Company Registration No. 14268935 (England and Wales)
Mgsg Enterprise Ltd
Unaudited accounts
for the year ended 31 August 2025
Mgsg Enterprise Ltd
Unaudited accounts
Contents
Mgsg Enterprise Ltd
Company Information
for the year ended 31 August 2025
Director
Mikael Gabre Griffiths
Company Number
14268935 (England and Wales)
Registered Office
124 City Road
London
EC1V 2NX
England
Accountants
The Accountants & Management Consultants Ltd
6 Frome Drive
Crumpsall
Manchester
M8 0GA
Mgsg Enterprise Ltd
Statement of financial position
as at 31 August 2025
Investment property
514,619
268,735
Cash at bank and in hand
2,255
61,546
Creditors: amounts falling due within one year
(604,479)
(360,361)
Net current liabilities
(569,761)
(279,268)
Net liabilities
(55,142)
(10,533)
Called up share capital
100
100
Profit and loss account
(55,242)
(10,633)
Shareholders' funds
(55,142)
(10,533)
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 May 2026 and were signed on its behalf by
Mikael Gabre Griffiths
Director
Company Registration No. 14268935
Mgsg Enterprise Ltd
Notes to the Accounts
for the year ended 31 August 2025
Mgsg Enterprise Ltd is a private company, limited by shares, registered in England and Wales, registration number 14268935. The registered office is 124 City Road, London, EC1V 2NX, England.
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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect all timing differences that have originated but not reversed at the balance sheet.
Timing differences arise from the inclusion of income and expenses in tax assessments in period different from those in which they are recognised in financial statements. Deferred is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recongised only to the extent that it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Mgsg Enterprise Ltd
Notes to the Accounts
for the year ended 31 August 2025
The company's financial statements for the year ended 31 August 2025 have been prepared on a going concern basis as after making appropriate enquiries the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Fair value at 1 September 2024
268,735
The director does not consider the market value of investment property to be materially different from the value stated in the financial statements as at 31 August 2025.
Amounts falling due within one year
Other debtors
32,463
19,499
5
Creditors: amounts falling due within one year
2025
2024
Other creditors
604,479
360,361
Included within creditors are secured loans amounting to £331,700 (2024: £161,000).
These loans are secured by way of a fixed and floating charge over the company's assets
6
Transactions with related parties
Included within directors' loan account is a balance of £271,986 (2024: £198,701). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.
7
Average number of employees
During the year the average number of employees was 1 (2024: 1).