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REGISTERED NUMBER: 03731674 (England and Wales)

MGM Cars (Northern) Limited

Unaudited Financial Statements For The Year Ended 31 October 2025

MGM Cars (Northern) Limited (Registered number: 03731674)

Contents of the Financial Statements

For The Year Ended 31 October 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

MGM Cars (Northern) Limited

Company Information

For The Year Ended 31 October 2025

| DIRECTOR: | Mr T Dillon

| REGISTERED OFFICE: | Building 15, Gateway 1000

| Arlington Business Park

| Stevenage

| Hertfordshire

| SG1 2FP

| REGISTERED NUMBER: | 03731674 (England and Wales)

MGM Cars (Northern) Limited (Registered number: 03731674)

Balance Sheet

31 October 2025

| 2025 |  | 2024

| Notes | £ | £ |

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.

MGM Cars (Northern) Limited (Registered number: 03731674)

Balance Sheet - continued

31 October 2025

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

MGM Cars (Northern) Limited (Registered number: 03731674)

Notes to the Financial Statements

For The Year Ended 31 October 2025

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 ) .

MGM Cars (Northern) Limited (Registered number: 03731674)

Notes to the Financial Statements - continued

For The Year Ended 31 October 2025

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 |  |

MGM Cars (Northern) Limited (Registered number: 03731674)

Notes to the Financial Statements - continued

For The Year Ended 31 October 2025

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.