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REGISTERED NUMBER: 09212563 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

M&G Mortgages Ltd

M&G Mortgages Ltd (Registered number: 09212563)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M&G Mortgages Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: W Hill
Mrs S E L Ashby - Hill





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 09212563 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

M&G Mortgages Ltd (Registered number: 09212563)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,092 9,061

CURRENT ASSETS
Debtors 6 57,600 49,134
Cash at bank 13,984 56,590
71,584 105,724
CREDITORS
Amounts falling due within one year 7 22,083 35,096
NET CURRENT ASSETS 49,501 70,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,593

79,689

CREDITORS
Amounts falling due after more than one
year

8

(18,787

)

(25,490

)

PROVISIONS FOR LIABILITIES (1,537 ) (1,722 )
NET ASSETS 37,269 52,477

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 36,969 52,177
SHAREHOLDERS' FUNDS 37,269 52,477

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.

M&G Mortgages Ltd (Registered number: 09212563)

Statement of Financial Position - continued
31 March 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 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 23 November 2023 and were signed on its behalf by:





W Hill - Director


M&G Mortgages Ltd (Registered number: 09212563)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

M&G Mortgages Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net commissions receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

M&G Mortgages Ltd (Registered number: 09212563)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 7,259 9,134 16,393
Additions 2,359 1,318 3,677
At 31 March 2023 9,618 10,452 20,070
DEPRECIATION
At 1 April 2022 1,756 5,576 7,332
Charge for year 2,193 2,453 4,646
At 31 March 2023 3,949 8,029 11,978
NET BOOK VALUE
At 31 March 2023 5,669 2,423 8,092
At 31 March 2022 5,503 3,558 9,061

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 57,600 49,134

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 7,461 7,461
Tax 13,803 24,914
Directors' current accounts 111 73
Accrued expenses 708 2,648
22,083 35,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 7,461 7,461
Bank loans - 2-5 years 11,326 18,029
18,787 25,490