Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-3022023-07-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04478042 2023-07-01 2024-06-30 04478042 2022-07-01 2023-06-30 04478042 2024-06-30 04478042 2023-06-30 04478042 c:Director1 2023-07-01 2024-06-30 04478042 d:PlantMachinery 2023-07-01 2024-06-30 04478042 d:PlantMachinery 2024-06-30 04478042 d:PlantMachinery 2023-06-30 04478042 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04478042 d:CurrentFinancialInstruments 2024-06-30 04478042 d:CurrentFinancialInstruments 2023-06-30 04478042 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04478042 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04478042 d:ShareCapital 2024-06-30 04478042 d:ShareCapital 2023-06-30 04478042 d:RetainedEarningsAccumulatedLosses 2024-06-30 04478042 d:RetainedEarningsAccumulatedLosses 2023-06-30 04478042 c:FRS102 2023-07-01 2024-06-30 04478042 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04478042 c:FullAccounts 2023-07-01 2024-06-30 04478042 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04478042 6 2023-07-01 2024-06-30 04478042 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04478042









MGN UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MGN UK LIMITED
REGISTERED NUMBER: 04478042

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
122
163

Investments
 6 
382,919
367,889

  
383,041
368,052

Current assets
  

Debtors: amounts falling due within one year
 7 
3,381
6,523

Cash at bank and in hand
 8 
76,705
46,341

  
80,086
52,864

Creditors: amounts falling due within one year
 9 
(127,788)
(156,552)

Net current liabilities
  
 
 
(47,702)
 
 
(103,688)

Total assets less current liabilities
  
335,339
264,364

  

Net assets
  
335,339
264,364


Capital and reserves
  

Called up share capital 
  
175,000
175,000

Profit and loss account
  
160,339
89,364

  
335,339
264,364


Page 1

 
MGN UK LIMITED
REGISTERED NUMBER: 04478042
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Michael Nathan
Director

Date: 3 March 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MGN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

MGN UK Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 16 Cliveden Place, Belgravia, London, SW1W 8LA.
The company's principal activity is that of trading in investments. 
The financial statements are presented in sterling which is the functional currency of the company androunded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set outbelow. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MGN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.


3.


Operating income

2024
2023
£
£

Profit on disposal of listed investments - realised
3,157
36,844

Decrease (increase) in impairment of listed investments - unrealised
52,625
(24,425)

55,782
12,419


Page 4

 
MGN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Employees

2024
2023
£
£

Wages and salaries
3,000
3,000

3,000
3,000


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 July 2023
13,263



At 30 June 2024

13,263



Depreciation


At 1 July 2023
13,100


Charge for the year on owned assets
41



At 30 June 2024

13,141



Net book value



At 30 June 2024
122



At 30 June 2023
163

Page 5

 
MGN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 July 2023
367,889


Additions
143,787


Disposals
(181,381)


Revaluations
52,624



At 30 June 2024
382,919






Net book value



At 30 June 2024
382,919



At 30 June 2023
367,889




7.


Debtors

2024
2023
£
£


Trade debtors
3,359
6,502

Other debtors
22
21

3,381
6,523



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
76,705
46,341

76,705
46,341


Page 6

 
MGN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
4,258

Other taxation and social security
98
94

Other creditors
125,000
150,000

Accruals and deferred income
2,690
2,200

127,788
156,552


 
Page 7