Limited Liability Partnership registration number OC316028 (England and Wales)
MG2 PRODUCTIONS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MG2 PRODUCTIONS LLP
CONTENTS
Page
Members' report
1
Balance sheet
2
Notes to the financial statements
3
MG2 PRODUCTIONS LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -
The members present their annual report and financial statements for the year ended 30 November 2024.
Principal activities
The principal activity of the limited liability partnership continued to be that of a dormant partnership.
Members' drawings, contributions and repayments
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.
A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".
Designated members
The designated members who held office during the year and up to the date of signature of the financial statements were as follows:
C Garapedian
T Swain
Small LLPs exemption
This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.
Approved by the members on 6 December 2024 and signed on behalf by:
06 December 2024
C Garapedian
Designated Member
MG2 PRODUCTIONS LLP (REGISTERED NUMBER: OC316028)
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
156
156
Creditors: amounts falling due within one year
3
(940,445)
(940,445)
Net current liabilities and net liabilities attributable to members
(940,289)
(940,289)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
(940,289)
(940,289)
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 30 November 2024 the limited liability partnership was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to dormant limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 6 December 2024 and are signed on their behalf by:
06 December 2024
C Garapedian
Designated member
MG2 PRODUCTIONS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Limited liability partnership information
MG2 Productions LLP is a limited liability partnership incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Profit and loss account
The LLP has not traded during the year or the preceding financial period. During this time, the LLP received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2024
2023
Number
Number
Total
2
2
3
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
940,445
940,445