MCGINLEY_SYSTEMS_INTERNAT - Accounts

THE MCG GROUP INTERNATIONAL LIMITED - Company Information

Print Friendly Version

Company Registration No. 02885936 (England and Wales)

MCGINLEY SYSTEMS INTERNATIONAL LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

MCGINLEY SYSTEMS INTERNATIONAL LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MCGINLEY SYSTEMS INTERNATIONAL LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

773

966

Investments

612

1,385

1,578

Current assets

Debtors

1,601,058

1,404,013

Cash at bank and in hand

2,269

1,955

1,603,327

1,405,968

Creditors: amounts falling due within one year

(1,425,880)

(1,244,665)

Net current assets

177,447

161,303

Total assets less current liabilities

178,832

162,881

Capital and reserves

Called up share capital

1,000

Profit and loss account

177,832

161,881

Shareholders' funds

178,832

162,881

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 September 2016

Mr C McGinley

Director

Company Registration No. 02885936

MCGINLEY SYSTEMS INTERNATIONAL LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

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:

Plant and machinery

20% on written down value

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MCGINLEY SYSTEMS INTERNATIONAL LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2015 & at 31 December 2015

4,988

612

5,600

Depreciation

At 1 January 2015

4,022

Charge for the year

193

At 31 December 2015

4,215

Net book value

At 31 December 2015

773

612

1,385

At 31 December 2014

966

612

1,578

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

McGinley Space Systems Limited

Ireland

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

McGinley Space Systems Limited

Recruitment in Aerospace Sector

The results from the McGinley Space Systems Limited's Accounts are not yet available.

Share capital

2015

2014

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000