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Company Registration No. 11204176 (England and Wales)
MGYD LTD Unaudited accounts for the year ended 29 February 2024
MGYD LTD Unaudited accounts Contents
Page
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MGYD LTD Company Information for the year ended 29 February 2024
Director
Martin Georgiev Yankov
Company Number
11204176 (England and Wales)
Registered Office
55 THE LINGS DONCASTER DN3 3RH UNITED KINGDOM
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MGYD LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,019 
- 
Current assets
Cash at bank and in hand
2,263 
11,365 
Creditors: amounts falling due within one year
(3,656)
3,147 
Net current (liabilities)/assets
(1,393)
14,512 
Total assets less current liabilities
9,626 
14,512 
Creditors: amounts falling due after more than one year
(6,346)
(10,839)
Net assets
3,280 
3,673 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
3,180 
3,573 
Shareholders' funds
3,280 
3,673 
For the year ending 29 February 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2024 and were signed on its behalf by
Martin Georgiev Yankov Director Company Registration No. 11204176
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MGYD LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
MGYD LTD is a private company, limited by shares, registered in England and Wales, registration number 11204176. The registered office is 55 THE LINGS, DONCASTER, DN3 3RH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2023
- 
Additions
13,439 
At 29 February 2024
13,439 
Depreciation
Charge for the year
2,420 
At 29 February 2024
2,420 
Net book value
At 29 February 2024
11,019 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,416 
- 
VAT
3,839 
(1,102)
Obligations under finance leases and hire purchase contracts
1,187 
- 
Taxes and social security
357 
1,194 
Loans from directors
(3,143)
(3,239)
3,656 
(3,147)
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MGYD LTD Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,346 
10,839 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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