CMG UK Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10242846 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2022

FOR

CMG UK PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P T Adams

REGISTERED OFFICE:

92 Station Lane

Hornchurch

Essex

RM12 6LX

BUSINESS ADDRESS:

Tanglewood

Thorndon Approach

Herongate

Brentwood

Essex

CM13 3PA

REGISTERED NUMBER:

10242846 (England and Wales)

ACCOUNTANTS:

S.D. Garner + Co Limited

Chartered Certified Accountants

92 Station Lane

Hornchurch

Essex

RM12 6LX

FIXED ASSETS

Tangible assets

4

2,652

4,438

Investment property

5

6,784,463

4,946,140

6,787,115

4,950,578

CURRENT ASSETS

Debtors

6

7,028

861

Cash at bank

5,557,045

4,410,185

5,564,073

4,411,046

CREDITORS

Amounts falling due within one year

7

834,099

444,056

NET CURRENT ASSETS

4,729,974

3,966,990

TOTAL ASSETS LESS CURRENT LIABILITIES

11,517,089

8,917,568

PROVISIONS FOR LIABILITIES

504

552

NET ASSETS

11,516,585

8,917,016

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

11,516,584

8,917,015

11,516,585

8,917,016

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 29th March 2023 and were signed by:

Mr P T Adams - Director

1.	STATUTORY INFORMATION

CMG UK Properties 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st July 2021

29,606

Additions

649

At 30th June 2022

30,255

DEPRECIATION

At 1st July 2021

25,168

Charge for year

2,435

At 30th June 2022

27,603

NET BOOK VALUE

At 30th June 2022

2,652

At 30th June 2021

4,438

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st July 2021

4,946,140

Additions

1,838,323

At 30th June 2022

6,784,463

NET BOOK VALUE

At 30th June 2022

6,784,463

At 30th June 2021

4,946,140

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Accruals

-

370

Prepayments

7,028

491

7,028

861

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Corporation tax

610,200

252,577

Other creditors

3,713

3,541

Directors' current accounts

220,186

187,938

834,099

444,056

8.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had financial commitments of £545,001.15 in respect of the acquisition of investment properties.

M Developments Ltd hold charges on unit 4-04 and unit 4-14 Adelphi Wharf, Phase 3 Adelphi Street, Salford.