Mgmt Infrastructure Ltd
Mgmt Infrastructure Ltd
Registered number: 12525686
Unaudited ABRIDGED Financial Statements
For The Year Ended
31 December 2023
Mgmt Infrastructure Ltd
Unaudited Financial Statements
For The Year Ended
31 December 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Page 1
Mgmt Infrastructure Ltd
Abridged Balance Sheet
As At
31 December 2023
Abridged Balance Sheet
Registered number:
12525686
For the year ending 31 December 2023 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 4 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year |
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| NET LIABILITIES |
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( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (8,189,729) | (49,747) | |||
Page 1
Page 2
Mgmt Infrastructure Ltd
Abridged Balance Sheet (continued)
As At
31 December 2023
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Mgmt Infrastructure Ltd
Notes to the Abridged Financial Statements
For The Year Ended
31 December 2023
Notes to the Abridged Financial Statements
1.
General Information
Mgmt Infrastructure Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
12525686
. The registered office is Westminster House, 10 Westminster Road, Macclesfield, Cheshire, SK10 1BX.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3.
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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was:
| 2023 | 2022 | ||
|---|---|---|---|
| Directors and company officers |
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4.
Investments
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
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| Disposals |
( |
| Revaluations |
( |
| As at
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| Provision | |
| As at
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- |
| As at
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- |
| Net Book Value | |
| As at
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| As at
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The reduction of £49,999 relates to the return of share capital (at nominal value) of a subsidiary, MGMT Dormant Limited. An application to strike the company off was made in January 2024.
5.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
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Page 3
Page 4
Mgmt Infrastructure Ltd
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 December 2023
6.
Related Party Transactions
Included within Creditors: Amounts falling due after more than one year, is an amount of £8,983,194 that is owed to Mr Henry Daniel Sykes, the ultimate shareholder of the group. The loan is repayable on demand and bears interest at a rate of 7.34%. Loan interest of £721,710 was expensed during the period and, at the year end, £1,035 remained owed to Mr Sykes in addition to the above loan balance.
7.
Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is
Lightspeed Fibre International Holdings SA
. Its registered office address is 16 Rue Jean L'Aveugle, L-1148, Luxembourg.
Page 4