MKGH Ltd - Accounts to registrar - small 17.2
MKGH Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 5 April 2017 |
| for |
| MKGH Ltd |
| MKGH Ltd (Registered number: SC211730) |
| Contents of the Financial Statements |
| for the Year Ended 5 April 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MKGH Ltd |
| Company Information |
| for the Year Ended 5 April 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| MKGH Ltd (Registered number: SC211730) |
| Balance Sheet |
| 5 April 2017 |
| 5.4.17 | 5.4.16 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The director acknowledges her 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. |
| 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 |
| MKGH Ltd (Registered number: SC211730) |
| Notes to the Financial Statements |
| for the Year Ended 5 April 2017 |
| 1. | STATUTORY INFORMATION |
| MKGH Ltd is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| MKGH Ltd (Registered number: SC211730) |
| Notes to the Financial Statements - continued |
| for the Year Ended 5 April 2017 |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 6 April 2016 |
| and 5 April 2017 |
| AMORTISATION |
| At 6 April 2016 |
| and 5 April 2017 |
| NET BOOK VALUE |
| At 5 April 2017 |
| At 5 April 2016 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 5.4.17 | 5.4.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 5.4.17 | 5.4.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | RELATED PARTY DISCLOSURES |
| The Company agreed to accept the novations of financial contracts from employees, L Melville and S Melville |
| on 25th July 2014 as part of the employees' remuneration for the period. From the date of novation, the Company |
| would benefit from any profits under the contracts (a maximum of £89,337.38) and would become liable for any |
| costs under the contracts (a maximum of £1,080,000). The financial contracts expired on 1st October 2014 and |
| the Company lost £1,080,000 under the contracts. |
| In addition the Company agreed to accept the novations of financial contract from employee, L Melville on 16th |
| February 2015 as part of the employees' remuneration for the period. From the date of novation, the Company |
| would benefit from any profits under the contracts (a maximum of £81,665.77) and would become liable for any |
| costs under the contracts (a maximum of £1,000,000). The financial contracts expired on 31st May 2015 and |
| because the board of directors believe this an onerous contract, a provision of £1,000,000 has been made in the |
| accounts. |
| 7. | ULTIMATE CONTROLLING PARTY |
| There was no ultimate controlling party during the year. The directors controlled the company during the year. |