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REGISTERED NUMBER: 07521366 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MC2 DESIGN LTD

MC2 DESIGN LTD (REGISTERED NUMBER: 07521366)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MC2 DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Meeta Chauhan





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 07521366 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

MC2 DESIGN LTD (REGISTERED NUMBER: 07521366)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
CURRENT ASSETS
Stocks 9,263 8,500
Debtors 4 49,081 36,071
Cash at bank 16,850 12,603
75,194 57,174
CREDITORS
Amounts falling due within one year 5 74,051 48,779
NET CURRENT ASSETS 1,143 8,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143

8,395

CREDITORS
Amounts falling due after more than one
year

6

5,000

6,685
NET (LIABILITIES)/ASSETS (3,857 ) 1,710

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (3,859 ) 1,708
SHAREHOLDERS' FUNDS (3,857 ) 1,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:



Meeta Chauhan - Director


MC2 DESIGN LTD (REGISTERED NUMBER: 07521366)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

MC2 Design Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 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..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS
28.2.23 28.2.22
£    £   
Amounts falling due within one year:
Trade debtors 7,854 11,931
Other debtors 35,601 20,596
43,455 32,527

MC2 DESIGN LTD (REGISTERED NUMBER: 07521366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. DEBTORS - continued
28.2.23 28.2.22
£    £   
Amounts falling due after more than one year:
Other debtors 5,626 3,544

Aggregate amounts 49,081 36,071

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 2,000 2,195
Trade creditors 61,285 32,043
Taxation and social security 7,729 10,166
Other creditors 3,037 4,375
74,051 48,779

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 5,000 6,685

7. OPERATING LEASE COMMITMENT

At the balance sheet date, the company was committed to payments of £3,188 (2022: £5,739) in respect of equipment hire under a lease expiring on 1 July 2024 of which £2,640 (2022: £2,551) was due within one year.

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £16,656 (2022: £9,180) by the director Meeta Chauhan. This was the maximum amount owed by Ms Chauhan at any time during the year. No interest is charged on overdrawn directors' current account balances.