MGD Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC561414 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

MGD Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G P Dawson

M J W Gentles

REGISTERED OFFICE:

12 Abbey Street

St Andrews

KY16 9LA

REGISTERED NUMBER:

SC561414 (Scotland)

ACCOUNTANTS:

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

FIXED ASSETS

Tangible assets

5

1,206,119

1,239,996

Investments

6

100

1,206,219

1,240,096

CURRENT ASSETS

Debtors

7

810,841

812,993

Cash at bank

92,663

50,544

903,504

863,537

CREDITORS

Amounts falling due within one year

8

1,463,702

1,467,716

NET CURRENT LIABILITIES

(560,198

)

(604,179

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

646,021

635,917

CREDITORS

Amounts falling due after more than one
year

9

(633,584

)

(636,080

)

PROVISIONS FOR LIABILITIES

(3,942

)

(2,358

)

NET ASSETS/(LIABILITIES)

8,495

(2,521

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

8,493

(2,523

)

SHAREHOLDERS' FUNDS

8,495

(2,521

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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.

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 26 April 2026 and were signed on its behalf by:

M J W Gentles - Director

1.	STATUTORY INFORMATION

MGD Estates Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

Turnover

Turnover is derived from rental charged by the company.

Turnover is measured at the fair value of rent charged, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

property

Totals

£

COST

At 1 December 2024

and 30 November 2025

1,258,921

86,977

1,345,898

DEPRECIATION

At 1 December 2024

97,204

8,698

105,902

Charge for year

25,179

8,698

33,877

At 30 November 2025

122,383

17,396

139,779

NET BOOK VALUE

At 30 November 2025

1,136,538

69,581

1,206,119

At 30 November 2024

1,161,717

78,279

1,239,996

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 December 2024

and 30 November 2025

100

NET BOOK VALUE

At 30 November 2025

100

At 30 November 2024

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

810,841

812,993

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

2,284

2,787

Taxation and social security

13,589

-

Other creditors

1,447,829

1,464,929

1,463,702

1,467,716

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

-

2,496

Other creditors

633,584

636,080

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

2,284

5,283

The bank loan is supported by a 100% guarantee from the UK Government.

11.	RELATED PARTY DISCLOSURES

During the period the company operated a director's loan account. The company repaid loans of £15,000 to the directors.

Amount due to the director's at the year end was £3,850 (2023: £18,850).

During the period the company operated a loan account with St Andrews Golf Travel Limited, a company with common control.

The balance due to St Andrews Golf Travel Limited at the period end was £1,441,398 (2024: £1,441,398).

The company also operated a loan account with Andrean Links Ltd, a company with common directors.

The balance due from Andrean Links Ltd at the period end was £809,838 (2024 £809,838).

The loans are interest free with no fixed repayment date.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MGD Estates Limited for the year ended 30 November 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of MGD Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MGD Estates Limited and state those matters that we have agreed to state to the Board of Directors of MGD Estates Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MGD Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MGD Estates Limited. You consider that MGD Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MGD Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

26 April 2026