MG HOME FINANCE LIMITED Accounts filed on 31-03-2015

MG HOME FINANCE LIMITED Accounts filed on 31-03-2015

MG HOME FINANCE LIMITED - Company Information

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MG HOME FINANCE LIMITED




Company Registration Number:
05761500 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st April 2014

End date: 31st March 2015

SUBMITTED

MG HOME FINANCE LIMITED

Contents of the Financial Statements
for the Period Ended 31st March 2015

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

MG HOME FINANCE LIMITED

Company Information
for the Period Ended 31st March 2015




Director: Mark Garratt
Registered office: 10 Alice Gardens
Leicester
Leicestershire
LE8 6WH
Company Registration Number: 05761500 (England and Wales)

MG HOME FINANCE LIMITED

Directors' Report Period Ended 31st March 2015

The directors present their report with the financial statements of the company for the period ended 31st March 2015

Principal activities
The principal activity of the company in the period under review was:
Home Finance

Directors
The directors shown below have held office during the whole of the period from
01st April 2014 to 31st March 2015
Mark Garratt

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 21 December 2015
And Signed On Behalf Of The Board By:

Name: Mark Garratt
Status: Director

MG HOME FINANCE LIMITED

Profit and Loss Account

for the Period Ended 31st March 2015

Notes 2015
£		 2014
£
Turnover: 7,961 8,577
Cost of sales: 2,410 1,633
Gross profit or (loss): 5,551 6,944
Distribution costs: 0 0
Administrative expenses: , 19,430 14,028
Other operating income: 0 0
Operating profit or (loss): ( 13,879 ) ( 7,084 )
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit or (loss) on ordinary activities before taxation: ( 13,879 ) ( 7,084 )
Profit or (loss) for the financial year: ( 13,879 ) ( 7,084 )

The notes form part of these financial statements

MG HOME FINANCE LIMITED

Statement of total recognised gains and losses
31st March 2015

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

MG HOME FINANCE LIMITED

Balance sheet
As at 31st March 2015

Notes 2015
£		 2014
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 2 446 475
Total fixed assets: 446 475
Current assets
Stocks: 0 0
Debtors: 0 0
Cash at bank and in hand: 550 702
Total current assets: 550 702
Creditors: amounts falling due within one year 0 0
Net current assets (liabilities): 550 702
Total assets less current liabilities: 996 1,177
Creditors: amounts falling due after more than one year: 33,676 19,978
Provision for liabilities: 0 0
Total net assets (liabilities): ( 32,680 ) ( 18,801 )

The notes form part of these financial statements

MG HOME FINANCE LIMITED

Balance sheet
As at 31st March 2015
continued

Notes 2015
£		 2014
£
Capital and reserves
Called up share capital: 3 1 1
Revaluation reserve: ( 1 ) ( 1 )
Profit and Loss account: ( 32,680 ) ( 18,801 )
Total shareholders funds: ( 32,680 ) ( 18,801 )

For the year ending 31 March 2015 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 21 December 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mark Garratt
Status: Director

The notes form part of these financial statements

MG HOME FINANCE LIMITED

Notes to the Financial Statements
for the Period Ended 31st March 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    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 policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Equipment: 6% annual written down value.

    Other accounting policies

    Fixed Assets: All fixed assets are initially recorded at cost.

MG HOME FINANCE LIMITED

Notes to the Financial Statements
for the Period Ended 31st March 2015

  • 2. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st April 2014: - - - 475 - 475
    Additions: - - - 0 - 0
    Disposals: - - - 0 - 0
    Revaluations: - - - 0 - 0
    Transfers: - - - 0 - 0
    At 31st March 2015: - - - 475 - 475
    Depreciation
    At 01st April 2014: - - - 0 - 0
    Charge for year: - - - 29 - 29
    On disposals: - - - 0 - 0
    Other adjustments - - - 0 - 0
    At 31st March 2015: - - - 29 - 29
    Net book value
    At 31st March 2015: - - - 446 - 446
    At 31st March 2014: - - - 475 - 475

MG HOME FINANCE LIMITED

Notes to the Financial Statements
for the Period Ended 31st March 2015

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 1.00
    1.00
    		1
    Preference shares: 0 0.00
    0.00
    		0
    Total share capital: 1
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 1.00
    1.00
    		1
    Preference shares: 0 0.00
    0.00
    		0
    Total share capital: 1

    The Director who has served the company during the year together with his beneficial interests in the share of the company were as follows: Ordinary Share of £1 each at 31 March 2015- Mr M Garratt = 1