Marshgate Trading Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 03919842 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Marshgate Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S Bhogal

R Chana

SECRETARY:

J S Bhogal

REGISTERED OFFICE:

64 Oakington Avenue

Wembley

Middlesex

HA9 8HZ

REGISTERED NUMBER:

03919842 (England and Wales)

ACCOUNTANT:

P S Nagarajah B.Sc., F.C.A.

Chartered Accountant & Registered Auditor

64 Oakington Avenue

Wembley

Middlesex

HA9 8HZ

FIXED ASSETS

Intangible assets

3

30,000

32,000

Tangible assets

4

3,254

4,338

33,254

36,338

CURRENT ASSETS

Stocks

18,241

20,323

Cash at bank and in hand

2,625

1,917

20,866

22,240

CREDITORS

Amounts falling due within one year

5

287,906

286,866

NET CURRENT LIABILITIES

(267,040

)

(264,626

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(233,786

)

(228,288

)

CREDITORS

Amounts falling due after more than one year

6

10,000

10,000

NET LIABILITIES

(243,786

)

(238,288

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(243,790

)

(238,292

)

SHAREHOLDERS' FUNDS

(243,786

)

(238,288

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017 and were signed on its behalf by:

J S Bhogal - Director

1.	STATUTORY INFORMATION

Marshgate Trading Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

50,000

AMORTISATION

At 1 January 2016

18,000

Charge for year

2,000

At 31 December 2016

20,000

NET BOOK VALUE

At 31 December 2016

30,000

At 31 December 2015

32,000

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

84,338

DEPRECIATION

At 1 January 2016

80,000

Charge for year

1,084

At 31 December 2016

81,084

NET BOOK VALUE

At 31 December 2016

3,254

At 31 December 2015

4,338

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

7,732

7,732

Trade creditors

255

255

Taxation and social security

3,969

3,969

Other creditors

275,950

274,910

287,906

286,866

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

10,000

10,000