ACCOUNTS - Final Accounts preparation

Registered number: 14270791

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 DECEMBER 2025

	MGH1 LTD


MGH1 LTD

COMPANY INFORMATION

Director	M McElduff


Registered number	14270791


Registered office	Cheeca Lodge
	Flower Lane
	Godstone
	England
	RH9 8DE


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Origin One
	108 High Street
	Crawley
	RH10 1BD


MGH1 LTD

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 4


MGH1 LTD REGISTERED NUMBER:14270791

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Stocks	4	13,846,071		10,671,314
Debtors: amounts falling due within one year	5	179		6,008
Cash at bank and in hand		-		896
		13,846,250		10,678,218
Creditors: amounts falling due within one year	6	(13,856,334)		(24,481)
Net current (liabilities)/assets			(10,084)		10,653,737
Total assets less current liabilities			(10,084)		10,653,737
Creditors: amounts falling due after more than one year	7		-		(10,659,900)

Net liabilities			(10,084)		(6,163)

Capital and reserves
Allotted, called up and fully paid share capital	100	100
Profit and loss account	(10,184)	(6,263)
	(10,084)	(6,163)

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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MGH1 LTD REGISTERED NUMBER:14270791

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M McElduff

Director

Date: 23 September 2026

The notes on pages 3 to 4 form part of these financial statements.

Page 2


MGH1 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

MGH1 Ltd is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found on the Company information page.

The Company's accounting period was extended to a 16-month period ending 31 December 2025. Therefore, the periods are not directly comparable.

The significant accounting policies applied in the preparation of these financial statements are set out below.

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 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 following principal accounting policies have been applied:

2.2

Going concern

As at 31 December 2025 the Company had net liabilities of £10,084 (year ended 31 August 2024 - £6,163). During the period the Company had a property development in progress and the director believes that the going concern basis is appropriate. The company is funded by the group and will continue to be until the property development is complete and property sold.

2.3

Stocks

Work in progress is valued on the basis of direct costs incurred. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of the work in progress.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including the director, during the period was 1 (year ended 31 August 2024 - 1).

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MGH1 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

4.	Stocks
		2025	2024
		£	£

Work in progress	13,846,071	10,671,314
	13,846,071	10,671,314

Debtors

					2025	2024
					£	£


Other debtors	179	6,008
	179	6,008

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	67	-
Bank loans	11,246,718	-
Other loans	2,600,000	-
Trade creditors	474	-
Amounts owed to group undertakings	6,000	18,481
Accruals and deferred income	3,075	6,000
	13,856,334	24,481

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	-	10,659,900
	-	10,659,900

Paragon Development Finance Limited holds a fixed and floating charge over MGH1 Ltd, which is secured against the assets and undertakings of the Company.

Mark James Noble holds fixed charges and negative pledges over MGH1 Ltd, which is secured against the assets and undertakings of the Company.

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