MGSG Properties Limited - Dormant accounts - members and to registrar (filleted) 21.1
MGSG Properties Limited - Dormant accounts - members and to registrar (filleted) 21.1
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 12 February 2020 to 28 February 2021 |
for |
MGSG Properties Limited |
MGSG Properties Limited (Registered number: 12459412) |
Contents of the Financial Statements |
for the Period 12 February 2020 to 28 February 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MGSG Properties Limited |
Company Information |
for the Period 12 February 2020 to 28 February 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MGSG Properties Limited (Registered number: 12459412) |
Balance Sheet |
28 February 2021 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MGSG Properties Limited (Registered number: 12459412) |
Notes to the Financial Statements |
for the Period 12 February 2020 to 28 February 2021 |
1. | STATUTORY INFORMATION |
MGSG Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
MGSG Properties Limited (Registered number: 12459412) |
Notes to the Financial Statements - continued |
for the Period 12 February 2020 to 28 February 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company |
becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with |
the net amounts presented in the financial statements , when there is a legally enforceable right to set off the |
recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the |
liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at |
transaction price including transaction costs and are subsequently carried at amortised cost using the |
effective interest method unless the arrangement constitutes a financing transaction, where the transaction |
is measured at the present value of the future receipts discounted at a market rate of interest. Financial |
assets classified as receivable within one year are not amortised. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or |
are settled, or when the company transfers the financial asset and substantially all the risks and rewards of |
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of |
the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third |
party. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and |
preference shares that are classified as debt, are initially recognised at transaction price unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within |
one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at |
transaction price and subsequently measured at amortised cost using the effective interest method. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or |
cancelled. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
MGSG Properties Limited (Registered number: 12459412) |
Notes to the Financial Statements - continued |
for the Period 12 February 2020 to 28 February 2021 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 100 |