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Unaudited Financial Statements

for the Year Ended 31 July 2024

for

MG Apartment Management Limited

MG Apartment Management Limited (Registered number: 10886674)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MG Apartment Management Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: B Gallaga
Ms P J D Mitchell





REGISTERED OFFICE: Flat 5, Gujo Oyster Pier,
Lombard Road
London
SW11 3RP





REGISTERED NUMBER: 10886674 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

MG Apartment Management Limited (Registered number: 10886674)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,799 643
Investments 5 56,250 -
64,049 643

CURRENT ASSETS
Debtors 6 96,882 79,364
Investments 7 3,706 4,078
Cash at bank 37,289 47,210
137,877 130,652
CREDITORS
Amounts falling due within one year 8 106,107 93,177
NET CURRENT ASSETS 31,770 37,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,819

38,118

CREDITORS
Amounts falling due after more than one
year

9

32,248

39,018
NET ASSETS/(LIABILITIES) 63,571 (900 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 63,471 (1,000 )
SHAREHOLDERS' FUNDS 63,571 (900 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by:



Ms P J D Mitchell - Director


MG Apartment Management Limited (Registered number: 10886674)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

MG Apartment Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and Straight line over 3 years

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

MG Apartment Management Limited (Registered number: 10886674)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 3,808
Additions 8,102
At 31 July 2024 11,910
DEPRECIATION
At 1 August 2023 3,165
Charge for year 946
At 31 July 2024 4,111
NET BOOK VALUE
At 31 July 2024 7,799
At 31 July 2023 643

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
Additions 56,250
At 31 July 2024 56,250
NET BOOK VALUE
At 31 July 2024 56,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,978 15,971
Amounts owed by group undertakings 1,887 3,987
Other debtors 84,017 59,406
96,882 79,364

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 3,706 4,078

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,071 6,135
Trade creditors 31,113 47,097
Taxation and social security 15,267 4,688
Other creditors 53,656 35,257
106,107 93,177

MG Apartment Management Limited (Registered number: 10886674)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 32,248 39,018

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,328 6,362

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100