Company Registration No. 12947087 (England and Wales)
MG Prep & Paint LTD
Unaudited accounts
for the year ended 31 October 2023
MG Prep & Paint LTD
Unaudited accounts
Contents
MG Prep & Paint LTD
Company Information
for the year ended 31 October 2023
Director
Matthew Robin Garrat
Company Number
12947087 (England and Wales)
Registered Office
32 BRAEMAR ROAD
NORTON CANES
CANNOCK
WS11 9QT
ENGLAND
MG Prep & Paint LTD
Statement of financial position
as at 31 October 2023
Tangible assets
11,952
4,552
Cash at bank and in hand
13,616
19,596
Creditors: amounts falling due within one year
(15,444)
(21,936)
Net current liabilities
(1,828)
(2,340)
Total assets less current liabilities
10,124
2,212
Creditors: amounts falling due after more than one year
(10,030)
-
Called up share capital
1
1
Profit and loss account
93
2,211
Shareholders' funds
94
2,212
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 October 2024 and were signed on its behalf by
Matthew Robin Garrat
Director
Company Registration No. 12947087
MG Prep & Paint LTD
Notes to the Accounts
for the year ended 31 October 2023
MG Prep & Paint LTD is a private company, limited by shares, registered in England and Wales, registration number 12947087. The registered office is 32 BRAEMAR ROAD, NORTON CANES, CANNOCK, WS11 9QT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2022
4,300
3,200
7,500
Disposals
-
(3,200)
(3,200)
At 31 October 2023
4,300
13,000
17,300
At 1 November 2022
1,548
1,400
2,948
Charge for the year
550
3,250
3,800
On disposals
-
(1,400)
(1,400)
At 31 October 2023
2,098
3,250
5,348
At 31 October 2023
2,202
9,750
11,952
At 31 October 2022
2,752
1,800
4,552
MG Prep & Paint LTD
Notes to the Accounts
for the year ended 31 October 2023
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
15,444
20,592
Taxes and social security
-
1,344
6
Creditors: amounts falling due after more than one year
2023
2022
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).