Market Generation Services Ltd - Accounts to registrar (filleted) - small 18.2
Market Generation Services Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2021 |
for |
Market Generation Services Ltd |
Market Generation Services Ltd (Registered number: 04635464) |
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Market Generation Services Ltd |
Company Information |
for the Year Ended 31 March 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
31 Walker Avenue |
Wolverton Mill East |
Milton Keynes |
Buckinghamshire |
MK12 5TW |
Market Generation Services Ltd (Registered number: 04635464) |
Abridged Statement of Financial Position |
31 March 2021 |
2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Market Generation Services Ltd (Registered number: 04635464) |
Abridged Statement of Financial Position - continued |
31 March 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Market Generation Services Ltd (Registered number: 04635464) |
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
1. | STATUTORY INFORMATION |
Market Generation Services Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director has considered the future profitability and cash flow of the company. The company is continuing to meet its liabilities as they fall due. On establishing these factors, the director considers the going concern basis of preparation to be appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Market Generation Services Ltd (Registered number: 04635464) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the sum of £2 was owed to the director, J P Worth Esq, (2020 - £18,651 was owed by the director) . The maximum liability during the period was £18,651.The loan is interest free. The loan has been repaid in full during the year. |