MMG Property Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01179415 (England and Wales)

MMG PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Gill

SECRETARY:

Mrs M E D Gill

REGISTERED OFFICE:

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

REGISTERED NUMBER:

01179415 (England and Wales)

ACCOUNTANTS:

Sheards

Chartered Accountants

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Investments

4

2,681

2,681

CURRENT ASSETS

Cash at bank

38

38

CREDITORS

Amounts falling due within one year

5

(124,201

)

(123,457

)

NET CURRENT LIABILITIES

(124,163

)

(123,419

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(121,482

)

(120,738

)

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Capital redemption reserve

5,000

5,000

Retained earnings

(146,482

)

(145,738

)

SHAREHOLDERS' FUNDS

(121,482

)

(120,738

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20 January 2023 and were signed by:

Mr M Gill - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 May 2021

and 30 April 2022

168,586

1,585

170,171

PROVISIONS

At 1 May 2021

and 30 April 2022

167,490

-

167,490

NET BOOK VALUE

At 30 April 2022

1,096

1,585

2,681

At 30 April 2021

1,096

1,585

2,681

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

104,970

105,642

Other creditors

19,231

17,815

124,201

123,457

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Loans owing to the directors on an interest free basis of £17,814 (2021 £16,470) were outstanding at the year end.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Gill.