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COMPANY REGISTRATION NUMBER: NI675913
MCA Enterprises (Northern Ireland) Limited
Filleted Unaudited Financial Statements
31 July 2023
MCA Enterprises (Northern Ireland) Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Current assets
Stocks
18,385
Debtors
4
68,292
144,444
Cash at bank and in hand
58,217
146,378
---------
---------
126,509
309,207
Creditors: amounts falling due within one year
5
76,702
245,668
---------
---------
Net current assets
49,807
63,539
--------
--------
Total assets less current liabilities
49,807
63,539
--------
--------
Net assets
49,807
63,539
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
49,707
63,439
--------
--------
Shareholders funds
49,807
63,539
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
Mr C Betts
Mr P Harris
Director
Director
Company registration number: NI675913
MCA Enterprises (Northern Ireland) Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Ormeau House, 91-97 Ormeau Road, Belfast, BT7 1SH, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Trade debtors
45,298
136,344
Amounts owed by group undertakings and undertakings in which the company has a participating interest
7,144
100
Other debtors
15,850
8,000
--------
---------
68,292
144,444
--------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
74,452
169,864
Amounts owed to group undertakings and undertakings in which the company has a participating interest
63,955
Corporation tax
5,446
Other creditors
2,250
6,403
--------
---------
76,702
245,668
--------
---------
6. Controlling party
The company is a wholly owned subsidiary of Harbett Holdings Limited, a company registered in England.