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MLG AVIATION LTD




Company Registration Number:
04935487 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st November 2009

End date: 31st October 2010

SUBMITTED

MLG AVIATION LTD

Company Information
for the Period Ended
31st October 2010




Director: M L Gillott
Company secretary: A Gillott
Registered office: Fairholme, Petersfield Rd
Ropley,
Alresford
Hants
SO24 0EJ
Company Registration Number: 04935487 (England and Wales)

MLG AVIATION LTD

Abbreviated Balance sheet
As at 31st October 2010

Notes 2010
£
2009
£
Fixed assets
Tangible assets: - 585
Total fixed assets: - 585
Current assets
Debtors: 2,183 102,053
Cash at bank and in hand: 95,094 43,492
Total current assets: 97,277 145,545
Creditors
Net current assets (liabilities): 97,277 145,545
Total assets less current liabilities: 97,277 146,130
Creditors: amounts falling due after more than one year: 45,956 64,345
Total net assets (liabilities): 51,321 81,785

The notes form part of these financial statements

MLG AVIATION LTD

Abbreviated Balance sheet
As at 31st October 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 2 3 3
Profit and Loss account: 51,318 81,782
Total shareholders funds: 51,321 81,785

For the year ending 31 October 2010 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 23 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: M L Gillott
Status: Director

The notes form part of these financial statements

MLG AVIATION LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts are prepared under the historical cost convention using the following accounting policies and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover represents fee income at invoiced value less valued tax. Turnover attributable to markets outside the United Kingdom amounted to 41% ( 2009: 40%).

    Tangible fixed assets depreciation policy

    Depreciation Depreciation is provided to write off the cost less estimated residual values of all fixed assets, over their expected useful lives. It is calculated on the original cost of the assets at the following rates: Computer equipment 3 years on cost

    Other accounting policies

    Foreign currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

  • 2. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3 1 3
    Total share capital: 3
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3 1 3
    Total share capital: 3
  • 4. Related party disclosures

    Name of the ultimate controlling party during the period: M L Gillott
    Name of related party: A Gillott
    Relationship: Wife

    Dividends paid to directors Dividends paid to the director in his capacity as a shareholder during the year amounted to £33,500 (2009: £36,800).