The members present their annual report and financial statements for the period ended 31 March 2025.
The principal activity of the limited liability partnership continued to be that of a dormant partnership.
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.
A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".
The designated members who held office during the period and up to the date of signature of the financial statements were as follows:
This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.
MG2 Productions LLP is a limited liability partnership incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.
The limited liability partnership's principal activities are disclosed in the Members' Report.
The reporting period has been shortened. The reason for shortening the reporting period is due to directors' decision. This means that comparative amounts presented in the financial statements are not entirely comparable.
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The LLP has not traded during the period or the preceding financial period. During this time, the LLP received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
The average number of persons (excluding members) employed by the partnership during the period was: