MGPS Property Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05915839 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

MGPS Property Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Govindasamy

P Stollery

REGISTERED OFFICE:

Best Western Brook Hotel

2 Barnard Road

Bowthorpe

Norwich

NR5 9JB

REGISTERED NUMBER:

05915839 (England and Wales)

ACCOUNTANTS:

K Shah & Co

Chartered Certified Accountants

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

FIXED ASSETS

Investment property

2

1,082,035

1,082,035

CURRENT ASSETS

Debtors

318

1,213

Cash at bank

7,244

2,410

7,562

3,623

CREDITORS

Amounts falling due within one year

196,839

233,868

NET CURRENT LIABILITIES

(189,277

)

(230,245

)

TOTAL ASSETS LESS CURRENT LIABILITIES

892,758

851,790

CREDITORS

Amounts falling due after more than one year

851,817

851,817

NET ASSETS/(LIABILITIES)

40,941

(27

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

40,841

(127

)

SHAREHOLDERS' FUNDS

40,941

(27

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 May 2016 and were signed on its behalf by:

P Stollery - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents rents received in the year, net of VAT.

Investment property

Investments properties are included in the balance sheet at open market value. Depreciation is not provided in

respect of freehold investment properties, or in respect of leasehold investment properties where the unexpired

term of the lease is more than 20 years. The Directors consider that this accounting policy, which represents a

departure from the statutory accounting rules, is necessary to provide a true and fair view as required under

SSAP 19 ''Accounting for investment properties''. The financial effect of the departure from the statutory

accounting rules is not material.

Taxation

Current tax is provided at amounts expected to be paid or recovered using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

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

sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 September 2014

and 31 August 2015

1,082,035

NET BOOK VALUE

At 31 August 2015

1,082,035

At 31 August 2014

1,082,035

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

£

100

Ordinary shares

1

100

100

4.	RELATED PARTY DISCLOSURES