MGE Capital Management LLP Filleted accounts for Companies House (small and micro)

MGE Capital Management LLP

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	3,308	2,496

Current assets

Debtors	5	32,748	29,011
Cash at bank and in hand		37,470	2,855
		--------	--------
		70,218	31,866

Creditors: amounts falling due within one year	6	3,695	8,360
		--------	--------
Net current assets		66,523	23,506
		--------	--------
Total assets less current liabilities		69,831	26,002
		--------	--------
Net assets		69,831	26,002
		--------	--------

Represented by:

Loans and other debts due to members

Other amounts	7	54,831	11,002

Members' other interests

Members' capital classified as equity	15,000	15,000
Other reserves	–	–
	--------	--------
	69,831	26,002
	--------	--------

Total members' interests

Amounts due from members		(13,981)	(10,993)
Loans and other debts due to members	7	54,831	11,002
Members' other interests		15,000	15,000
		--------	--------
		55,850	15,009
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' 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 (as applied to LLPs), the profit and loss account has not been delivered.

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) relating to small LLPs.

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 financial statements .

MGE Capital Management LLP

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 30 December 2025 , and are signed on their behalf by:

Mr Oliver Mihaljevic

Designated Member

Registered number: OC442115

MGE Capital Management LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 1 Duke Of York Square, 6 Queripel House, London, SW3 4LY, 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', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the profit and loss account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the balance sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the profit and loss account and are equity appropriations in the balance sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the balance sheet within 'Loans and other debts due to members' and are charged to the profit and loss account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the balance sheet within 'Members' other interests'.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	Furniture & Fixtures - 33% Straight Line
Computer Equipment	-	33% straight line

Furniture & Fixtures -33% Straight Line

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 LLP are assigned to those units.

4.	Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	1,570	1,380	2,950
Additions	–	3,182	3,182
	-------	-------	-------
At 31 March 2025	1,570	4,562	6,132
	-------	-------	-------
Depreciation
At 1 April 2024	–	454	454
Charge for the year	698	1,672	2,370
	-------	-------	-------
At 31 March 2025	698	2,126	2,824
	-------	-------	-------
Carrying amount
At 31 March 2025	872	2,436	3,308
	-------	-------	-------
At 31 March 2024	1,570	926	2,496
	-------	-------	-------

5.	Debtors

	2025	2024
	£	£
Trade debtors	12,710	12,204
Other debtors	20,038	16,807
	--------	--------
	32,748	29,011
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	5,959
Trade creditors	695	2,401
Other creditors	3,000	–
	-------	-------
	3,695	8,360
	-------	-------

7.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	54,831	11,002
	--------	--------