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REGISTERED NUMBER: 09530479 (England and Wales)















Unaudited Financial Statements

for the Period 1 May 2022 to 31 October 2023

for

MGD Technology Ltd

MGD Technology Ltd (Registered number: 09530479)






Contents of the Financial Statements
for the Period 1 May 2022 to 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MGD Technology Ltd

Company Information
for the Period 1 May 2022 to 31 October 2023







DIRECTORS: G W Jones
M Vernet





SECRETARY: M Vernet





REGISTERED OFFICE: 5 Mulgrave Hall
Mulgrave Road
Sutton
Surrey
SM2 6LG





REGISTERED NUMBER: 09530479 (England and Wales)





ACCOUNTANTS: Amherst Accountancy
Room 2
1st Floor
7 Bligh's Walk
Sevenoaks
Kent
TN13 1DB

MGD Technology Ltd (Registered number: 09530479)

Balance Sheet
31 October 2023

31.10.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 130,436 205,648

CURRENT ASSETS
Debtors 5 245,100 150,000
Cash at bank 15,619 70,475
260,719 220,475
CREDITORS
Amounts falling due within one year 6 150,479 97,265
NET CURRENT ASSETS 110,240 123,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,676

328,858

CAPITAL AND RESERVES
Called up share capital 101 101
Revaluation reserve 7 21,241 21,241
Retained earnings 219,334 307,516
240,676 328,858

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

MGD Technology Ltd (Registered number: 09530479)

Balance Sheet - continued
31 October 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 31 July 2024 and were signed on its behalf by:





M Vernet - Director


MGD Technology Ltd (Registered number: 09530479)

Notes to the Financial Statements
for the Period 1 May 2022 to 31 October 2023

1. STATUTORY INFORMATION

MGD Technology Ltd 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 as modified by the revaluation of certain assets.

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

Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

MGD Technology Ltd (Registered number: 09530479)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 31 October 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2022 205,648
Disposals (75,212 )
At 31 October 2023 130,436
NET BOOK VALUE
At 31 October 2023 130,436
At 30 April 2022 205,648

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2021 15,486
Valuation in 2022 190,162
Valuation in 2023 (75,212 )
130,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 30.4.22
£    £   
Trade debtors - 150,000
Other debtors 245,100 -
245,100 150,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 30.4.22
£    £   
Taxation and social security 149,399 96,725
Other creditors 1,080 540
150,479 97,265

7. RESERVES
Revaluation
reserve
£   
At 1 May 2022
and 31 October 2023 21,241

MGD Technology Ltd (Registered number: 09530479)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 31 October 2023

8. RELATED PARTY DISCLOSURES

At the balance sheet date M Vernet, a director of the company, owed £245,000 (2022: £ nil) to the company. Interest is charged at the HMRC official rate and the loan was repaid in July 2024.