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REGISTERED NUMBER: 10278739 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

MDGS PROPERTIES LIMITED

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MDGS PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







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 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 910,596 911,515

CURRENT ASSETS
Debtors 5 38,000 6,000
Cash at bank 18,577 39,190
56,577 45,190
CREDITORS
Amounts falling due within one year 6 317,330 318,497
NET CURRENT LIABILITIES (260,753 ) (273,307 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,843

638,208

CREDITORS
Amounts falling due after more than one
year

7

362,813

402,329
NET ASSETS 287,030 235,879

CAPITAL AND RESERVES
Called up share capital 999 999
Retained earnings 286,031 234,880
SHAREHOLDERS' FUNDS 287,030 235,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 2024


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 15 January 2025 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 2024


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 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 August 2023
and 31 July 2024 917,948
DEPRECIATION
At 1 August 2023 6,433
Charge for year 919
At 31 July 2024 7,352
NET BOOK VALUE
At 31 July 2024 910,596
At 31 July 2023 911,515

MDGS PROPERTIES LIMITED (REGISTERED NUMBER: 10278739)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors - 6,000
Other debtors 38,000 -
38,000 6,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 42,516 41,138
Taxation and social security 17,999 17,544
Other creditors 256,815 259,815
317,330 318,497

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 310,933 353,449
Other creditors 51,880 48,880
362,813 402,329

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 76,006 126,138

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 353,449 394,587