MG Trading UK Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06819062 (England and Wales)

MG TRADING UK LTD

T/A

DISTRICT ELECTRICALS

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2015

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

-

-

Tangible assets

3

2,385

3,144

2,385

3,144

CURRENT ASSETS

Stocks

36,489

36,697

Debtors

4,085

3,904

Cash at bank and in hand

66,093

50,245

106,667

90,846

CREDITORS

Amounts falling due within one year

79,904

66,582

NET CURRENT ASSETS

26,763

24,264

TOTAL ASSETS LESS CURRENT LIABILITIES

29,148

27,408

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

29,048

27,308

SHAREHOLDERS' FUNDS

29,148

27,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2015 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 29th March 2016 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 2014

and 31st July 2015

25,000

AMORTISATION

At 1st August 2014

and 31st July 2015

25,000

NET BOOK VALUE

At 31st July 2015

-

At 31st July 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2014

and 31st July 2015

8,509

DEPRECIATION

At 1st August 2014

5,365

Charge for year

759

At 31st July 2015

6,124

NET BOOK VALUE

At 31st July 2015

2,385

At 31st July 2014

3,144

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

NIL

Ordinary

£1

-

100

80

Ordinary A

£1

80

-

20

Ordinary B

£1

20

-

100

100

During the year the company passed a special resolution by reclassifying the Ordinary £1 shares as Ordinary A

£1 shares and Ordinary B £1 shares. The rights and privileges attached to these shares were unaltered.

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 2015 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

29th March 2016