MKG (UK) LTD

MKG (UK) LTD

MKG (UK) LTD - Company Information

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MKG (UK) LTD

Company Registration Number:
04120757 (England and Wales)

Unaudited abridged accounts for the year ended 30 December 2016

Period of accounts

Start date: 01 January 2016

End date: 30 December 2016

MKG (UK) LTD

Contents of the Financial Statements

for the Period Ended 30 December 2016

Balance sheet
Notes

MKG (UK) LTD

Balance sheet

As at 30 December 2016


Notes
2016
2015


£
£
Fixed assets
Intangible assets: 3 155,250 207,000
Tangible assets: 4 1,035,534 723,394
Total fixed assets: 1,190,784 930,394
Current assets
Stocks: 14,461 18,554
Debtors:   109,172 355,127
Cash at bank and in hand: 231,751 305,726
Total current assets: 355,384 679,407
Creditors: amounts falling due within one year:   (970,524) (878,850)
Net current assets (liabilities): (615,140) (199,443)
Total assets less current liabilities: 575,644 730,951
Provision for liabilities: (40,562) (16,306)
Total net assets (liabilities): 535,082 714,645
Capital and reserves
Called up share capital: 4 4
Profit and loss account: 535,078 714,641
Shareholders funds: 535,082 714,645

The notes form part of these financial statements

MKG (UK) LTD

Balance sheet statements

For the year ending 30 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 April 2018
and signed on behalf of the board by:

Name: M K Gangotra
Status: Director

The notes form part of these financial statements

MKG (UK) LTD

Notes to the Financial Statements

for the Period Ended 30 December 2016

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Land & buildings - 10% on cost and 2% on cost.Plant & machinery - 25% on reducing balance and 20% on reducing balance.

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses.

Valuation and information policy

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

MKG (UK) LTD

Notes to the Financial Statements

for the Period Ended 30 December 2016

2. Employees

2016 2015
Average number of employees during the period 113 110

MKG (UK) LTD

Notes to the Financial Statements

for the Period Ended 30 December 2016

3. Intangible Assets

Total
Cost £
At 01 January 2016 532,500
At 30 December 2016 532,500
Amortisation
At 01 January 2016 325,500
Charge for year 51,750
At 30 December 2016 377,250
Net book value
At 30 December 2016 155,250
At 31 December 2015 207,000

MKG (UK) LTD

Notes to the Financial Statements

for the Period Ended 30 December 2016

4. Tangible Assets

Total
Cost £
At 01 January 2016 1,357,869
Additions 396,027
At 30 December 2016 1,753,896
Depreciation
At 01 January 2016 634,475
Charge for year 83,887
At 30 December 2016 718,362
Net book value
At 30 December 2016 1,035,534
At 31 December 2015 723,394