - - - (26,750 ) (26,750 )
At 30 September 2023 174,131 122,009 17,622 276,494 590,256
DEPRECIATION
At 1 October 2022 160,533 104,407 15,702 137,878 418,520
Charge for year 13,598 3,991 1,644 57,606 76,839
Eliminated on disposal - - - (26,750 ) (26,750 )
At 30 September 2023 174,131 108,398 17,346 168,734 468,609
NET BOOK VALUE
At 30 September 2023 - 13,611 276 107,760 121,647
At 30 September 2022 13,598 15,708 1,920 69,429 100,655

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 953,393 865,367
Other debtors 13,740 8,190
967,133 873,557

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 537,385 603,749
Taxation and social security 97,265 79,595
Other creditors 108,379 95,164
743,029 778,508

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MG Simister & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MG Simister & Son Limited for the year ended 30 September 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MG Simister & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MG Simister & Son Limited and state those matters that we have agreed to state to the Board of Directors of MG Simister & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MG Simister & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MG Simister & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MG Simister & Son Limited. You consider that MG Simister & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MG Simister & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks (Leek) Ltd
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL


20 February 2024