REGISTERED NUMBER: 03383651 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

MGA Holdings (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S M Hollyman

SECRETARY:

Lincoln Administration Limited

REGISTERED OFFICE:

Ground Floor

123 Pall Mall, St James's

London

SW1Y 5EA

REGISTERED NUMBER:

03383651 (England and Wales)

FIXED ASSETS

Investments

4

695,552

718,317

CURRENT ASSETS

Cash at bank

2,975

171

CREDITORS

Amounts falling due within one year

5

4,222

12,457

NET CURRENT LIABILITIES

(1,247

)

(12,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

694,305

706,031

CAPITAL AND RESERVES

Called up share capital

814,332

814,332

Redenomination reserve

211,621

211,621

Retained earnings

(331,648

)

(319,922

)

SHAREHOLDERS' FUNDS

694,305

706,031

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

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

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

Ms S M Hollyman - Director

1.	STATUTORY INFORMATION

MGA Holdings (UK) 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.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair Value through profit or loss.

The financial statements are prepared in Euro, which is the functional currency of the entity.

Significant judgements and estimates

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Value of the company's investments in Blueberry N.V.

Turnover

Turnover is measured at the fair value of the consideration received and represents amounts receivable for services rendered.

Revenue from the rendering services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome can not be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial Instruments are initially recognised at the transact.ion price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument, The market rate of interest for loans to the joint venture is considered to be 12 month LIBOR + 0.125%.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant these are assessed individually for impairment. Other financial assets are either

assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset.that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

31.12.24

31.12.23

€

€

Participating interests

513,028

513,028

Loans to undertakings in which the company has a participating interest

182,524

205,289

695,552

718,317

Additional information is as follows:

Interest in

associate

€

COST

At 1 January 2024

and 31 December 2024

513,028

NET BOOK VALUE

At 31 December 2024

513,028

At 31 December 2023

513,028

Loans to

associates

€

At 1 January 2024

205,289

Repayment in year

(22,765

)

At 31 December 2024

182,524

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Trade creditors

4,222

12,457

6.	RELATED PARTY DISCLOSURES

The amounts included in turnover represent management fees paid by the shareholders.