MAC-ONE BROADCAST LTD


Director	MCNAMARA, Daniel Michael Howard


Registered Address	2 Frederick Street
	London
	WC1X 0ND


Registered Number	12752604 (England and Wales)

Balance Sheet as at
31 July 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	5		7,713		4,551
			7,713		4,551
Current assets
Debtors	6	3,804		839
Cash at bank and on hand		6,998		600
		10,802		1,439
Creditors amounts falling due within one year	7	(12,032)		(8,344)
Net current assets (liabilities)			(1,230)		(6,905)
Total assets less current liabilities			6,483		(2,354)
Net assets			6,483		(2,354)
Capital and reserves
Called up share capital			1		1
Profit and loss account			6,482		(2,355)
Shareholders' funds			6,483		(2,354)

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 3 October 2023, and are signed on its behalf by:

MCNAMARA, Daniel Michael Howard
Director
Registered Company No. 12752604

MAC-ONE BROADCAST LTD

Notes to the Financial Statements
for the year ended 31 July 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	25

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

4.	Employee information


		2023		2022
	Average number of employees during the year	1		1

5.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 August 22	7,473	7,473
Additions	5,754	5,754
At 31 July 23	13,227	13,227
Depreciation and impairment
At 01 August 22	2,922	2,922
Charge for year	2,592	2,592
At 31 July 23	5,514	5,514
Net book value
At 31 July 23	7,713	7,713
At 31 July 22	4,551	4,551

6.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	3,600	800
Other debtors	204	-
Prepayments and accrued income	-	39
Total	3,804	839


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	77	228
Taxation and social security	10,875	7,036
Accrued liabilities and deferred income	1,080	1,080
Total	12,032	8,344


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.