IRIS Accounts Production v24.3.0.553 05026203 Board of Directors 1.2.23 31.1.24 31.1.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050262032023-01-31050262032024-01-31050262032023-02-012024-01-31050262032022-01-31050262032022-02-012023-01-31050262032023-01-3105026203ns15:EnglandWales2023-02-012024-01-3105026203ns14:PoundSterling2023-02-012024-01-3105026203ns10:Director12023-02-012024-01-3105026203ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3105026203ns10:SmallEntities2023-02-012024-01-3105026203ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3105026203ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3105026203ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3105026203ns10:FullAccounts2023-02-012024-01-3105026203ns10:Director22023-02-012024-01-3105026203ns10:CompanySecretary12023-02-012024-01-3105026203ns10:RegisteredOffice2023-02-012024-01-3105026203ns5:CurrentFinancialInstruments2024-01-3105026203ns5:CurrentFinancialInstruments2023-01-3105026203ns5:Non-currentFinancialInstruments2024-01-3105026203ns5:Non-currentFinancialInstruments2023-01-3105026203ns5:ShareCapital2024-01-3105026203ns5:ShareCapital2023-01-3105026203ns5:RetainedEarningsAccumulatedLosses2024-01-3105026203ns5:RetainedEarningsAccumulatedLosses2023-01-3105026203ns5:PlantMachinery2023-02-012024-01-3105026203ns5:PlantMachinery2023-01-3105026203ns5:PlantMachinery2024-01-3105026203ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3105026203ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-31
REGISTERED NUMBER: 05026203 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

M G Land & Properties Limited

M G Land & Properties Limited (Registered number: 05026203)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M G Land & Properties Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S H MacDonald-Gay
F A MacDonald-Gay





SECRETARY: F A MacDonald-Gay





REGISTERED OFFICE: 2 Church Street
Burnham
Buckinghamshire
SL1 7HZ





REGISTERED NUMBER: 05026203 (England and Wales)





ACCOUNTANTS: Sweeting & Smedley Limited
2 Church Street
Burnham
Buckinghamshire
SL1 7HZ

M G Land & Properties Limited (Registered number: 05026203)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 477,650 218,000
477,650 218,000

CURRENT ASSETS
Debtors 6 912 180
Cash at bank 10,394 14,013
11,306 14,193
CREDITORS
Amounts falling due within one year 7 337,772 52,542
NET CURRENT LIABILITIES (326,466 ) (38,349 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,184

179,651

CREDITORS
Amounts falling due after more than one
year

8

(89,887

)

(89,887

)

PROVISIONS FOR LIABILITIES (16,828 ) (25,079 )
NET ASSETS 44,469 64,685

CAPITAL AND RESERVES
Called up share capital 100 2
Retained earnings 44,369 64,683
SHAREHOLDERS' FUNDS 44,469 64,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M G Land & Properties Limited (Registered number: 05026203)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 12 October 2024 and were signed on its behalf by:





S H MacDonald-Gay - Director


M G Land & Properties Limited (Registered number: 05026203)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

M G Land & Properties 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 as modified by the revaluation of certain assets.

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 etc - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 1,471
DEPRECIATION
At 1 February 2023
and 31 January 2024 1,471
NET BOOK VALUE
At 31 January 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 218,000
Additions 292,650
Revaluations (33,000 )
At 31 January 2024 477,650
NET BOOK VALUE
At 31 January 2024 477,650
At 31 January 2023 218,000

M G Land & Properties Limited (Registered number: 05026203)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2013 12,319
Valuation in 2014 2,000
Valuation in 2016 3,000
Valuation in 2017 2,000
Valuation in 2018 500
Valuation in 2020 1,500
Valuation in 2021 6,000
Valuation in 2022 30,000
Valuation in 2023 43,000
Valuation in 2024 (33,000 )
Cost 410,331
477,650

If investment properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 410,331 117,681

Investment property was valued on a fair value basis on 31 January 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 912 180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other creditors 337,772 52,542

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 89,887 89,887

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Mortgage 89,887 89,887

The mortgage is secured against the investment property at Borough Green.

M G Land & Properties Limited (Registered number: 05026203)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.