Registered Number:07277534 |
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2017
MAGG Group Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
MAGG Group Limited
Statement of Financial Position
2016
2017
Property, plant and equipment |
1,274
974
2
1,274
974
5,000
5,000
3
Trade and other receivables |
22,025
49,726
4
54,726
27,025
Trade and other payables: amounts falling due within one |
year |
(62,881)
(74,314)
5
(35,856)
(19,588)
Net current liabilities
Total assets less current liabilities |
(18,314)
(34,882)
(18,314)
Net liabilities
(34,882)
2
2
(18,316)
(34,884)
(18,314)
(34,882)
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
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 directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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. |
These financial statements were approved and authorised for issue by the Board on 08 March 2018 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2017
MAGG Group Limited
Notes to the Financial Statements
Statutory Information
MAGG Group Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 07277534. |
Unit 4 Commerce Drive
Boscomoor Industrial Estate
Penkridge
Stafford
ST19 5QY
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
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
Fixtures and fittings
Inventories
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. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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For the year ended 31 March 2017
MAGG Group Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
1,846
450
1,396
660
540
120
1,516
990
2,506
Provision for depreciation and impairment |
872
138
734
Charge for year
360
197
163
1,232
335
897
619
655
1,274
662
312
974
2016
2017
5,000
5,000
4. Trade and other receivables |
2016
2017
49,726
21,911
-
114
22,025
49,726
5. Trade and other payables: amounts falling due within one year |
2016
2017
15,469
8,199
16,139
12,118
Taxation and social security |
14,449
10,475
28,257
32,089
74,314
62,881
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