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MGC Import Export Consultants Ltd
Registered Number:06535541
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2018
MGC Import Export Consultants Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 March 2018
MGC Import Export Consultants Ltd
Statement of Financial Position
Registered Number :
06535541
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
271
338
2
271
338
Current assets
Trade and other receivables
110,225
172,258
3
129,433
Cash and cash equivalents
74,134
246,392
239,658
Trade and other payables: amounts falling due within one
year
(214,620)
(197,325)
4
25,038
49,067
Net current assets
Total assets less current liabilities
49,338
25,376
49,338
Net assets
25,376
Capital and reserves
Called up share capital
100
100
Retained earnings
49,238
25,276
49,338
25,376
Shareholders' funds
For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Michael Carney Director
These financial statements were approved and authorised for issue by the Board on 04 September 2018 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2018
MGC Import Export Consultants Ltd
Notes to the Financial Statements
Statutory Information
MGC Import Export Consultants Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 06535541.
Registered address:
Crescent House
2-6 Sandy Lane
Leyland
Lancashire
PR25 2EB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 April 2017
2,305
1,026
1,279
At 31 March 2018
1,279
1,026
2,305
Provision for depreciation and impairment
At 01 April 2017
1,967
876
1,091
Charge for year
67
30
37
At 31 March 2018
2,034
906
1,128
At 31 March 2018
Net book value
151
120
271
At 31 March 2017
188
150
338
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5
For the year ended 31 March 2018
MGC Import Export Consultants Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2017
2018
£
£
Trade debtors
172,258
110,225
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
113,962
88,132
Taxation and social security
11,558
11,534
Other creditors
71,805
114,954
197,325
214,620
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