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Registered number: 13110121
MG Property Leases Ltd
Unaudited Financial Statements
For The Year Ended 30 January 2026
MSB Basildon
Suite 74, Jupiter Bus.Centre
Paycocke Road
Basildon
Essex
SS14 3HX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 13110121
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 278,770 278,770
278,770 278,770
CURRENT ASSETS
Cash at bank and in hand 2,926 1,904
2,926 1,904
Creditors: Amounts Falling Due Within One Year 5 (3,677 ) (3,583 )
NET CURRENT ASSETS (LIABILITIES) (751 ) (1,679 )
TOTAL ASSETS LESS CURRENT LIABILITIES 278,019 277,091
Creditors: Amounts Falling Due After More Than One Year 6 (296,714 ) (295,014 )
NET LIABILITIES (18,695 ) (17,923 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Income Statement (18,696 ) (17,924 )
SHAREHOLDERS' FUNDS (18,695) (17,923)
Page 1
Page 2
For the year ending 30 January 2026 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Shane Mills
Director
30/09/2026
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MG Property Leases Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13110121 . The registered office is Suite 74, Jupiter Business Centre, Paycocke Road, Basildon, Essex, SS14 3HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Lease Premiums purchased on 1625a & 1625b London Road, Leigh-on-Sea. They are amortised to the income statement over its estimated economic life of 999 years.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2025: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 31 January 2025 279,362
As at 30 January 2026 279,362
Amortisation
As at 31 January 2025 592
As at 30 January 2026 592
Net Book Value
As at 30 January 2026 278,770
As at 31 January 2025 278,770
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Page 4
5. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Accruals and deferred income 1,188 594
Directors' loan accounts 2,489 2,989
3,677 3,583
6. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
1625b London Road - Quantum Mortgages 89,700 89,700
1625a London Road - LendInvest Mortgage 130,560 130,560
MG Property Rentals Ltd - Intercompany Loan Account 76,454 74,754
296,714 295,014
7. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
Intercompany loans for the period were as follows:
Amount owed by MG Property Leases to MG Property Rentals £76,454
9. Ultimate Controlling Party
The company's ultimate controlling party is MG Property Rentals Ltd by virtue of ownership of 100% of the issued share capital in the company.
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