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Registered Number: SC720345
Scotland

 

 

 

MIGSOFT PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 19 January 2022

End date: 30 June 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Ltd.
30 June 2023



....................................................
Turner Accountancy Ltd.
101 Park Street
Motherwell
ML1 1PF
19 October 2023
1
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 412,006 
412,006 
Current assets    
Debtors 13,947 
Cash at bank and in hand 1,036 
14,983 
Creditors: amount falling due within one year (1,209)
Net current assets 13,774 
 
Total assets less current liabilities 425,780 
Creditors: amount falling due after more than one year (454,366)
Net liabilities (28,586)
 

Capital and reserves
   
Called up share capital 100 
Profit and loss account (28,686)
Shareholder's funds (28,586)
 


For the period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 October 2023 and were signed on its behalf by:


-------------------------------
Carolyn Mandache
Director
2
General Information
Migsoft Properties Limited is a private company, limited by shares, registered in Scotland, registration number SC720345, registration address 19 Cowan Road, Cumbernauld, Glasgow, G68 9BX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
At the balance sheet date, the companys liabilities exceeded its total assets by £28,586. In order to meet its day to day working capital requirements, the company requires the continuing support of the directors.




The financial statements have been prepared on an ongoing basis which assumes that the company will continue in operational existence for the foreseeable future.


If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, to provide further liabilities that might arise.


The directors believe that it is appropriate for the financial statements to be prepared on a going concern basis.



Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0 Straight Line
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 19 January 2022  
Additions 412,006    412,006 
Disposals  
At 30 June 2023 412,006    412,006 
Depreciation
At 19 January 2022  
Charge for period  
On disposals  
At 30 June 2023  
Net book values
Closing balance as at 30 June 2023 412,006    412,006 
Opening balance as at 19 January 2022  


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