REGISTERED NUMBER: 09978971 (England and Wales)

MNG SPENCER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N P Spencer

Mr M J Spencer

REGISTERED OFFICE:

Cashs Business Centre

1st Floor, 228 Widdrington Road

Coventry

CV1 4PB

REGISTERED NUMBER:

09978971 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

54,500

54,422

CURRENT ASSETS

Stocks

5

554,315

918,722

Debtors

6

3,975

1,715

Cash at bank

223,043

273,305

781,333

1,193,742

CREDITORS

Amounts falling due within one year

7

(118,100

)

(144,781

)

NET CURRENT ASSETS

663,233

1,048,961

TOTAL ASSETS LESS CURRENT LIABILITIES

717,733

1,103,383

CREDITORS

Amounts falling due after more than one year

8

(598,442

)

(979,645

)

NET ASSETS

119,291

123,738

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

119,191

123,638

SHAREHOLDERS' FUNDS

119,291

123,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

Mr M J Spencer - Director

Mr N P Spencer - Director

1.	STATUTORY INFORMATION

MNG Spencer Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 August 2024

23,181

30,737

26,604

80,522

Additions

15,604

-

-

15,604

At 31 July 2025

38,785

30,737

26,604

96,126

DEPRECIATION

At 1 August 2024

3,824

12,398

9,878

26,100

Charge for year

5,595

4,610

5,321

15,526

At 31 July 2025

9,419

17,008

15,199

41,626

NET BOOK VALUE

At 31 July 2025

29,366

13,729

11,405

54,500

At 31 July 2024

19,357

18,339

16,726

54,422

5.

STOCKS

31.7.25

31.7.24

£

£

Stocks

471,022

471,022

Work-in-progress

83,293

447,700

554,315

918,722

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

VAT

3,975

1,715

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Other loans (see note 9)

3,372

3,372

Trade creditors

15,444

2,623

Wages Payable

7,564

6,357

Tax

-

15,425

Social security and other taxes

454

(1,557

)

Other creditors

18,182

33,000

Directors' current accounts

58,942

65,898

Accrued expenses

2,451

3,801

Anticipated capital return

11,691

15,862

118,100

144,781

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans (see note 9)

597,033

975,375

Other loans (see note 9)

1,409

4,270

598,442

979,645

9.

LOANS

An analysis of the maturity of loans is given below:

31.7.25

31.7.24

£

£

Amounts falling due within one year or on demand:

JCB Finance Loan

3,372

3,372

Amounts falling due between one and two years:

JCB Finance Loan - 1-2 years

1,409

3,372

Amounts falling due between two and five years:

Investor Loans more then 5 yrs

597,033

975,375

JCB Finance Loan - 2-5 years

-

898

597,033

976,273

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

£

100

Ordinary

1

100

100

11.

RESERVES

Retained

earnings

£

At 1 August 2024

123,638

Deficit for the year

(4,447

)

At 31 July 2025

119,191

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

included in other creditor amount outstanding to Directors £58,942 (2024 £61,541), is interest free with no set terms of repayment.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M J Spencer.

The ultimate controlling party is Mr N P Spencer.

Directors are ultimate controlling parties.