Market Generation Services Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04635464 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

Market Generation Services Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Worth

SECRETARY:

Miss V A G Worth

REGISTERED OFFICE:

68 Gaddesdon Crescent

Wavendon Gate

Milton Keynes

Buckinghamshire

MK7 7SQ

REGISTERED NUMBER:

04635464 (England and Wales)

ACCOUNTANTS:

Carrington-May

Chartered Certified Accountants

31 Walker Avenue

Wolverton Mill East

Milton Keynes

Buckinghamshire

MK12 5TW

FIXED ASSETS

Tangible assets

4

52

254

CURRENT ASSETS

Debtors

24,035

20,352

Cash at bank

4

4

24,039

20,356

CREDITORS

Amounts falling due within one year

24,005

20,384

NET CURRENT ASSETS/(LIABILITIES)

34

(28

)

TOTAL ASSETS LESS CURRENT LIABILITIES

86

226

PROVISIONS FOR LIABILITIES

10

51

NET ASSETS

76

175

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

75

174

SHAREHOLDERS' FUNDS

76

175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 1 December 2017 and were signed by:

J Worth - Director

1.	STATUTORY INFORMATION

Market Generation Services Ltd 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.

The director has considered the future profitability and cash flow of the company. The company is continuing to

meet its liabilities as they fall due. On establishing these factors, the director considers the going concern basis of

preparation to be appropriate.

Turnover

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

value added tax and other sales taxes.

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

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

1,253

DEPRECIATION

At 1 April 2016

999

Charge for year

202

At 31 March 2017

1,201

NET BOOK VALUE

At 31 March 2017

52

At 31 March 2016

254

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the sum of £18,176 (2016 - £7,477) was owed by the director, J P Worth Esq. The

maximum liability during the period was £18,176. The loan is interest free with no fixed repayment.

6.	RELATED PARTY DISCLOSURES