IRIS Accounts Production v24.1.0.578 SC686296 director 1.1.23 31.12.23 31.12.23 false true false false false true false ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6862962022-12-31SC6862962023-12-31SC6862962023-01-012023-12-31SC6862962021-12-31SC6862962022-01-012022-12-31SC6862962022-12-31SC686296ns15:Scotland2023-01-012023-12-31SC686296ns14:PoundSterling2023-01-012023-12-31SC686296ns10:Director12023-01-012023-12-31SC686296ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC686296ns10:SmallEntities2023-01-012023-12-31SC686296ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC686296ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC686296ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC686296ns10:FullAccounts2023-01-012023-12-31SC68629612023-01-012023-12-31SC686296ns10:OrdinaryShareClass12023-01-012023-12-31SC686296ns10:RegisteredOffice2023-01-012023-12-31SC686296ns5:CurrentFinancialInstruments2023-12-31SC686296ns5:CurrentFinancialInstruments2022-12-31SC686296ns5:Non-currentFinancialInstruments2023-12-31SC686296ns5:Non-currentFinancialInstruments2022-12-31SC686296ns5:ShareCapital2023-12-31SC686296ns5:ShareCapital2022-12-31SC686296ns5:RetainedEarningsAccumulatedLosses2023-12-31SC686296ns5:RetainedEarningsAccumulatedLosses2022-12-31SC686296ns5:NetGoodwill2023-01-012023-12-31SC686296ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31SC686296ns5:FurnitureFittings2023-01-012023-12-31SC686296ns5:NetGoodwill2022-12-31SC686296ns5:NetGoodwill2023-12-31SC686296ns5:NetGoodwill2022-12-31SC686296ns5:PlantMachinery2023-01-012023-12-31SC686296ns5:PlantMachinery2023-12-31SC686296ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: SC686296 (Scotland)















Unaudited Financial Statements For The Year Ended 31 December 2023

for

MKGC LTD

MKGC LTD (Registered number: SC686296)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MKGC LTD

Company Information
For The Year Ended 31 December 2023







DIRECTOR: Miss M Khan





REGISTERED OFFICE: Unit 3, 795 Govan Road
Govan Cross Shopping Centre
Glasgow
G51 3JW





REGISTERED NUMBER: SC686296 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

MKGC LTD (Registered number: SC686296)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 20,000
Tangible assets 5 70,405 -
90,405 20,000

CURRENT ASSETS
Stocks 2,612 2,110
Debtors 6 12,366 -
Cash at bank and in hand 56,905 91,607
71,883 93,717
CREDITORS
Amounts falling due within one year 7 58,388 62,709
NET CURRENT ASSETS 13,495 31,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,900

51,008

CREDITORS
Amounts falling due after more than one
year

8

53,869

-
NET ASSETS 50,031 51,008

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 50,030 51,007
SHAREHOLDERS' FUNDS 50,031 51,008

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

MKGC LTD (Registered number: SC686296)

Balance Sheet - continued
31 December 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 director and authorised for issue on 19 July 2024 and were signed by:





Miss M Khan - Director


MKGC LTD (Registered number: SC686296)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

MKGC LTD is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

MKGC LTD (Registered number: SC686296)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 20,000
At 31 December 2022 20,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 70,405
At 31 December 2023 70,405
NET BOOK VALUE
At 31 December 2023 70,405

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
VAT 12,366 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 11,248 -
Trade creditors 1,903 2,547
Tax - 12,434
PAYE 2,401 1,137
VAT - 4,311
Directors' loan accounts 39,710 39,157
Accrued expenses 3,126 3,123
58,388 62,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loan 53,869 -

MKGC LTD (Registered number: SC686296)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 ordinary shares 1.00 1 1