1 false false false false false false false false false true false true false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 8,410 250 8,660 7,784 219 8,003 657 626 xbrli:pure xbrli:shares iso4217:GBP 05721214 2022-03-01 2023-02-28 05721214 2023-02-28 05721214 2022-02-28 05721214 2021-03-01 2022-02-28 05721214 2022-02-28 05721214 core:FurnitureFittings 2022-03-01 2023-02-28 05721214 bus:Director1 2022-03-01 2023-02-28 05721214 core:FurnitureFittings 2022-02-28 05721214 core:FurnitureFittings 2023-02-28 05721214 core:WithinOneYear 2023-02-28 05721214 core:WithinOneYear 2022-02-28 05721214 core:ShareCapital 2023-02-28 05721214 core:ShareCapital 2022-02-28 05721214 core:RetainedEarningsAccumulatedLosses 2023-02-28 05721214 core:RetainedEarningsAccumulatedLosses 2022-02-28 05721214 core:FurnitureFittings 2022-02-28 05721214 bus:Director1 2022-02-28 05721214 bus:Director1 2023-02-28 05721214 bus:Director1 2021-02-28 05721214 bus:Director1 2022-02-28 05721214 bus:Director1 2021-03-01 2022-02-28 05721214 bus:SmallEntities 2022-03-01 2023-02-28 05721214 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05721214 bus:FullAccounts 2022-03-01 2023-02-28 05721214 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 05721214 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 05721214
Mrcyeo Limited
Filleted Unaudited Financial Statements
For the year ended
28 February 2023
Mrcyeo Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
657
626
Current assets
Cash at bank and in hand
61,456
56,245
Creditors: amounts falling due within one year
6
17,749
10,456
--------
--------
Net current assets
43,707
45,789
--------
--------
Total assets less current liabilities
44,364
46,415
--------
--------
Net assets
44,364
46,415
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
44,363
46,414
--------
--------
Shareholder funds
44,364
46,415
--------
--------
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 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his 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 27 November 2023 , and are signed on behalf of the board by:
C Yeo
Director
Company registration number: 05721214
Mrcyeo Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Bees, Camden Road, Sevenoaks, Kent.
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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 March 2022
8,410
Additions
250
-------
At 28 February 2023
8,660
-------
Depreciation
At 1 March 2022
7,784
Charge for the year
219
-------
At 28 February 2023
8,003
-------
Carrying amount
At 28 February 2023
657
-------
At 28 February 2022
626
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,436
6,612
Social security and other taxes
6,400
301
Other creditors
9,913
3,543
--------
--------
17,749
10,456
--------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Yeo
( 1,881)
( 6,632)
( 8,513)
-------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Yeo
( 7,078)
5,197
( 1,881)
-------
-------
-------
8. Related party transactions
Dividends totalling £8,000 (2022 £25,000) were paid in the year in respect of shares held by the company's director.