Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Investments held as current assets | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | 9 | ||||||
Fair value reserve | 10 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
M G Peters | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
Office equipment | Fully depreciated | |||||||
Computer equipment | Fully depreciated | |||||||
Investment properties | ||||||||
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value where they can be measured reliably without undue cost or effort on an on-going basis . Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses. Investment properties values of £3,282,000 were determined by the director based on informal discussions with property professionals together with research from specialist websites and market data. |
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Investments | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Foreign currency translation | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Investment properties | Office and computer equipment | Total | ||||||
£ | £ | £ | ||||||
Cost or valuation | ||||||||
At 1 January 2023 | ||||||||
Surplus on revaluation | - | |||||||
Disposals | ( |
- | ( |
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At 31 December 2023 | ||||||||
Depreciation | ||||||||
At 1 January 2023 | - | |||||||
At 31 December 2023 | - | |||||||
Net book value | ||||||||
At 31 December 2023 | - | |||||||
At 31 December 2022 | - | |||||||
Freehold land and buildings: | 2023 | 2022 | ||||||
£ | £ | |||||||
Historical cost | 1,726,075 | 2,171,610 | ||||||
4 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
5 | Investments held as current assets | 2023 | 2022 | |||||
£ | £ | |||||||
Fair value | ||||||||
Listed investments | 73,303 | 107,406 | ||||||
Unlisted investments | 301 | 133 | ||||||
Increase/(decrease) in fair value included in the profit and loss account for the financial year | ||||||||
Listed investments | 2,096 | (53,475) | ||||||
The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date. Other investments are measured at cost less any impairment losses. |
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6 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | ||||||||
8 | Loans | 2023 | 2022 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | 134,254 | 539,563 | ||||||
9 | Share capital | Nominal | 2023 | 2023 | 2022 | |||
value | Number | £ | £ | |||||
Ordinary shares | £1 each | 1,122,864 | 1,122,864 | 1,122,864 | ||||
10 | Fair value reserve | 2023 | 2022 | |||||
£ | £ | |||||||
At 1 January 2023 | ||||||||
Transfer fair value gains on investment properties sold | (284,069) | - | ||||||
Transfer profit and loss account | ( |
( |
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At 31 December 2023 | ||||||||
11 | Related party transactions | |||||||
Interest at 5% per annum on the amounts owed has been accrued in these financial statements. The interest charged is £ NIL ( 2022- £948). Amount due to the director at the financial year end was £ 6,825 ( 2022- £22,614). An investment property was sold in the year to a director for £417,947,net of costs. The sale consideration is considered to represent the market value of the propertyat the time of sale. |
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12 | Other information | |||||||
M G P Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Farlea | ||||||||
Billingshurst Road | ||||||||
Wisborough Green | ||||||||
West Sussex | ||||||||
RH14 0DZ |