MGLS INVESTMENTS LIMITED


Director	SCOTT, Barbara


Registered Address	Grove House
	2 Woodberry Grove
	London
	N12 0DR


Registered Number	14878450 (England and Wales)

Balance Sheet as at
31 May 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		275,171		275,171
			275,171		275,171
Current assets
Debtors	4	9,674		1,070
		9,674		1,070
Creditors amounts falling due within one year	5	(279,413)		(277,921)
Net current assets (liabilities)			(269,739)		(276,851)
Total assets less current liabilities			5,432		(1,680)
Net assets			5,432		(1,680)
Capital and reserves
Called up share capital			100		100
Profit and loss account			5,332		(1,780)
Shareholders' funds			5,432		(1,680)

The company was entitled to exemption from audit for this reporting period 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 26 May 2026, and are signed on its behalf by:

SCOTT, Barbara
Director
Registered Company No. 14878450

MGLS INVESTMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 May 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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.

	Revenue from rendering of services
	Revenue 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property (except the investment property), plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property (except the investment property), plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued by the directors using open market valuation on a freehold basis.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Total
	£	£
Cost or valuation
At 01 June 24	275,171	275,171
At 31 May 25	275,171	275,171
Net book value
At 31 May 25	275,171	275,171
At 31 May 24	275,171	275,171


	The investment property was revalued by the directors. The directors are of the view that there was no material difference between the carrying value and the market value of the property on the balance sheet date.

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	9,674	1,070
Total	9,674	1,070

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	1,251	-
Other creditors	276,962	276,901
Accrued liabilities and deferred income	1,200	1,020
Total	279,413	277,921

6.	Related party transactions
	More Convenient Ltd - a related company by virtue of the fact that Barbara Scott controls both companies. During the period, the related company paid £40,101 to the lenders on behalf of the reporting entity. At the balance sheet date, the company owed £172,707 (2024- £132,606) to the related company. The loan is interest free with no fixed date for repayment. Transactions with the director At the balance sheet date the company was owed £9,674 by the director (2024- £1,070). The loan was interest free and repsaid within 9 months after the year end.

Related party transactions

More Convenient Ltd - a related company by virtue of the fact that Barbara Scott controls both companies.
During the period, the related company paid £40,101 to the lenders on behalf of the reporting entity. At the balance sheet date, the company owed £172,707 (2024- £132,606) to the related company. The loan is interest free with no fixed date for repayment.

Transactions with the director
At the balance sheet date the company was owed £9,674 by the director (2024- £1,070). The loan was interest free and repsaid within 9 months after the year end.