Company Registration No. 10540828 (England and Wales)
MGU Logistics Ltd
Unaudited accounts
for the year ended 31 December 2019
MGU Logistics Ltd
Unaudited accounts
Contents
MGU Logistics Ltd
Company Information
for the year ended 31 December 2019
Directors
Ghulam Mustafa Ijaz
Mohammed Ijaz
Mohammed Usman
Company Number
10540828 (England and Wales)
Registered Office
99-101 WOLSELEY ROAD
SOUTH YORKSHIRE
SHEFFIELD
S8 0ZT
UNITED KINGDOM
MGU Logistics Ltd
Statement of financial position
as at
31 December 2019
Tangible assets
476,868
122,262
Cash at bank and in hand
15,917
1,372
Creditors: amounts falling due within one year
(26,080)
-
Net current assets
3,557
4,992
Total assets less current liabilities
480,425
127,254
Creditors: amounts falling due after more than one year
(388,854)
(123,404)
Called up share capital
100
100
Profit and loss account
91,471
3,750
Shareholders' funds
91,571
3,850
For the year ending 31 December 2019 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 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2020 and were signed on its behalf by
Ghulam Mustafa Ijaz
Director
Company Registration No. 10540828
MGU Logistics Ltd
Notes to the Accounts
for the year ended 31 December 2019
MGU Logistics Ltd is a private company, limited by shares, registered in England and Wales, registration number 10540828. The registered office is 99-101 WOLSELEY ROAD, SOUTH YORKSHIRE, SHEFFIELD, S8 0ZT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2019
-
130,000
130,000
Additions
261,309
130,000
391,309
At 31 December 2019
261,309
260,000
521,309
At 1 January 2019
-
7,738
7,738
Charge for the year
-
36,703
36,703
At 31 December 2019
-
44,441
44,441
At 31 December 2019
261,309
215,559
476,868
At 31 December 2018
-
122,262
122,262
Other debtors
13,720
3,620
MGU Logistics Ltd
Notes to the Accounts
for the year ended 31 December 2019
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
1,386
-
Loans from directors
24,694
-
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
388,854
123,404
8
Average number of employees
During the year the average number of employees was 3 (2018: 1).