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MODELGATE LIMITED
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Notes to the financial statements
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for the year ended 30 November 2023
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1
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Company information
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The company is registered in England and Wales. Its registered number is 07438290. The company is
limited by shares. Its registered office is I O N, Unit 1, London, London, NW10 6AW.
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2
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Accounting policies
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Basis of preparing the financial statements
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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 historic cost convention.
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Going concern
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In preparing these financial statements, the director has assessed whether there are any material
uncertainties related to events or conditions that cast significant doubt upon the company's ability to
continue as a going concern. In making this assessment, the director takes into account all available
information about the future which is at least 12 months from the date that the financial statements are
authorised for issue.
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The director considers that the company has adequate resources to continue in business for the
foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial
statements.
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Investment property
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Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.
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3
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Average number of employees
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During the year the average number of employees was Nil (2022 - Nil).
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4
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Investment property
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£
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Valuation
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At 1 December 2022
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580,000
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At 30 November 2023
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580,000
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3
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