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REGISTERED NUMBER: 08825014 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

M G Whitwell LTD

M G Whitwell LTD (Registered number: 08825014)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

M G Whitwell LTD

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M G Whitwell





REGISTERED OFFICE: C/o TT Business Sevices Ltd
3 Burwell Close
Rochdale
Lancashire
OL12 6DQ





REGISTERED NUMBER: 08825014 (England and Wales)





ACCOUNTANTS: TT Business Services Ltd
Chartered Accountants
3 Burwell Close
Rochdale
Lancashire
OL12 6DQ

M G Whitwell LTD (Registered number: 08825014)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 519,225 459,140

CURRENT ASSETS
Stocks 244,300 273,950
Debtors 5 60,218 46,844
Cash at bank 33,898 41,789
338,416 362,583
CREDITORS
Amounts falling due within one year 6 (211,506 ) (194,943 )
NET CURRENT ASSETS 126,910 167,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,135

626,780

CREDITORS
Amounts falling due after more than one
year

7

(141,285

)

(154,040

)

PROVISIONS FOR LIABILITIES (67,479 ) (57,061 )
NET ASSETS 437,371 415,679

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 437,271 415,579
SHAREHOLDERS' FUNDS 437,371 415,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Whitwell LTD (Registered number: 08825014)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 28 October 2024 and were signed by:





M G Whitwell - Director


M G Whitwell LTD (Registered number: 08825014)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

M G Whitwell 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.

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 - 20% on reducing balance and 10% 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 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.

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 2 (2023 - 2 ) .

M G Whitwell LTD (Registered number: 08825014)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 591,791
Additions 111,577
At 31 January 2024 703,368
DEPRECIATION
At 1 February 2023 132,651
Charge for year 51,492
At 31 January 2024 184,143
NET BOOK VALUE
At 31 January 2024 519,225
At 31 January 2023 459,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 16,974 7,387
Other debtors 43,244 39,457
60,218 46,844

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 83,780 52,469
Other creditors 127,726 142,474
211,506 194,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 141,285 154,040

M G Whitwell LTD (Registered number: 08825014)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 19,565 25,000
Bank loans 205,500 181,509
225,065 206,509

Bank loan amounting to £39,408 is payable by instalments over 4 years at 4% over bank base rate.
Bank loan amounting to £94,024 is payable by instalments over 14 Years at 4% over bank base rate.
£42,773 of the company's working overdraft is secured.
The company has a bounce back loan amounting to £26,667 which is payable in equal installments over 40 months. This loan is not secured.

9. RESERVES
Retained
earnings
£   

At 1 February 2023 415,579
Profit for the year 23,692
Dividends (2,000 )
At 31 January 2024 437,271

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
M G Whitwell LTD

The following reproduces the text of the report prepared for the director 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 Director 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 M G Whitwell LTD for the year ended 31 January 2024 which comprise the Income Statement, 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 director of M G Whitwell LTD in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M G Whitwell LTD and state those matters that we have agreed to state to the director of M G Whitwell LTD 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 M G Whitwell LTD and its director for our work or for this report.

It is your duty to ensure that M G Whitwell LTD 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 M G Whitwell LTD. You consider that M G Whitwell LTD 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 M G Whitwell LTD. 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.






TT Business Services Ltd
Chartered Accountants
3 Burwell Close
Rochdale
Lancashire
OL12 6DQ


Date: .............................................