Accounts filed on 31-10-2020


Registered number: 11371985






M & G BUSINESS LIMITED


ACCOUNTS

FOR THE YEAR ENDED 31/10/2020
























Prepared By:
LHM ACCOUNTANTS
Incorporated Financial Accountants
20 Westlands Way
Oxted
Surrey
RH8 0ND


ACCOUNTS
FOR THE YEAR ENDED 31/10/2020





DIRECTORS
M Baltar Pinto Ferreira



SECRETARY
P K Manster


REGISTERED OFFICE
OXTED
SURREY
RH8 0ND


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11371985



ACCOUNTANTS
LHM ACCOUNTANTS
Incorporated Financial Accountants
20 Westlands Way
Oxted
Surrey
RH8 0ND


ACCOUNTS
FOR THEYEARENDED31/10/2020



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/10/2020

			2020		2019
	Notes		£		£

FIXED ASSETS
Tangible assets	3		41,574		1,266

CURRENT ASSETS
Stock		21,455		10,197
Cash at bank and in hand		49,144		1,890
		70,599		12,087
CREDITORS: Amounts falling due within one year	5	43,623		29,841
NET CURRENT ASSETS / (LIABILITIES)			26,976		(17,754)
TOTAL ASSETS LESS CURRENT LIABILITIES			68,550		(16,488)


CREDITORS: Amounts falling due after more than one year	6		46,000		-

NET ASSETS / (LIABILITIES)			22,550		(16,488)

CAPITAL AND RESERVES

Called up share capital	7		10		10
Profit and loss account			22,540		(16,498)
SHAREHOLDERS' FUNDS			22,550		(16,488)

For the year ending 31/10/2020 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 07/07/2021 and signed on their behalf by



.............................
M Baltar Pinto Ferreira
Director

1. ACCOUNTING POLICIES


1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .


1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment		%
Motor Cars		%


1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2020	2019
	£	£
VAT	3,048	896
PAYE control	404	-
Directors current account	20,351	28,090
Accruals	19,820	855
	43,623	29,841


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2020	2019
	£	£
Bank loans (unsecured) >1yr	46,000	-
	46,000	-


7. SHARE CAPITAL	2020	2019
	£	£
Allotted, issued and fully paid:
10 Ordinary shares of £1 each	10	10
	10	10

New shares issued during period:
10 Ordinary shares of £1 each	10	10
	-	10