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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
Page
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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
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Mgsg Enterprise Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
268,735 
- 
Current assets
Debtors
19,547 
- 
Cash at bank and in hand
61,546 
21,604 
81,093 
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)
Capital and reserves
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
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Mgsg Enterprise Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
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.
4
Investment property
2024 
£ 
Additions
268,735 
At 31 August 2024
268,735 
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.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
48 
- 
Accrued income and prepayments
19,499 
- 
19,547 
- 
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Mgsg Enterprise Ltd Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
161,000 
- 
Loans from directors
198,701 
22,747 
Accruals
660 
- 
360,361 
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).
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