REGISTERED NUMBER: 08002332 (England and Wales)

MG Control Solutions Limited

Unaudited Financial Statements for the Year Ended 31 March 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Grover

Mrs J Grover

REGISTERED OFFICE:

1 High Street

Sheerness

Kent

ME12 1NY

BUSINESS ADDRESS:

28 Queenborough Drive

Minster

Sheerness

Kent

ME12 2JJ

REGISTERED NUMBER:

08002332 (England and Wales)

ACCOUNTANTS:

Foreman Waller

Chartered Accountants

1 High Street

Sheerness

Kent

ME12 1NY

FIXED ASSETS

Tangible assets

4

811

229

CURRENT ASSETS

Debtors

5

9,412

10,675

Cash at bank

15,677

15,781

25,089

26,456

CREDITORS

Amounts falling due within one year

6

17,004

13,974

NET CURRENT ASSETS

8,085

12,482

TOTAL ASSETS LESS CURRENT LIABILITIES

8,896

12,711

PROVISIONS FOR LIABILITIES

7

154

44

NET ASSETS

8,742

12,667

CAPITAL AND RESERVES

Called up share capital

8

11

11

Retained earnings

8,731

12,656

SHAREHOLDERS' FUNDS

8,742

12,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 24 July 2018 and were signed on its behalf by:

M Grover - Director

1.	STATUTORY INFORMATION

MG Control Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Income recognition

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 etc

-

33% on cost

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties

and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

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 have been enacted or

substantively enacted by the statement of financial position date.

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

statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

1,203

Additions

1,044

Disposals

(809

)

At 31 March 2018

1,438

DEPRECIATION

At 1 April 2017

974

Charge for year

462

Eliminated on disposal

(809

)

At 31 March 2018

627

NET BOOK VALUE

At 31 March 2018

811

At 31 March 2017

229

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

8,550

-

Other debtors

862

10,675

9,412

10,675

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

15,516

12,429

Other creditors

1,488

1,545

17,004

13,974

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

154

44

Deferred

tax

£

Balance at 1 April 2017

44

Provided during year

110

Balance at 31 March 2018

154

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

10

Ordinary A

£1

10

10

1

Ordinary B

£1

1

1

11

11