Company Registration No. 10614144 (England and Wales)
MGL Used Quality Parts Ltd
Unaudited accounts
for the year ended 29 February 2024
MGL Used Quality Parts Ltd
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
64,732
51,277
Creditors: amounts falling due within one year
(23,869)
(17,450)
Net current assets
40,863
33,347
Called up share capital
100
100
Profit and loss account
40,763
33,247
Shareholders' funds
40,863
33,347
For the year ending 29 February 2024 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by
Marius Manerskas
Director
Company Registration No. 10614144
MGL Used Quality Parts Ltd
Notes to the Accounts
for the year ended 29 February 2024
MGL Used Quality Parts Ltd is a private company, limited by shares, registered in England and Wales, registration number 10614144. The registered office is Hardwick Bank, Hadnall, Shropshire, SY4 4AT, GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
16,135
8,669
Loans from directors
286
-
6
Average number of employees
During the year the average number of employees was 3 (2023: 3).