MG Urban Investments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13744396

MG Urban Investments Limited

Filleted Unaudited Financial Statements

28 February 2025

MG Urban Investments Limited

Financial Statements

Year ended 28 February 2025

Contents	Pages

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

MG Urban Investments Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of MG Urban Investments Limited

Year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MG Urban Investments Limited for the year ended 28 February 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of MG Urban Investments Limited. Our work has been undertaken solely to prepare for your approval the financial statements of MG Urban Investments Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MG Urban Investments Limited and its director for our work or for this report.

It is your duty to ensure that MG Urban Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MG Urban Investments Limited. You consider that MG Urban Investments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of MG Urban Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

10 September 2025

MG Urban Investments Limited

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	629,500	551,300

Current assets

Debtors	5	1,866	3,383
Cash at bank and in hand		94,701	2,096
		--------	-------
		96,567	5,479

Creditors: amounts falling due within one year	6	295,586	277,191
		---------	---------
Net current liabilities		199,019	271,712
		---------	---------
Total assets less current liabilities		430,481	279,588

Creditors: amounts falling due after more than one year	7	393,121	304,960

Provisions	8,626	–
	---------	---------
Net assets/(liabilities)	28,734	( 25,372)
	---------	---------

MG Urban Investments Limited

Statement of Financial Position (continued)

28 February 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	100	100
Revaluation reserve	61,195	–
Profit and loss account	( 32,561)	( 25,472)
	--------	--------
Shareholder funds/(deficit)	28,734	( 25,372)
	--------	--------

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 statement of comprehensive income has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year 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 10 September 2025 , and are signed on behalf of the board by:

Mr M P S Crookes
Director

Company registration number: 13744396

MG Urban Investments Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, South Yorkshire, S11 8YZ, United Kingdom.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Going concern

At the period end date, the Statement of Financial Position reflects a net current liability position, if with positive total assets. The director is of the opinion that the adopted going concern policy remains appropriate given the ongoing financial support provided to the company by the director himself, allied to commercial finance, and with no indication nor expectation of any repayment of the director loan in the foreseeable future unless cash flow permits.

Accounting reference date

Following incorporation of the company on 15 November 2021, the accounting reference date was changed, for commercial reasons, from the default date to the 28th of February 2023 and annually thereafter.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable by way of rental income and services rendered.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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.

4. Tangible assets

	Investment property
	£
Cost or valuation
At 1 March 2024	551,300
Additions	8,379
Revaluations	69,821
	---------
At 28 February 2025	629,500
	---------
Depreciation
At 1 March 2024 and 28 February 2025	–
	---------
Carrying amount
At 28 February 2025	629,500
	---------
At 29 February 2024	551,300
	---------

The company property values have been reviewed and reconsidered at the period end date in relation to the then open market values. The property portfolio has been revalued at the year end date, this supported by professional valuations and the directors assessment of open market value based on comparables in the market and as set out above.

5. Debtors

	2025	2024
	£	£
Other debtors	1,866	3,383
	-------	-------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	295,586	277,191
	---------	---------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	393,121	304,960
	---------	---------

The total of creditors payable after more than one year is in respect of loans which are secured on the company properties, which loans are currently on an interest only basis and with repayment or restructuring within periods of between two to four years of the accounting period end date.

8. Director's advances, credits and guarantees

A loan account exists as between the director and the company. As a result of further advances made to the company during the period, there is a closing balance of monies owing to the director, at the period end date, in the sum of £292,478 (2024: £268,134). There are no formal terms for repayment of the loan balance and interest is not being charged. The loan balance is included within "other creditors" at note 8 above.