Abbreviated Company Accounts - MGV RETAIL LIMITED

MGV RETAIL LIMITED - Company Information

04212903 MGV RETAIL LIMITED 2015-05-31 false 2014-06-01 2015-05-31 true 04212903 2014-06-01 2015-05-31 04212903 2015-05-31 04212903 2014-05-31 04212903 uk-gaap-cd-bus:Director1 2014-06-01 2015-05-31 04212903 uk-gaap-cd-bus:Director2 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP shares

Registered Number 04212903

MGV RETAIL LIMITED

Abbreviated Accounts

31 May 2015

MGV RETAIL LIMITED Registered Number 04212903

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	12,748	19,414
		12,748	19,414
Current assets
Stocks		95,390	91,307
Debtors	3	29,154	16,754
Cash at bank and in hand		135	131
		124,679	108,192
Creditors: amounts falling due within one year		(274,520)	(266,987)
Net current assets (liabilities)		(149,841)	(158,795)
Total assets less current liabilities		(137,093)	(139,381)
Total net assets (liabilities)		(137,093)	(139,381)
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		(137,094)	(139,382)
Shareholders' funds		(137,093)	(139,381)

For the year ending 31 May 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.

Approved by the Board on 18 February 2016

And signed on their behalf by:
Maria Grachvogel, Director

MGV RETAIL LIMITED Registered Number 04212903

Notes to the Abbreviated Accounts for the period ended 31 May 2015

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
Turnover represents amounts receivable for goods net of VAT and trade discounts

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to
write off the cost less estimated residual value of each asset over its expected useful life,as follows
Fixtures, fittings & equipment 20% reducing balance

2Tangible fixed assets

	£
Cost
At 1 June 2014	38,518
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 31 May 2015	38,518
Depreciation
At 1 June 2014	19,104
Charge for the year	6,666
On disposals	-
At 31 May 2015	25,770
Net book values
At 31 May 2015	12,748
At 31 May 2014	19,414

3Debtors

	2015 £	2014 £
Debtors include the following amounts due after more than one year	29,154	16,754

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1

1 ordinary share of £1 each