Msg Developments LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC357921

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		850,000		850,000

			850,000		850,000
CURRENT ASSETS
Debtors	5	2,651		2,576
Cash at bank and in hand		1,286		2,398

		3,937		4,974
Creditors: Amounts Falling Due Within One Year	6	(79,390 )		(79,067 )

NET CURRENT ASSETS (LIABILITIES)			(75,453 )		(74,093 )

TOTAL ASSETS LESS CURRENT LIABILITIES			774,547		775,907

Creditors: Amounts Falling Due After More Than One Year	7		(398,626 )		(446,219 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			375,921		329,688

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		255,783		209,550

			255,783		209,550

Equity
Members' other interests
Revaluation reserve		120,138		120,138

			120,138		120,138

			375,921		329,688

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			255,783		209,550
Members' other interests			120,138		120,138

			375,921		329,688

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Msg Developments LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr A M Sephton

Designated Member

23/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Msg Developments LLP is a limited liability partnership, incorporated in England & Wales, registered number OC357921 . The Registered Office is Munro House, Ringtail Court, Burscough, Lancashire, L40 8LB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil - at valuation
Plant & Machinery	5 Years

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	850,000	64,537	914,537

As at 31 March 2025	850,000	64,537	914,537

Depreciation
As at 1 April 2024	-	64,537	64,537

As at 31 March 2025	-	64,537	64,537

Net Book Value
As at 31 March 2025	850,000	-	850,000

As at 1 April 2024	850,000	-	850,000

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Msg Developments LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Cost or valuation as at 31 March 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
At cost	850,000	64,537	914,537

	850,000	64,537	914,537

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	729,862

5. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Trade debtors	2,651	2,576

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Bank loans and overdrafts	51,939	51,939
Other creditors	26,031	26,031
Taxation and social security	1,420	1,097

	79,390	79,067

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 March 2024
	£	£
Bank loans	383,226	430,819
Other creditors	15,400	15,400

	398,626	446,219

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Msg Developments LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Secured Creditors

Of the creditors the following amounts are secured.

	31 March 2025		31 March 2024
	£		£
Bank loans and overdrafts	435,165		482,758

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