REGISTERED NUMBER:
OC442115
|
MGE Capital Management LLP |
|
|
Unaudited Financial Statements for the Year Ended |
|
|
MGE Capital Management LLP |
|
31 March 2026
Fixed assets
|
Tangible assets |
4 |
– |
3,308 |
|
|
|
|
Current assets
|
Debtors |
5 |
79,601 |
32,748 |
|
Cash at bank and in hand |
185 |
37,470 |
|
-------- |
-------- |
|
79,786 |
70,218 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
– |
3,695 |
|
-------- |
-------- |
|
Net current assets |
79,786 |
66,523 |
|
-------- |
-------- |
|
Total assets less current liabilities |
79,786 |
69,831 |
|
-------- |
-------- |
|
Net assets |
79,786 |
69,831 |
|
-------- |
-------- |
|
|
|
|
Represented by:
Loans and other debts due to members
|
Other amounts |
7 |
64,786 |
54,831 |
|
|
|
|
Members' other interests
|
Members' capital classified as equity |
15,000 |
15,000 |
|
Other reserves |
– |
– |
|
-------- |
-------- |
|
79,786 |
69,831 |
|
-------- |
-------- |
|
|
|
Total members' interests
|
Amounts due from members |
(79,182) |
(13,981) |
|
Loans and other debts due to members |
7 |
64,786 |
54,831 |
|
Members' other interests |
15,000 |
15,000 |
|
-------- |
-------- |
|
604 |
55,850 |
|
-------- |
-------- |
|
|
|
|
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 2026 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 2026
These financial statements were approved by the
members
and authorised for issue on
30 April 2026
, and are signed on their behalf by:
|
Mr Oliver Mihaljevic |
|
Designated Member |
|
Registered number:
OC442115
|
MGE Capital Management LLP |
|
|
Notes to the Financial Statements |
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Year ended 31 March 2026
The limited liability partnership ceased trading on 1 July 2025. The registered office of the LLP is 1 Duke Of York Square, 6 Queripel House, London, SW3 4LY, United Kingdom The principal activity of the LLP prior to cessation was to provide investment advisory services.
|
2. |
Statement of compliance |
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|
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).
Basis of preparation
The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A. The LLP traded during the period from 1 April 2025 until cessation 1 July 2025. Following cessation, the LLP has undertaken no trading and has been engaged solely in winding down its affairs. The members intend to apply to have the LLP struck off the register. Accordingly, the financial statements have not been prepared on a going concern basis. Assets are stated at their recoverable amounts and liabilities at the amounts expected to be settled.
Intention to strike off
The members intend to apply for voluntary strike-off of the LLP under section 1003 of the Companies Act 2006.
The LLP will be dissolved following completion of the statutory process, subject to no objections being received.
Going concern
The LLP ceased all trading activities on 1 July 2025. Accordingly, the financial statements have not been prepared on a going concern basis. From that date to 31 March 2026, the LLP has undertaken no trading and has been engaged solely in winding down its affairs.
Members’ interests
Members’ capital and current accounts have been settled prior to approval of these financial statements, or appropriate provision has been made where balances remain outstanding.
Taxation policy
VAT is accounted for in accordance with applicable regulations. At the reporting date, a VAT receivable of £419 is included within debtors.
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. Turnover represents amounts receivable for services provided in the normal course of business and relates entirely to trading activity prior to cessation on 1 July 2025. No trading has taken place after that date.
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 |
|
|
|
|
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.
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 April 2025 and 31 March 2026 |
1,570 |
4,562 |
6,132 |
|
------- |
------- |
------- |
|
Depreciation |
|
|
|
|
At 1 April 2025 |
698 |
2,126 |
2,824 |
|
Charge for the year |
872 |
2,436 |
3,308 |
|
------- |
------- |
------- |
|
At 31 March 2026 |
1,570 |
4,562 |
6,132 |
|
------- |
------- |
------- |
|
Carrying amount |
|
|
|
|
At 31 March 2026 |
– |
– |
– |
|
------- |
------- |
------- |
|
At 31 March 2025 |
872 |
2,436 |
3,308 |
|
------- |
------- |
------- |
|
|
|
|
|
2026 |
2025 |
|
£ |
£ |
|
Trade debtors |
– |
12,710 |
|
Amounts due from members |
79,182 |
13,981 |
|
Other debtors |
419 |
6,057 |
|
-------- |
-------- |
|
79,601 |
32,748 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Trade creditors |
– |
695 |
|
Other creditors |
– |
3,000 |
|
---- |
------- |
|
– |
3,695 |
|
---- |
------- |
|
|
|
|
7. |
Loans and other debts due to members |
|
|
|
2026 |
2025 |
|
£ |
£ |
|
Amounts owed to members in respect of profits |
64,786 |
54,831 |
|
-------- |
-------- |
|
|
|