REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 May 2023 |
for |
Management Computer Systems Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 May 2023 |
for |
Management Computer Systems Limited |
Management Computer Systems Limited (Registered number: 02505829) |
Contents of the Financial Statements |
For The Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Management Computer Systems Limited |
Company Information |
For The Year Ended 31 May 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
Management Computer Systems Limited (Registered number: 02505829) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Management Computer Systems Limited (Registered number: 02505829) |
Notes to the Financial Statements |
For The Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Management Computer Systems Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Office equipment | - 15% on cost |
Fixtures and fittings | -10% on cost |
Computer equipment | - 33% on cost |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors that are classified as debt, are initially recognised at transaction price. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire. |
Management Computer Systems Limited (Registered number: 02505829) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs |
The company makes contributions to the director's personal pension scheme. Payments are charged to the profit and loss account in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and | Computer |
equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2022 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Social security and other taxes |
VAT | 1,811 | 2,474 |
HSBC Credit Card | - | 10 |
Director's current account | 7,851 | 313 |
Accruals and deferred income |