Caseware UK (AP4) 2025.0.111 2025.0.111 2024-11-30 2024-11-30 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-12-01 false The principal activity of the company continued to be that of property investment 2 2 false true false 11057568 2023-12-01 2024-11-30 11057568 2022-12-01 2023-11-30 11057568 2024-11-30 11057568 2023-11-30 11057568 c:Director2 2023-12-01 2024-11-30 11057568 d:PlantMachinery 2023-12-01 2024-11-30 11057568 d:PlantMachinery 2024-11-30 11057568 d:PlantMachinery 2023-11-30 11057568 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11057568 d:MotorVehicles 2023-12-01 2024-11-30 11057568 d:MotorVehicles 2024-11-30 11057568 d:MotorVehicles 2023-11-30 11057568 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11057568 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11057568 d:FreeholdInvestmentProperty 2023-12-01 2024-11-30 11057568 d:FreeholdInvestmentProperty 2024-11-30 11057568 d:FreeholdInvestmentProperty 2023-11-30 11057568 d:FreeholdInvestmentProperty 2 2023-12-01 2024-11-30 11057568 d:CurrentFinancialInstruments 2024-11-30 11057568 d:CurrentFinancialInstruments 2023-11-30 11057568 d:Non-currentFinancialInstruments 2024-11-30 11057568 d:Non-currentFinancialInstruments 2023-11-30 11057568 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 11057568 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11057568 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 11057568 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 11057568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 11057568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 11057568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 11057568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 11057568 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-11-30 11057568 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 11057568 d:ShareCapital 2024-11-30 11057568 d:ShareCapital 2023-11-30 11057568 d:SharePremium 2024-11-30 11057568 d:SharePremium 2023-11-30 11057568 d:RevaluationReserve 2024-11-30 11057568 d:RevaluationReserve 2023-11-30 11057568 d:RetainedEarningsAccumulatedLosses 2024-11-30 11057568 d:RetainedEarningsAccumulatedLosses 2023-11-30 11057568 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 11057568 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 11057568 c:OrdinaryShareClass1 2023-12-01 2024-11-30 11057568 c:OrdinaryShareClass1 2024-11-30 11057568 c:FRS102 2023-12-01 2024-11-30 11057568 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 11057568 c:FullAccounts 2023-12-01 2024-11-30 11057568 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11057568 f:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11057568 MG PROPERTIES (BRISTOL) LIMITED UNAUDITED INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 NOVEMBER 2024
MG PROPERTIES (BRISTOL) LIMITED CONTENTS
| Page
Balance sheet | 1 - 2
Notes to the financial statements | 3 - 9
MG PROPERTIES (BRISTOL) LIMITED REGISTERED NUMBER: 11057568 BALANCE SHEET AS AT 30 NOVEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 24,043 |  | 27,645
Investment property | 5 |  | 17,800,855 |  | 17,375,855
|  |  | 17,824,898 |  | 17,403,500
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 86,155 |  | 487,273 |
Cash at bank and in hand | 7 | 407,802 |  | 31,980 |
|  | 493,957 |  | 519,253 |
Creditors: amounts falling due within one year | 8 | (2,290,305) |  | (501,409) |
Net current (liabilities)/assets |  |  | (1,796,348) |  | 17,844
Total assets less current liabilities |  |  | 16,028,550 |  | 17,421,344
Creditors: amounts falling due after more than one year | 9 |  | (3,760,001) |  | (6,486,924)
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (216,819) |  | - |
|  |  | (216,819) |  | -
Net assets |  |  | 12,051,730 |  | 10,934,420
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 1,000,000 |  | 1,000,000
Share premium account |  |  | 10,492,674 |  | 10,492,674
Non-distributable profit and loss account reserve |  |  | 1,673,214 |  | -
Profit and loss account |  |  | (1,114,158) |  | (558,254)
|  |  | 12,051,730 |  | 10,934,420
1
MG PROPERTIES (BRISTOL) LIMITED REGISTERED NUMBER: 11057568 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2024 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ M G Walters
Director
Date: 10 July 2026
The notes on pages 3 to 9 form part of these financial statements. 2
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
1. | General information
MG Properties (Bristol) Limited is a private company, limited by shares, registered in England and Wales, registration number 11057568. Subsequent to the year end, the company changed its registered office address from Woodlands Grange, Woodlands Lane, Bradley Stoke, Bristol, BS32 4JY to Creech Hill Farm, Creech Hill Lane, Bruton, Somerset, BA10 0QH. The principal activity of the company continued to be that of property investment. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The company's functional and presentational currency is pound sterling. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover represents amounts receivable for the rental of investment property and is recognised to the extent that it is probable that the economic benefits will flow to the company. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. 3
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 2.Accounting policies (continued)
| 2.4 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% |
|  |  |  | Motor vehicles | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 4
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 2.Accounting policies (continued)
| 2.6 | Investment property
Investment property is carried at fair value determined annually by external valuers or directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
5
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 December 2023 | 43,825 | - | 43,825
| Additions | - | 2,500 | 2,500
| At 30 November 2024 | 43,825 | 2,500 | 46,325
| Depreciation |  |  |
| At 1 December 2023 | 16,180 | - | 16,180
| Charge for the year on owned assets | 5,529 | 573 | 6,102
| At 30 November 2024 | 21,709 | 573 | 22,282
| Net book value |  |  |
| At 30 November 2024 | 22,116 | 1,927 | 24,043
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 December 2023 | 17,375,855
| Disposals | (960,000)
| Surplus on revaluation | 1,385,000
| At 30 November 2024 | 17,800,855
The 2024 valuations were made by the directors, on an open market value basis.
| If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Historic cost | 15,914,942 | 16,874,942
6
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 59,877 | 38,742
| Other debtors | 26,278 | 448,531
|  | 86,155 | 487,273
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 407,802 | 31,980
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 2,195,398 | 66,177
| Trade creditors | 13,820 | 1,218
| Corporation tax | - | 102,774
| Other taxation and social security | 1,786 | 7,400
| Other creditors | 52,994 | 290,548
| Accruals and deferred income | 26,307 | 33,292
|  | 2,290,305 | 501,409
| The bank loan is secured by a fixed and floating charges over the investment properties of the company.
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 3,760,001 | 6,486,924
| The bank loan is secured by a fixed and floating charges over the investment properties of the company.
7
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 2,195,398 | 66,177
| Amounts falling due 1-2 years |  |
| Bank loans | 2,865,263 | 66,177
| Amounts falling due 2-5 years |  |
| Bank loans | 148,705 | 5,668,399
| Amounts falling due after more than 5 years |  |
| Bank loans | 746,033 | 752,348
|  | 5,955,399 | 6,553,101
11. | Deferred taxation
|  | 2024
|  | £
| Charged to profit or loss | (216,819)
| At end of year | (216,819)
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Capital gains timing differences | (216,819) | -
12. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000,000 Ordinary shares of £1.00 each | 1,000,000 | 1,000,000
8
MG PROPERTIES (BRISTOL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
13. | Related party transactions
| Included in other creditors at the year end is £52,994 (2023 - £304,517 debtor) due to the directors. The loans are interest free and repayable on demand.
9