MGG Property Solutions Ltd - Filleted accounts

Registered number

12749360

MGG Property Solutions Ltd

Filleted Accounts for the year ended

31 July 2025

MGG Property Solutions Ltd
Registered number:		12749360
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		209,261			209,261

Current assets
Cash at bank and in hand		2,944			718

Creditors: amounts falling due within one year	4	(62,567)			(64,786)

Net current liabilities			(59,623)			(64,068)

Total assets less current liabilities			149,638			145,193

Creditors: amounts falling due after more than one year	5		(141,450)			(141,450)



Net assets			8,188			3,743

Capital and reserves
Called up share capital			1			1
Profit and loss account			8,187			3,742

Shareholder's funds			8,188			3,743

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M G Georgiou
Director
Approved by the board on 28 April 2026

MGG Property Solutions Ltd
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is made up of rents receivable on property investments.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Investment property	NIL
	Investment properties are valued each year at fair value in accordance with FRS102.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		1		1


3	Tangible fixed assets
					Investment property
£
	Cost
	At 1 August 2024				209,261
	At 31 July 2025				209,261

	Depreciation
	At 31 July 2025				-

	Net book value/Fair value
	At 31 July 2025				209,261
	At 31 July 2024				209,261
	Investment properties were valued on a fair value basis on 31 July 2025 by the director M G Georgiou. It was considered the fair value was the same as the original cost.

4	Creditors: amounts falling due within one year		2025		2024
£				£

	Trade creditors		1,434		2,167
	Taxation and social security costs		1,043		224
	Deferred income		1,300		1,300
	Director's loan		58,036		60,341
	Other creditors		754		754
			62,567		64,786


5	Creditors: amounts falling due after one year		2025		2024
£				£

	Bank loans		141,450		141,450


6	Loans		2025		2024
£				£
	Creditors include:

	Secured bank loans		141,450		141,450

	There is a fixed charge over the investment property of the company. The amount secured is £141,450 and is an interest only mortgage over a term of 25 years from 27 November 2020.


7	Transactions with the director

	As at 31 July 2025, the director had loaned the company a total of £58,036 (2024: £60,341), which is included within creditors. The loan is unsecured, interest free, and has no fixed repayment date.


8	Controlling party

	The ultimate controlling party is the director and 100% shareholder M G Georgiou.


9	Other information

	MGG Property Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	71-75 Shelton Street
	London
	WC2H 9JQ