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Company Registration No. 10997057 (England and Wales)
MG Investments London Limited Unaudited accounts for the year ended 31 October 2024
MG Investments London Limited Unaudited accounts Contents
Page
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MG Investments London Limited Company Information for the year ended 31 October 2024
Director
Michele Guerrieri
Company Number
10997057 (England and Wales)
Registered Office
32 Battery Road London SE28 0JS
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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MG Investments London Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
1,275,854 
1,275,854 
Current assets
Debtors
353,391 
354,514 
Cash at bank and in hand
986 
1,998 
354,377 
356,512 
Creditors: amounts falling due within one year
(1,625,868)
(1,629,058)
Net current liabilities
(1,271,491)
(1,272,546)
Net assets
4,363 
3,308 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
4,263 
3,208 
Shareholders' funds
4,363 
3,308 
For the year ending 31 October 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 24 July 2025 and were signed on its behalf by
Michele Guerrieri Director Company Registration No. 10997057
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MG Investments London Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
MG Investments London Limited is a private company, limited by shares, registered in England and Wales, registration number 10997057. The registered office is 32 Battery Road, London, SE28 0JS.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in shares are included at fair value.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Investments
Subsidiary undertakings 
£ 
Valuation at 1 November 2023
1,275,854 
Valuation at 31 October 2024
1,275,854 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
130,589 
132,740 
Other debtors
222,802 
221,774 
353,391 
354,514 
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MG Investments London Limited Notes to the Accounts for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
1,524,357 
1,526,504 
Taxes and social security
55 
- 
Other creditors
99,313 
100,411 
Loans from directors
43 
43 
Accruals
2,100 
2,100 
1,625,868 
1,629,058 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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