Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.92022-04-01falseNo description of principal activity0truetrue 04552219 2022-04-01 2023-03-31 04552219 2021-04-01 2022-03-31 04552219 2023-03-31 04552219 2022-03-31 04552219 c:Director1 2022-04-01 2023-03-31 04552219 d:FurnitureFittings 2022-04-01 2023-03-31 04552219 d:FurnitureFittings 2023-03-31 04552219 d:FurnitureFittings 2022-03-31 04552219 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04552219 d:ComputerEquipment 2022-04-01 2023-03-31 04552219 d:ComputerEquipment 2023-03-31 04552219 d:ComputerEquipment 2022-03-31 04552219 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04552219 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04552219 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 04552219 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 04552219 d:CurrentFinancialInstruments 2023-03-31 04552219 d:CurrentFinancialInstruments 2022-03-31 04552219 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04552219 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04552219 d:ShareCapital 2023-03-31 04552219 d:ShareCapital 2022-03-31 04552219 d:RetainedEarningsAccumulatedLosses 2023-03-31 04552219 d:RetainedEarningsAccumulatedLosses 2022-03-31 04552219 c:FRS102 2022-04-01 2023-03-31 04552219 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04552219 c:FullAccounts 2022-04-01 2023-03-31 04552219 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04552219 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04552219









THE MESSAGING CENTRE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THE MESSAGING CENTRE LIMITED
REGISTERED NUMBER: 04552219

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
350,741
407,259

Tangible assets
 5 
501
669

  
351,242
407,928

Current assets
  

Debtors: amounts falling due within one year
 6 
134,889
113,841

Cash at bank and in hand
  
79
196

  
134,968
114,037

Creditors: amounts falling due within one year
 7 
(2,253,698)
(2,232,042)

Net current liabilities
  
 
 
(2,118,730)
 
 
(2,118,005)

Total assets less current liabilities
  
(1,767,488)
(1,710,077)

  

Net liabilities
  
(1,767,488)
(1,710,077)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,767,489)
(1,710,078)

  
(1,767,488)
(1,710,077)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.

P L Tanner
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
THE MESSAGING CENTRE LIMITED
REGISTERED NUMBER: 04552219
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023


Page 2

 
THE MESSAGING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Messaging Centre Limited is a private company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS. The address of its principal place of business is Centa House, 61 Birkenhead Street, London, WC1H 8BB.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of the financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Research and development

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off through profit or loss. 

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Intangible assets

The intangible fixed asset comprises the cost of a patent, developing computer systems and the website and is stated at historical cost less accumulated amortisation. The amortisation rate is calculated to write off the cost of the asset over its expected useful life on the following basis:
Development expenditure                               25% straight line
Patent Costs                                                    10% straight line 

Page 3

 
THE MESSAGING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. 

 
2.10

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from  related parties.  
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Page 4

 
THE MESSAGING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.11

Functional and presentation currency

The company's functional and presentational currency is GBP.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 9).


4.


Intangible assets




Patent and Development costs

£



Cost


At 1 April 2022
565,185



At 31 March 2023

565,185



Amortisation


At 1 April 2022
157,926


Charge for the year on owned assets
56,518



At 31 March 2023

214,444



Net book value



At 31 March 2023
350,741



At 31 March 2022
407,259



Page 5

 
THE MESSAGING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
17,118
566
17,684



At 31 March 2023

17,118
566
17,684



Depreciation


At 1 April 2022
16,628
387
17,015


Charge for the year on owned assets
123
45
168



At 31 March 2023

16,751
432
17,183



Net book value



At 31 March 2023
367
134
501



At 31 March 2022
490
179
669


6.


Debtors

2023
2022
£
£


Trade debtors
-
60

Amounts owed by group undertakings
-
2,575

Other debtors
134,889
51,675

Prepayments and accrued income
-
59,531

134,889
113,841


Page 6

 
THE MESSAGING CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
15
-

Amounts owed to group undertakings
2,253,683
2,218,075

Other taxation and social security
-
12,422

Other creditors
-
1,545

2,253,698
2,232,042



8.


Transactions with directors

Included within other debtors is a loan to P Tanner, a director, amounting to £132,998 (2022: £51,019). This amount is repaid in full within 9 months of the year end. 

 
Page 7