MAGG Group Limited,Ltd

MAGG Group Limited

Chartered Accountants' Report

For the year ended 31 March 2016

Chartered Accountants' Report to the Board of Directors

In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the

accounts of MAGG Group Limited for the year ended 31 March 2016 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its

ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of MAGG Group Limited, as a body, in accordance with the

terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the

accounts of MAGG Group Limited and state those matters that we have agreed to state to the Board of Directors of

MAGG Group Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MAGG

Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MAGG Group Limited has kept adequate accounting records to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and loss of MAGG Group Limited.

You consider that MAGG Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MAGG Group Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

RB Chartered Accountant

Meeson House

76 Pinfold Lane

Penkridge

Staffordshire

ST19 5AP

12 December 2016

Dated:

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Abbreviated Balance Sheet

MAGG Group Limited

As at 31 March 2016

07277534

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

974

434

974

434

Current assets

Stocks

5,000

Debtors

27,236

22,025

Cash at bank and in hand

3,586

27,025

35,822

Creditors: amounts falling due within one year

(43,649)

(62,881)

(7,827)

(35,856)

Net current liabilities

Total assets less current liabilities

(34,882)

(7,393)

(34,882)

Net liabilities

(7,393)

Capital and reserves

Called up share capital

Profit and loss account

(34,884)

(7,395)

(34,882)

(7,393)

Shareholders funds

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

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

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

Date approved by the board: 12 December 2016

Mr Mark Gibbons Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

MAGG Group Limited

For the year ended 31 March 2016

1 Accounting Policies

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

25% Straight line

Fixtures and Fittings

20% Straight line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

1,129

At 01 April 2015

717

Additions

At 31 March 2016

1,846

Depreciation

695

At 01 April 2015

177

Charge for year

872

At 31 March 2016

Net book values

At 31 March 2016

974

434

At 31 March 2015

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