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REGISTERED NUMBER: 04803574 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FIRST HOUSING (MGM) LTD

FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST HOUSING (MGM) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr G Georgallis
Mr D Demosthenous





SECRETARY: Mr D Demosthenous





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 04803574 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,017 40,938

CURRENT ASSETS
Debtors 5 222,426 226,482
Cash at bank and in hand 458,976 423,981
681,402 650,463
CREDITORS
Amounts falling due within one year 6 696,222 654,943
NET CURRENT LIABILITIES (14,820 ) (4,480 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,197

36,458

CREDITORS
Amounts falling due after more than one
year

7

25,913

33,189
NET (LIABILITIES)/ASSETS (11,716 ) 3,269

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (11,816 ) 3,169
SHAREHOLDERS' FUNDS (11,716 ) 3,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mr D Demosthenous - Director


FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

First Housing (MGM) 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.

Turnover
Turnover represents amounts derived from the provision of services to landlords and customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts 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.
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 3 (2023 - 3 ) .

FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 68,009 991 69,000
Disposals (11,400 ) - (11,400 )
At 30 June 2024 56,609 991 57,600
DEPRECIATION
At 1 July 2023 27,110 952 28,062
Charge for year 7,246 6 7,252
Eliminated on disposal (6,731 ) - (6,731 )
At 30 June 2024 27,625 958 28,583
NET BOOK VALUE
At 30 June 2024 28,984 33 29,017
At 30 June 2023 40,899 39 40,938

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 189,525 207,994
Other debtors 32,901 13,449
Tax - 5,039
222,426 226,482

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 7,276 7,276
Trade creditors 375,085 414,226
Social security and other taxes 5,216 2,938
Deposit account 227,229 225,463
Directors' current accounts 76,136 -
Accrued expenses 5,280 5,040
696,222 654,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 25,913 33,189

FIRST HOUSING (MGM) LTD (REGISTERED NUMBER: 04803574)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100