REGISTERED NUMBER: 03731674 (England and Wales)

MGM Cars (Northern) Limited

Unaudited Financial Statements For The Year Ended 31 October 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Dillon

REGISTERED OFFICE:

Building 15, Gateway 1000

Arlington Business Park

Stevenage

Hertfordshire

SG1 2FP

REGISTERED NUMBER:

03731674 (England and Wales)

FIXED ASSETS

Intangible assets

4

23,200

26,100

Tangible assets

5

59,198

79,273

82,398

105,373

CURRENT ASSETS

Stocks

9,200

10,200

Debtors

6

70,312

152,097

Cash at bank

327,450

219,328

406,962

381,625

CREDITORS

Amounts falling due within one year

7

(152,176

)

(115,768

)

NET CURRENT ASSETS

254,786

265,857

TOTAL ASSETS LESS CURRENT LIABILITIES

337,184

371,230

CREDITORS

Amounts falling due after more than one year

8

-

(7,500

)

PROVISIONS FOR LIABILITIES

(13,344

)

(18,077

)

NET ASSETS

323,840

345,653

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

323,740

345,553

SHAREHOLDERS' FUNDS

323,840

345,653

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

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

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 7 July 2026 and were signed by:

Mr T Dillon - Director

1.	STATUTORY INFORMATION

MGM Cars (Northern) 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.

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

The turnover shown in the profit and loss account represents goods sold during the year, exclusive of Value Added Tax. Income is recognised on despatch.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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 5 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

29,000

AMORTISATION

At 1 November 2024

2,900

Amortisation for year

2,900

At 31 October 2025

5,800

NET BOOK VALUE

At 31 October 2025

23,200

At 31 October 2024

26,100

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2024

1,955

94,500

177,095

8,023

281,573

Disposals

-

-

-

(2,500

)

(2,500

)

At 31 October 2025

1,955

94,500

177,095

5,523

279,073

DEPRECIATION

At 1 November 2024

-

81,300

116,659

4,341

202,300

Charge for year

-

3,600

15,109

772

19,481

Eliminated on disposal

-

-

-

(1,906

)

(1,906

)

At 31 October 2025

-

84,900

131,768

3,207

219,875

NET BOOK VALUE

At 31 October 2025

1,955

9,600

45,327

2,316

59,198

At 31 October 2024

1,955

13,200

60,436

3,682

79,273

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

58,499

59,348

Other debtors

-

55,613

Tax

11,813

37,136

70,312

152,097

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

7,500

10,000

Trade creditors

27,171

28,424

Social security and other taxes

9,134

10,692

VAT

87,971

63,152

Directors' current accounts

16,650

-

Accrued expenses

3,750

3,500

152,176

115,768

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

7,500

9.	RELATED PARTY DISCLOSURES

At the year end, the company owes its directors £16,650 (2024: the directors owed the company £35,000).

10.	ULTIMATE CONTROLLING PARTY

The company was under the joint control of Mr T Dillon and Mr B Dillon who are equal shareholders.