MG Trading UK Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06819062 (England and Wales)

MG TRADING UK LTD

T/A

DISTRICT ELECTRICALS

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

Mr M J Galloway

Ms C Ward

SECRETARY:

Mr M J Galloway

REGISTERED OFFICE:

16 Calder Close

Droitwich

Worcestershire

WR9 8DU

REGISTERED NUMBER:

06819062 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

HSBC Bank plc

11 Victoria Square

Droitwich

Worcestershire

WR9 8DH

FIXED ASSETS

Intangible assets

2

-

12,222

Tangible assets

3

3,144

4,342

3,144

16,564

CURRENT ASSETS

Stocks

36,697

38,767

Debtors

3,904

4,455

Cash at bank and in hand

50,245

35,055

90,846

78,277

CREDITORS

Amounts falling due within one year

66,582

67,633

NET CURRENT ASSETS

24,264

10,644

TOTAL ASSETS LESS CURRENT LIABILITIES

27,408

27,208

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

27,308

27,108

SHAREHOLDERS' FUNDS

27,408

27,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23rd April 2015 and were signed on its behalf by:

Mr M J Galloway - Director

Ms C Ward - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been fully amortised evenly

over its estimated life.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

and 31st July 2014

25,000

AMORTISATION

At 1st August 2013

12,778

Amortisation for year

12,222

At 31st July 2014

25,000

NET BOOK VALUE

At 31st July 2014

-

At 31st July 2013

12,222

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

and 31st July 2014

8,509

DEPRECIATION

At 1st August 2013

4,167

Charge for year

1,198

At 31st July 2014

5,365

NET BOOK VALUE

At 31st July 2014

3,144

At 31st July 2013

4,342

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of MG Trading UK Ltd for the year ended 31st July 2014 which comprise the Profit and Loss Account, the Balance

Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of MG Trading UK Ltd, 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 MG Trading UK Ltd and state those matters that we have agreed to state to the Board of Directors of MG Trading UK Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 MG Trading UK Ltd 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 MG Trading UK Ltd. You consider that MG Trading UK Ltd 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 MG Trading UK Ltd. 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.

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

23rd April 2015