Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312023-09-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity11falsetruefalse 14270791 2023-09-01 2024-08-31 14270791 2022-08-02 2023-08-31 14270791 2024-08-31 14270791 2023-08-31 14270791 c:Director1 2023-09-01 2024-08-31 14270791 c:RegisteredOffice 2023-09-01 2024-08-31 14270791 d:CurrentFinancialInstruments 2024-08-31 14270791 d:CurrentFinancialInstruments 2023-08-31 14270791 d:Non-currentFinancialInstruments 2024-08-31 14270791 d:Non-currentFinancialInstruments 2023-08-31 14270791 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 14270791 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 14270791 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 14270791 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 14270791 d:ShareCapital 2024-08-31 14270791 d:ShareCapital 2023-08-31 14270791 d:RetainedEarningsAccumulatedLosses 2024-08-31 14270791 d:RetainedEarningsAccumulatedLosses 2023-08-31 14270791 c:FRS102 2023-09-01 2024-08-31 14270791 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 14270791 c:FullAccounts 2023-09-01 2024-08-31 14270791 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14270791 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Company registration number: 14270791







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024


MGH1 LTD






































img496c.png                        

 


MGH1 LTD
 


 
COMPANY INFORMATION


Director
M McElduff 




Registered number
14270791



Registered office
Cheeca Lodge
Flower Lane

Godstone

England

RH9 8DE




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


MGH1 LTD
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4

 


MGH1 LTD
REGISTERED NUMBER:14270791



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
10,671,314
-

Debtors: amounts falling due within one year
 5 
6,008
100

Cash at bank and in hand
  
896
-

  
10,678,218
100

Creditors: amounts falling due within one year
 6 
(24,481)
-

Net current assets
  
 
 
10,653,737
 
 
100

Total assets less current liabilities
  
10,653,737
100

Creditors: amounts falling due after more than one year
 7 
(10,659,900)
-

  

Net (liabilities)/assets
  
(6,163)
100


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
(6,263)
-

  
(6,163)
100



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.

Page 1

 


MGH1 LTD
REGISTERED NUMBER:14270791


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

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: 




M McElduff
Director

Date: 30 April 2025

The notes on pages 3 to 4 form part of these financial statements.
Page 2

 


MGH1 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

MGH1 Ltd is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found on the company information page.
The company was dormant from incorporation to 8 October 2023. Trading commenced on the 9 October 2023.
The significant accounting policies applied in the preparation of these financial statements are set out below.

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

Going concern

As at 31 August 2024 the company had net liabilities of £6,163 (2023 - £100) net assets. During the year the company had a property development in progress and the director believes that the going concern basis is appropriate.

 
2.3

Stocks

Work in progress is valued on the basis of direct costs incurred. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of the work in progress.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).




Page 3

 


MGH1 LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Stocks

2024
2023
£
£

Work in progress
10,671,314
-

10,671,314
-



5.


Debtors

2024
2023
£
£


Other debtors
6,008
100

6,008
100



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
18,481
-

Accruals and deferred income
6,000
-

24,481
-



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
10,659,900
-

10,659,900
-


Paragon Development Finance Limited holds a fixed and floating charge over MGH1 Ltd, which is secured against the assets and undertakings of the company.

Mark James Noble holds fixed charges and negative pledges over MGH1 Ltd, which is secured against the assets and undertakings of the company.
 
Page 4