Company No: 05381408 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	17,465		14,858
		17,465		14,858
Current assets
Stocks		2,000		2,000
Debtors	5	17,087		79,141
Cash at bank and in hand		11,982		9,542
		31,069		90,683
Creditors: amounts falling due within one year	6	( 31,667)		( 31,320)
Net current (liabilities)/assets		(598)		59,363
Total assets less current liabilities		16,867		74,221
Provision for liabilities		0		604
Net assets		16,867		74,825
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		16,767		74,725
Total shareholder's funds		16,867		74,825

For the financial year ending 31 March 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of MGM Torbay Limited (registered number: 05381408) were approved and authorised for issue by the Director on 11 September 2025. They were signed on its behalf by:

M Javadi Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MGM Torbay Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom

The principal place of business is:
2 Vaughan Parade
Torquay
TQ2 5EF

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of bar, food and sundry takings in the ordinary course of the company’s activities, and is shown net of value added tax.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements	not depreciated
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		9

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	399,999		399,999
At 31 March 2025	399,999		399,999
Accumulated amortisation
At 01 April 2024	399,999		399,999
At 31 March 2025	399,999		399,999
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Total
	£		£		£
Cost
At 01 April 2024	1		50,261		50,262
Additions	0		8,436		8,436
At 31 March 2025	1		58,697		58,698
Accumulated depreciation
At 01 April 2024	0		35,404		35,404
Charge for the financial year	0		5,829		5,829
At 31 March 2025	0		41,233		41,233
Net book value
At 31 March 2025	1		17,464		17,465
At 31 March 2024	1		14,857		14,858

5. Debtors

	2025		2024
	£		£
Trade debtors	0		5,080
Amounts owed by director	8,663		62,511
Prepayments	5,782		4,997
VAT recoverable	2,642		1,413
Other debtors	0		5,140
	17,087		79,141

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	22,312		13,609
Accruals	5,102		2,800
Other taxation and social security	985		1,502
Other creditors	3,268		13,409
	31,667		31,320

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Brought forward balance	62,511		58,254
Advances to directors	36,152		99,191
Repayments by director	(90,000)		(94,934)
Carried forward balance	8,663		62,511

The loan is repayable on demand and interest has been charged at HMRC's official rate.