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REGISTERED NUMBER: 02365797















Financial Statements for the Year Ended 30 September 2023

for

MTG Limited

MTG Limited (Registered number: 02365797)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MTG Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr Barrie O'Sullivan Ellis
Mrs Madeleine Ellis
Mr Peter Brian Huntington
Mr Dwight John Strachan





SECRETARY: Mr Barrie O'Sullivan Ellis





REGISTERED OFFICE: 12 Sherton Business Centre
Wadsworth Close
Perivale
MIDDLESEX
UB6 7JD





REGISTERED NUMBER: 02365797





ACCOUNTANTS: Capitax Financial Limited
Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS

MTG Limited (Registered number: 02365797)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,423 8,752

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 5 4,726 4,340
Cash at bank and in hand 63,250 55,845
70,476 62,685
CREDITORS
Amounts falling due within one year 6 32,154 27,609
NET CURRENT ASSETS 38,322 35,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,745

43,828

PROVISIONS FOR LIABILITIES 1,297 1,293
NET ASSETS 45,448 42,535

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,348 42,435
SHAREHOLDERS' FUNDS 45,448 42,535

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.

MTG Limited (Registered number: 02365797)

Statement of Financial Position - continued
30 September 2023


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 16 January 2024 and were signed on its behalf by:





Mr Barrie O'Sullivan Ellis - Director


MTG Limited (Registered number: 02365797)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

MTG Limited is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery etc - 18% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

MTG Limited (Registered number: 02365797)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 1,697 63,124 64,821
Additions - 1,519 1,519
At 30 September 2023 1,697 64,643 66,340
DEPRECIATION
At 1 October 2022 1,697 54,372 56,069
Charge for year - 1,848 1,848
At 30 September 2023 1,697 56,220 57,917
NET BOOK VALUE
At 30 September 2023 - 8,423 8,423
At 30 September 2022 - 8,752 8,752

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 4,726 4,340

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Taxation and social security 17,839 12,814
Other creditors 14,315 14,795
32,154 27,609

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 30 September 2023, MTG Ltd owed £12,390 to its directors. This amount is reflected in their respective director's loan accounts in credit balances, which is shown as part of Other creditors under Creditors due within one year. Please be advised that all the directors have agreed to provide this loan on an interest free basis and the loan is repayable on demand.