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REGISTERED NUMBER: 10476171 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MRG WOLVERHAMPTON LTD

MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MRG WOLVERHAMPTON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: R K Bhalla
Mrs R K Bhalla





REGISTERED OFFICE: Victoria Business Centre
17 Victoria Street
Wolverhampton
West Midlands
WV1 3NP





REGISTERED NUMBER: 10476171 (England and Wales)

MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,280 1,600
Investment property 5 900,256 823,323
901,536 824,923

CURRENT ASSETS
Cash at bank and in hand 27,028 94,014

CREDITORS
Amounts falling due within one year 6 453,388 422,452
NET CURRENT LIABILITIES (426,360 ) (328,438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

475,176

496,485

CREDITORS
Amounts falling due after more than one
year

7

447,330

474,569
NET ASSETS 27,846 21,916

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 26,846 20,916
SHAREHOLDERS' FUNDS 27,846 21,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)

BALANCE SHEET - continued
30 NOVEMBER 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 26 November 2024 and were signed on its behalf by:





R K Bhalla - Director


MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Mrg Wolverhampton 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.

Investment property
Investment property is shown at cost.

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 NIL (2022 - NIL).

MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022
and 30 November 2023 2,000
DEPRECIATION
At 1 December 2022 400
Charge for year 320
At 30 November 2023 720
NET BOOK VALUE
At 30 November 2023 1,280
At 30 November 2022 1,600

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 December 2022 823,323
Additions 76,933
At 30 November 2023 900,256
NET BOOK VALUE
At 30 November 2023 900,256
At 30 November 2022 823,323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade creditors 48,442 26,866
Tax 2,695 1,229
Directors' current accounts 401,681 393,847
Accrued expenses 570 510
453,388 422,452

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Bank loans (see note 8) 447,330 474,569

MRG WOLVERHAMPTON LTD (REGISTERED NUMBER: 10476171)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30/11/23 30/11/22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 439,830 464,061
Bounce Back Loan 7,500 10,508
447,330 474,569

8. LOANS

An analysis of the maturity of loans is given below:

30/11/23 30/11/22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 439,830 464,061
Bounce Back Loan 7,500 10,508
447,330 474,569

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 December 2022 20,916
Profit for the year 5,930
At 30 November 2023 26,846