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REGISTERED NUMBER: OC434019 (England and Wales)










REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MWGG INVESTMENT GROUP LLP

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


MWGG INVESTMENT GROUP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DESIGNATED MEMBERS: Mr M W J Taylor
MWGG Ltd





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: OC434019 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 OCTOBER 2023

The members present their report with the financial statements of the LLP for the year ended 31 October 2023.

INCORPORATION
The LLP was incorporated on 30 October 2020 and commenced trading on 1 November 2022.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property investment and lettings.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr M W J Taylor
MWGG Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £56,640.

MEMBERS' INTERESTS
The report of the members have been prepared in accordance with the special provisions of the Companies Act 2006 ((as applied by the LLP) (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008) applicable to the LLPs subject to the small LLPs regime.

The members' subscription to capital is as determined by the members from time to time having regard to the short,
medium and long term needs of the business. The level of capital contribution depends on the member's number of
profit sharing units.

On retirement, capital is repaid to the members.

Details of changes in members' capital in the period ended 31 October 2023 are set out in the financial statements.

Members are remunerated from the profits of the LLP. Profits are allocated and divided between members as agreed by the members from time to time.

Members draw a proportion of their profit share monthly during the year in which it is made, with the balance of profits
being distributed after the year, subject to the cash requirements of the business.

Unrealised fair value adjustments are not shared among the members.

Losses are not shared among the members in accordance with the limited liability partnership agreement.

ON BEHALF OF THE MEMBERS:





Mr M W J Taylor - Designated member


30 October 2024

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MWGG INVESTMENT GROUP LLP


In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of MWGG Investment Group LLP for the year ended 31 October 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of MWGG Investment Group LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MWGG Investment Group LLP and state those matters that we have agreed to state to the members of MWGG Investment Group LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MWGG Investment Group LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that MWGG Investment Group LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MWGG Investment Group LLP. You consider that MWGG Investment Group LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MWGG Investment Group LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA


30 October 2024

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)

INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

£   

TURNOVER 83,853

Administrative expenses 27,213
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



56,640

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

Notes £    £   
FIXED ASSETS
Investment property 4 3,297,651

CURRENT ASSETS
Debtors 5 12,060
Cash at bank 42,517
54,577
CREDITORS
Amounts falling due within one year 6 3,304,184
NET CURRENT LIABILITIES (3,249,607 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 48,044

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

56,640

MEMBERS' OTHER INTERESTS
Capital accounts (8,596 )
48,044

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 56,640
Members' other interests (8,596 )
48,044

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 October 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 30 October 2024 and were signed by:



Mr M W J Taylor - Designated member

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

MWGG Investment Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the
purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL.

MWGG INVESTMENT GROUP LLP (REGISTERED NUMBER: OC434019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 3,297,651
At 31 October 2023 3,297,651
NET BOOK VALUE
At 31 October 2023 3,297,651

The members consider the market values of the properties to be as stated in the accounts as at year-end.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 12,060

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 16,278
Other creditors 3,287,906
3,304,184

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a
winding up.