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REGISTERED NUMBER: 09816179















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MDWG LIMITED

MDWG LIMITED (REGISTERED NUMBER: 09816179)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MDWG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







Directors: R J Grant
M Wynter-Grant





Registered office: 282a High Street
Orpington
Kent
BR6 0ND





Registered number: 09816179





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

MDWG LIMITED (REGISTERED NUMBER: 09816179)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 3,151 1,654

Current assets
Debtors 5 1,958,247 1,722,199
Cash at bank 124,033 228,593
2,082,280 1,950,792
Creditors
Amounts falling due within one year 6 (71,884 ) (72,457 )
Net current assets 2,010,396 1,878,335
Total assets less current liabilities 2,013,547 1,879,989

Capital and reserves
Called up share capital 7 100 100
Retained earnings 2,013,447 1,879,889
Shareholders' funds 2,013,547 1,879,989

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 29 July 2024 and were signed on its behalf by:





R J Grant - Director


MDWG LIMITED (REGISTERED NUMBER: 09816179)

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

1. STATUTORY INFORMATION

MDWG 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.
Equipment - 25% on reducing balance

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

MDWG LIMITED (REGISTERED NUMBER: 09816179)

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

4. TANGIBLE FIXED ASSETS
Equipment
£
Cost
At 1 November 2022 5,976
Additions 2,548
At 31 October 2023 8,524
Depreciation
At 1 November 2022 4,322
Charge for year 1,051
At 31 October 2023 5,373
Net book value
At 31 October 2023 3,151
At 31 October 2022 1,654

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 1,870,155 1,595,951
Directors' current accounts 88,092 126,248
1,958,247 1,722,199

Included in other debtors is a balance of £1,862,904 (2022: £1,576,154) due from RMTS Property Ltd, a company under common control.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Tax 37,839 35,287
Social security and other taxes 485 420
VAT 27,856 30,501
Other creditors 3,204 3,749
Accruals and deferred income 2,500 2,500
71,884 72,457

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ord £1 100 100

MDWG LIMITED (REGISTERED NUMBER: 09816179)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 October 2023 and the year ended 31 October 2022:

20232022
£   £   
Balance outstanding at start of year126,249113,500
Amounts advanced107,687156,731
Amounts repaid(145,844)(143,982)
Balance outstanding at end of year88,092126,249

The above balances are included within other debtors.

It is company policy to charge interest on all overdrawn loan accounts at the HMRC official rate of interest. The amount owed at the year end in respect of the above loans was £2,758 (2022: £1,400) and is included in other debtors.