Company Registration No. 14268935 (England and Wales)
Mgsg Enterprise Ltd
Unaudited accounts
for the year ended 31 August 2024
Mgsg Enterprise Ltd
Unaudited accounts
Contents
Mgsg Enterprise Ltd
Company Information
for the year ended 31 August 2024
Director
Mikael Gabre Griffiths
Company Number
14268935 (England and Wales)
Registered Office
124 City Road
London
EC1V 2NX
England
Accountants
The Accountants & Management Consultants Ltd
6 Frome Drive
Crumpsall
Manchester
M8 0GA
Mgsg Enterprise Ltd
Statement of financial position
as at 31 August 2024
Investment property
268,735
-
Cash at bank and in hand
61,546
21,604
Creditors: amounts falling due within one year
(360,361)
(22,747)
Net current liabilities
(279,268)
(1,143)
Net liabilities
(10,533)
(1,143)
Called up share capital
100
100
Profit and loss account
(10,633)
(1,243)
Shareholders' funds
(10,533)
(1,143)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2025 and were signed on its behalf by
Mikael Gabre Griffiths
Director
Company Registration No. 14268935
Mgsg Enterprise Ltd
Notes to the Accounts
for the year ended 31 August 2024
Mgsg Enterprise Ltd is a private company, limited by shares, registered in England and Wales, registration number 14268935. The registered office is 124 City Road, London, EC1V 2NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company's financial statements for the period ended 31 August 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The director does not consider the market value of investment property to be materially different from the value stated in the
financial statements as at 31 August 2024.
Amounts falling due within one year
Accrued income and prepayments
19,499
-
Mgsg Enterprise Ltd
Notes to the Accounts
for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
198,701
22,747
Other creditors relates to a mortgage balance which is secured against the company property.
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).