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M F G INTERIORS LTD

Registered Number
13571008
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2025

M F G INTERIORS LTD
Company Information
for the year from 1 July 2024 to 30 June 2025

Directors

Stephen Fozzard
Anthony Garwell
David McKenna

Registered Address

253-259 Whitehall Road
Leeds
LS12 6ER

Registered Number

13571008 (England and Wales)
M F G INTERIORS LTD
Balance Sheet as at
30 June 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets310,82617,725
10,82617,725
Current assets
Stocks47,5007,500
Debtors21,19347,042
Cash at bank and on hand24,87047,072
53,563101,614
Creditors amounts falling due within one year5(45,728)(83,657)
Net current assets (liabilities)7,83517,957
Total assets less current liabilities18,66135,682
Creditors amounts falling due after one year6(5,388)(10,693)
Provisions for liabilities8(2,057)(3,368)
Net assets11,21621,621
Capital and reserves
Called up share capital33
Profit and loss account11,21321,618
Shareholders' funds11,21621,621
The financial statements were approved and authorised for issue by the Board of Directors on 16 July 2025, and are signed on its behalf by:
Anthony Garwell
Director
Registered Company No. 13571008
M F G INTERIORS LTD
Notes to the Financial Statements
for the year ended 30 June 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles5
Office Equipment3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 July 2415,00028,24343,243
At 30 June 2515,00028,24343,243
Depreciation and impairment
At 01 July 2413,75011,76825,518
Charge for year1,2505,6496,899
At 30 June 2515,00017,41732,417
Net book value
At 30 June 25-10,82610,826
At 30 June 241,25016,47517,725
4.Stocks

2025

2024

££
Finished goods7,5007,500
Total7,5007,500
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables5,26614,111
Taxation and social security23,13830,466
Finance lease and HP contracts5,7345,579
Other creditors10899
Accrued liabilities and deferred income11,48233,402
Total45,72883,657
6.Creditors: amounts due after one year

2025

2024

££
Other creditors5,38810,693
Total5,38810,693
7.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts11,12216,271
8.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)2,0573,368
Total2,0573,368