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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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MCI LOGISTICS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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MCI LOGISTICS LIMITED |
MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MCI LOGISTICS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1st Floor.. |
Nathaniel House |
David Street |
Bridgend |
South Wales |
CF31 3SA |
MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Revaluation reserve | 9 |
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Capital redemption reserve |
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Retained earnings |
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( |
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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. |
MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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MCI Logistics Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST OR VALUATION |
At 1 January 2018 |
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Additions |
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Disposals | ( |
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Revaluations | ( |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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Revaluation adjustments | ( |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Cost or valuation at 31 December 2018 is represented by: |
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Plant and |
machinery |
etc |
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Valuation in 2018 | (12,813 | ) |
Cost | 421,997 |
409,184 |
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If plant and machinery had not been revalued it would have been included at the following historical cost: |
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31.12.18 | 31.12.17 |
£ | £ |
Cost | 421,247 | - |
Aggregate depreciation | 382,813 | - |
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Plant and Machinery were valued on an open market basis on 31 December 2018 by Philip Roberts (Company Director) |
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MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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The Company owns 100% of the issued share capital of the Maher Cohen Industries Limited, a company |
incorporated in England and Wales. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | PROVISIONS FOR LIABILITIES |
31.12.18 | 31.12.17 |
£ | £ |
Deferred tax | 57,152 | - |
Other provisions | 90,000 | - |
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Deferred | Other |
tax | provisions |
£ | £ |
Provided during year |
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Balance at 31 December 2018 |
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MCI LOGISTICS LIMITED (REGISTERED NUMBER: 02532963) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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8. | PROVISIONS FOR LIABILITIES - continued |
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The provision relates to obligations within a long term customer contract, which limit the ability of the company |
to increase charges in line with expected cost increases over the life of the contract, and to parent company |
management charges. |
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9. | RESERVES |
Revaluation |
reserve |
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Revaluation Gain | 280,000 |
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At 31 December 2018 |
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Within the retained earnings £226,800 (£280,000 gain less £53,200 deferred tax) is non-distributable reserves in |
relation to the revaluation gain on the plant and machinery. |
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10. | RELATED PARTY DISCLOSURES |
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The company is a 100% subsidiary of Combesgate Limited, a company registered in England and Wales. The |
registered office is Newton Industrial Estate, Cross Keys, Newport, South Wales, NP11 7PZ. |