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REGISTERED NUMBER: 10278739 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

MDGS PROPERTIES LIMITED

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MDGS PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr Mehmet Merel
Mr Dogan Merel
Mr Gokhan Merel





REGISTERED OFFICE: 293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 10278739 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Balance Sheet
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 911,515 912,434

CURRENT ASSETS
Debtors 5 6,000 -
Cash at bank 39,190 22,200
45,190 22,200
CREDITORS
Amounts falling due within one year 6 318,497 308,318
NET CURRENT LIABILITIES (273,307 ) (286,118 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

638,208

626,316

CREDITORS
Amounts falling due after more than one
year

7

402,329

443,219
NET ASSETS 235,879 183,097

CAPITAL AND RESERVES
Called up share capital 999 999
Retained earnings 234,880 182,098
SHAREHOLDERS' FUNDS 235,879 183,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Balance Sheet - continued
31 JULY 2023


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 Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Mr Dogan Merel - Director


MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

MDGS 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 August 2022
and 31 July 2023 917,948
DEPRECIATION
At 1 August 2022 5,514
Charge for year 919
At 31 July 2023 6,433
NET BOOK VALUE
At 31 July 2023 911,515
At 31 July 2022 912,434

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 6,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 41,138 39,821
Taxation and social security 17,544 12,682
Other creditors 259,815 255,815
318,497 308,318

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 353,449 394,339
Other creditors 48,880 48,880
402,329 443,219

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans more than 5 years 126,138 174,308

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 394,587 434,160