Registered number
05030703
Mortgage Connections UK Ltd
Abbreviated Accounts
31 January 2023
Mortgage Connections UK Ltd
Registered number: 05030703
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 41 57
Current assets
Debtors 4 90 -
Cash at bank and in hand 143,337 153,227
143,427 153,227
Creditors: amounts falling due within one year 5 (96,253) (95,567)
Net current assets 47,174 57,660
Total assets less current liabilities 47,215 57,717
Creditors: amounts falling due after more than one year 6 (32,853) (43,501)
Net assets 14,362 14,216
Capital and reserves
Called up share capital 12 12
Profit and loss account 14,350 14,204
Shareholders' funds 14,362 14,216
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Entwistle
Director
Approved by the board on 3 October 2023
Mortgage Connections UK Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 1,003
At 31 January 2023 1,003
Depreciation
At 1 February 2022 946
Charge for the year 16
At 31 January 2023 962
Net book value
At 31 January 2023 41
At 31 January 2022 57
4 Debtors 2023 2022
£ £
Trade debtors - -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,742 4,989
Corporation tax 62,075 63,734
Other taxes and social security costs 26,707 6,516
Other creditors 1,729 20,328
96,253 95,567
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,853 43,501
7 Other information
Mortgage Connections UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
277 Stockport Road
Ashton u Lyne
Lancashire
OL7 0NT
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