MWGG Investment Group LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC434019 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

MWGG INVESTMENT GROUP LLP

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

3,297,651

CURRENT ASSETS

Debtors

5

22,391

12,060

Cash at bank

22,250

42,517

44,641

54,577

CREDITORS

Amounts falling due within one year

6

3,279,040

3,304,184

NET CURRENT LIABILITIES

(3,234,399

)

(3,249,607

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

63,252

48,044

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

87,419

56,640

MEMBERS' OTHER INTERESTS

Capital accounts

(24,167

)

(8,596

)

63,252

48,044

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

87,419

56,640

Members' other interests

(24,167

)

(8,596

)

63,252

48,044

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 October 2024.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 October 2025 and were signed by:

Mr W L G Taylor - Designated member

1.	STATUTORY INFORMATION

MWGG Investment Group LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC434019

Registered office:

1 Kings Avenue

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value of rental income chargeable in respect of the company's investment property.

Revenue is recognised evenly over the period of the rental agreement.

Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the

purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

and 31 October 2024

3,297,651

NET BOOK VALUE

At 31 October 2024

3,297,651

At 31 October 2023

3,297,651

Investment properties have been recorded at the following historical cost:

2024

2023

£

Cost

3,297,651

The members consider the market value of the investment properties at the year end to be as stated in the accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

22,391

12,060

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

3,864

16,278

Other creditors

3,275,176

3,287,906

3,279,040

3,304,184

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2024

2023

£

Amounts owed to members in respect of profits

87,419

56,640

Falling due within one year

87,419

56,640

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a

winding up.