1 November 2023 false No description of principal activity Taxfiler 2024.6 07054904business:PrivateLimitedCompanyLtd2023-11-012024-10-31 070549042023-10-31 070549042023-11-012024-10-31 07054904business:AuditExemptWithAccountantsReport2023-11-012024-10-31 07054904business:FilletedAccounts2023-11-012024-10-31 070549042024-10-31 07054904business:Director12023-11-012024-10-31 07054904business:RegisteredOffice2023-11-012024-10-31 070549042023-10-31 07054904core:WithinOneYear2024-10-31 07054904core:WithinOneYear2023-10-31 07054904core:AfterOneYear2024-10-31 07054904core:AfterOneYear2023-10-31 07054904core:ShareCapitalcore:PreviouslyStatedAmount2024-10-31 07054904core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 07054904core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-10-31 07054904core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 07054904core:PreviouslyStatedAmount2024-10-31 07054904core:PreviouslyStatedAmount2023-10-31 07054904business:SmallEntities2023-11-012024-10-31 07054904countries:EnglandWales2023-11-012024-10-31 07054904core:PlantMachinery2023-10-31 07054904core:PlantMachinery2024-10-31 07054904core:PlantMachinery2023-11-012024-10-31 070549042022-11-012023-10-31 iso4217:GBP xbrli:pure
Company Registration No. 07054904 (England and Wales)
MGM PRODUCTS LIMITED Unaudited accounts for the year ended 31 October 2024
MGM PRODUCTS LIMITED Unaudited accounts Contents
Page
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MGM PRODUCTS LIMITED Company Information for the year ended 31 October 2024
Director
Mark McCauley
Company Number
07054904 (England and Wales)
Registered Office
8 CROMWELL ROAD KETTERING NORTHAMPTONSHIRE NN16 8DG
Accountants
Nineteen Accountants Limited 207 Rockingham Road Kettering United Kingdom NN16 9JA
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MGM PRODUCTS LIMITED Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,944 
23,926 
Current assets
Inventories
203,800 
203,800 
Debtors
59,114 
85,610 
Cash at bank and in hand
105,860 
49,512 
368,774 
338,922 
Creditors: amounts falling due within one year
(134,051)
(99,810)
Net current assets
234,723 
239,112 
Total assets less current liabilities
252,667 
263,038 
Creditors: amounts falling due after more than one year
(22,103)
(32,655)
Net assets
230,564 
230,383 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
230,563 
230,382 
Shareholders' funds
230,564 
230,383 
For the year ending 31 October 2024 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 15 July 2025 and were signed on its behalf by
Mark McCauley Director Company Registration No. 07054904
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MGM PRODUCTS LIMITED Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
MGM PRODUCTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07054904. The registered office is 8 CROMWELL ROAD, KETTERING, NORTHAMPTONSHIRE, NN16 8DG.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2023
27,600 
At 31 October 2024
27,600 
Depreciation
At 1 November 2023
3,674 
Charge for the year
5,982 
At 31 October 2024
9,656 
Net book value
At 31 October 2024
17,944 
At 31 October 2023
23,926 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,496 
Trade debtors
59,114 
84,114 
59,114 
85,610 
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MGM PRODUCTS LIMITED Notes to the Accounts for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,672 
- 
Trade creditors
15,047 
14,937 
Taxes and social security
10,820 
6,203 
Loans from directors
102,512 
78,670 
134,051 
99,810 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,103 
32,655 
8
Average number of employees
During the year the average number of employees was 1 (2023: 2).
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