REGISTERED NUMBER: SC686296 (Scotland)

Unaudited Financial Statements For The Year Ended 31 December 2024

for

MKGC LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

20,000

20,000

Tangible assets

5

56,324

70,405

76,324

90,405

CURRENT ASSETS

Stocks

1,832

2,612

Debtors

6

-

12,366

Cash at bank

33,861

56,905

35,693

71,883

CREDITORS

Amounts falling due within one year

7

28,220

58,388

NET CURRENT ASSETS

7,473

13,495

TOTAL ASSETS LESS CURRENT LIABILITIES

83,797

103,900

CREDITORS

Amounts falling due after more than one year

8

33,745

53,869

NET ASSETS

50,052

50,031

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

50,051

50,030

SHAREHOLDERS' FUNDS

50,052

50,031

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

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

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 4 September 2025 and were signed by:

Miss M Khan - Director

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

20,000

NET BOOK VALUE

At 31 December 2024

20,000

At 31 December 2023

20,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

70,405

DEPRECIATION

Charge for year

14,081

At 31 December 2024

14,081

NET BOOK VALUE

At 31 December 2024

56,324

At 31 December 2023

70,405

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

VAT

-

12,366

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

11,248

11,248

Trade creditors

1,451

1,903

PAYE

231

2,401

VAT

3,775

-

Directors' loan accounts

1,505

39,710

Accrued expenses

10,010

3,126

28,220

58,388

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loan

33,745

53,869

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

ordinary shares

1.00

1

1