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Registration number: 13218869

MPG Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

MPG Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

MPG Investments Ltd

Company Information

Directors

Mr Stephen Masters

Mrs Natalie Masters

Registered office

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

MPG Investments Ltd

(Registration number: 13218869)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,755,000

1,755,000

Current assets

 

Debtors

5

200

18,865

Cash at bank and in hand

 

501

698

 

701

19,563

Creditors: Amounts falling due within one year

6

(25,326)

(37,753)

Net current liabilities

 

(24,625)

(18,190)

Total assets less current liabilities

 

1,730,375

1,736,810

Creditors: Amounts falling due after more than one year

6

(1,343,995)

(1,318,394)

Provisions for liabilities

(115,018)

96,018

Net assets

 

271,362

514,434

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

490,338

720,373

Retained earnings

(219,076)

(206,039)

Shareholders' funds

 

271,362

514,434

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
Mr Stephen Masters
Director

 

MPG Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

MPG Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 March

1,755,000

At 29 February

1,755,000

The fair value of the property at 29th February 2024 has been arrived at based on a valuation carried out at that
date by the director of the company, who is not a professionally qualified valuer. The valuation of £1,755,000
was arrived at by reference to the market evidence of transaction prices for similar properties in its location the
property is situated

5

Debtors

 

MPG Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Debtors (continued)

Current

2024
£

2023
£

Trade debtors

-

(135)

Other debtors

200

19,000

 

200

18,865

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

135

-

Accruals and deferred income

945

1,755

Other creditors

24,246

35,998

25,326

37,753

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,145,806

1,125,925

Other non-current financial liabilities

 

198,189

192,469

 

1,343,995

1,318,394

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,145,806

1,125,925