Relate AccountsProduction v2.7.2 v2.7.2 2022-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is Public Relation services. 5 October 2023 19 19 NI057811 2023-01-31 NI057811 2022-01-31 NI057811 2021-01-31 NI057811 2022-02-01 2023-01-31 NI057811 2021-02-01 2022-01-31 NI057811 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI057811 uk-curr:PoundSterling 2022-02-01 2023-01-31 NI057811 uk-bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 NI057811 uk-bus:AbridgedAccounts 2022-02-01 2023-01-31 NI057811 uk-core:ShareCapital 2023-01-31 NI057811 uk-core:ShareCapital 2022-01-31 NI057811 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI057811 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI057811 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI057811 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI057811 uk-bus:FRS102 2022-02-01 2023-01-31 NI057811 uk-core:Land 2022-02-01 2023-01-31 NI057811 uk-core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 NI057811 uk-core:CostValuation 2023-01-31 NI057811 2022-02-01 2023-01-31 NI057811 uk-bus:Director1 2022-02-01 2023-01-31 NI057811 uk-bus:Director2 2022-02-01 2023-01-31 NI057811 uk-bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI057811
 
 
MCE (N.I.) LTD
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2023
MCE (N.I.) LTD
Company Registration Number: NI057811
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 January 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 8,804 24,268
Financial assets 5 49,995 49,995
───────── ─────────
58,799 74,263
───────── ─────────
 
Current Assets
Debtors 561,598 594,719
Cash and cash equivalents 208,947 195,502
───────── ─────────
770,545 790,221
───────── ─────────
Creditors: amounts falling due within one year (319,620) (466,163)
───────── ─────────
Net Current Assets 450,925 324,058
───────── ─────────
Total Assets less Current Liabilities 509,724 398,321
 
Creditors:
amounts falling due after more than one year (34,638) (74,833)
 
Provisions for liabilities (1,465) (3,021)
───────── ─────────
Net Assets 473,621 320,467
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 473,620 320,466
───────── ─────────
Shareholders' Funds 473,621 320,467
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Directors' Report.
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 5 October 2023 and signed on its behalf by
           
________________________________     ________________________________
Mr. Paul McErlean     Mrs Louise De'Ath
Director     Director
           



MCE (N.I.) LTD
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
MCE (N.I.) LTD is a  private company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office. The registration number is NI057811. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 January 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is recognised in the period which it relates.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - Straight line over the life of the lease
  Fixtures, fittings and equipment - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2023 2022
  Number Number
 
Employees 19 19
  ═════════ ═════════
         
4. Property, plant and equipment
  Long Fixtures, Total
  leasehold fittings and  
  property equipment  
  £ £ £
Cost
At 1 February 2022 47,792 74,395 122,187
Additions - 7,005 7,005
Disposals - (56,355) (56,355)
  ───────── ───────── ─────────
At 31 January 2023 47,792 25,045 72,837
  ───────── ───────── ─────────
Depreciation
At 1 February 2022 43,012 54,907 97,919
Charge for the financial year 4,780 8,569 13,349
On disposals - (47,235) (47,235)
  ───────── ───────── ─────────
At 31 January 2023 47,792 16,241 64,033
  ───────── ───────── ─────────
Net book value
At 31 January 2023 - 8,804 8,804
  ═════════ ═════════ ═════════
At 31 January 2022 4,780 19,488 24,268
  ═════════ ═════════ ═════════
       
5. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost
 
At 31 January 2023 49,995 49,995
  ───────── ─────────
Net book value
At 31 January 2023 49,995 49,995
  ═════════ ═════════
At 31 January 2022 49,995 49,995
  ═════════ ═════════
   
6. Contingent liabilities
 
During the year ended 31 January 2016 MCE (N.I.) LTD entered into a loan agreement in conjunction with Spirit Communications Ltd, in relation to the purchase of property stock. The loan balance as at 31 January 2023 is £11,252.62. Although MCE (N.I.) LTD have only received 50% of the loan proceeds, they are jointly liable for the full loan. At the balance sheet date no condition existed that would require the full loan to be provided in the year ended 31 January 2023.