MSG House Gloucester Road Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15282638

MSG HOUSE GLOUCESTER ROAD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 December 2024

MSG HOUSE GLOUCESTER ROAD LIMITED

BALANCE SHEET

31 December 2024

	31 Dec 24
Note	£

Fixed assets

Intangible assets	5	24,583
Tangible assets	6	282,407
		--------
		306,990

Current assets

Stocks		9,858
Debtors	7	40,361
Cash at bank and in hand		46,876
		-------
		97,095

Creditors: amounts falling due within one year	8	474,807
		--------
Net current liabilities		377,712
		--------
Total assets less current liabilities		( 70,722)
		-------
Net liabilities		( 70,722)
		-------

Capital and reserves

Called up share capital	9	100
Profit and loss account		( 70,822)
		-------
Shareholders deficit		( 70,722)
		-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

M S Grewal
Director

Company registration number: 15282638

MSG HOUSE GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 14 NOVEMBER 2023 TO 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 North Bar, Banbury, OX16 0TB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, notwithstanding the net current liabilities of £70,722. A company controlled by the shareholder has confirmed the intention to financially support the company for at least 12 months from the date of approval of these financial statements. Included in creditors due within one year is an amount of £102,045 due to the related company. The related party creditor has provided assurance that repayment of the outstanding balance will not be demanded for the foreseeable future. Consequently, the director believes that the company is well placed to manage its business risks and meet liabilities as they fall due. For this reason, he continues to adopt the going concern basis in preparing accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. The aggregate benefit of lease incentives is recognised as a reduction to expenses over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Franchise fees	-	Straight line basis over the term on the franchise agreement

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	Straight line basis over the term of the trading property lease period
Fixtures and fittings	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, and loans from other related entities, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 3 .

5. Intangible assets

	Franchise fees
	£
Cost
Additions	25,000
	-------
At 31 December 2024	25,000
	-------
Amortisation
Charge for the period	417
	-------
At 31 December 2024	417
	-------
Carrying amount
At 31 December 2024	24,583
	-------

6. Tangible assets

	Leasehold improvements	Fixtures and fittings	Total
	£	£	£
Cost
At 14 November 2023	–	–	–
Additions	103,120	186,359	289,479
	--------	--------	--------
At 31 December 2024	103,120	186,359	289,479
	--------	--------	--------
Depreciation
At 14 November 2023	–	–	–
Charge for the period	859	6,213	7,072
	--------	--------	--------
At 31 December 2024	859	6,213	7,072
	--------	--------	--------
Carrying amount
At 31 December 2024	102,261	180,146	282,407
	--------	--------	--------

7. Debtors

	31 Dec 24
	£
Trade debtors	7,024
Other debtors	33,337
	-------
	40,361
	-------

8. Creditors: amounts falling due within one year

	31 Dec 24
	£
Trade creditors	22,720
Social security and other taxes	1,973
Amounts owed to other related entities	102,045
Other creditors	348,069
	--------
	474,807
	--------

9. Called up share capital

Issued, called up and fully paid

	31 Dec 24
	No.	£
Ordinary shares of £ 0.01 each	10,000	100
	-------	----

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	31 Dec 24
	£
Not later than 1 year	27,915
Later than 1 year and not later than 5 years	186,849
Later than 5 years	484,668
	--------
	699,432
	--------

11. Controlling party

The company was controlled by Townhouse Group Limited to 11 June 2024. From 11 June 2024 the company is controlled by M S Grewal , the director.