MGP Solutions Limited - Abbreviated accounts 16.3
MGP Solutions Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 July 2016 |
| for |
| MGP Solutions Limited |
| MGP Solutions Limited (Registered number: 07693270) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| MGP Solutions Limited |
| Company Information |
| for the Year Ended 31 July 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| MGP Solutions Limited (Registered number: 07693270) |
| Abbreviated Balance Sheet |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| MGP Solutions Limited (Registered number: 07693270) |
| Abbreviated Balance Sheet - continued |
| 31 July 2016 |
| The financial statements were approved by the director on |
| MGP Solutions Limited (Registered number: 07693270) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the assumption that the company is able to carry |
| on business as a going concern, which the directors consider appropriate having regard to the |
| company's current and expected performance. |
| 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 January 2015). |
| Turnover |
| Turnover is stated net of VAT and trade discounts.Turnover from the supply of services represents |
| the value of services provided, to the extent that there is a right to consideration, and is recorded |
| at the value of the consideration due. Where a contract has only been partially completed at the |
| balance sheet date turnover represents the value of the service provided to date based on a |
| proportion of the total contract value. |
| Tangible fixed assets |
| Computer equipment | - |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line |
| basis over the period of the lease. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| and 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| MGP Solutions Limited (Registered number: 07693270) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2016 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 August 2015 | 175 |
| Disposals | (75 | ) |
| At 31 July 2016 | 100 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ |
| Aggregate capital and reserves | 100 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 75.00 |
| £ | £ |
| Aggregate capital and reserves | 22,865 | 68,042 |
| (Loss)/profit for the year | (45,177 | ) | 1,594 |
| On 4 January 2016, MGP Solutions Limited transferred all of the shares owned in Xrail Solutions |
| Limited to XRail Group Limited. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ |
| Aggregate capital and reserves | 100 |
| MGP Solutions Limited (Registered number: 07693270) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2016 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary 'A' shares | 100.00 |
| Ordinary 'B' shares | 100.00 |
| Xrail Site Limited was formed on 22 March 2016, of which Xrail Group Limited own 100% of the share |
| capital. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary 'A' shares | 100.00 |
| Ordinary 'B' shares | 100.00 |
| Xrail Certified Limited was formed on 23 June 2016, of which Xrail Group Limited own 100% of the |
| share capital. |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |