Abbreviated Company Accounts - MG ASSOCIATES LIMITED

Abbreviated Company Accounts - MG ASSOCIATES LIMITED


Registered Number 05622876

MG ASSOCIATES LIMITED

Abbreviated Accounts

30 November 2014

MG ASSOCIATES LIMITED Registered Number 05622876

Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 36,300 96,300
Tangible assets 3 167 -
36,467 96,300
Current assets
Debtors 100,215 67,178
Cash at bank and in hand 8,390 5,675
108,605 72,853
Creditors: amounts falling due within one year (172,506) (83,797)
Net current assets (liabilities) (63,901) (10,944)
Total assets less current liabilities (27,434) 85,356
Creditors: amounts falling due after more than one year (89,342) (139,279)
Total net assets (liabilities) (116,776) (53,923)
Capital and reserves
Called up share capital 100 100
Profit and loss account (116,876) (54,023)
Shareholders' funds (116,776) (53,923)
  • For the year ending 30 November 2014 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.

Approved by the Board on 24 August 2015

And signed on their behalf by:
Michael Ghersie, Director

MG ASSOCIATES LIMITED Registered Number 05622876

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
T/o represent amounts chargeable net of VAT in respect of sale of goods and services to customers.

Tangible assets depreciation policy
Tangible assets are depreciated on the 25% straight line basis

Intangible assets amortisation policy
N/a

Valuation information and policy
N/a

Other accounting policies
N/a

2Intangible fixed assets
£
Cost
At 1 December 2013 96,300
Additions -
Disposals (60,000)
Revaluations -
Transfers -
At 30 November 2014 36,300
Amortisation
At 1 December 2013 -
Charge for the year -
On disposals -
At 30 November 2014 -
Net book values
At 30 November 2014 36,300
At 30 November 2013 96,300
3Tangible fixed assets
£
Cost
At 1 December 2013 0
Additions 223
Disposals -
Revaluations -
Transfers -
At 30 November 2014 223
Depreciation
At 1 December 2013 0
Charge for the year 56
On disposals -
At 30 November 2014 56
Net book values
At 30 November 2014 167
At 30 November 2013 0