2022-11-012023-10-312023-10-31false05866241MISSIONCX 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MISSIONCX LIMITED

Registered Number
05866241
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

MISSIONCX LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

SLATER, Ben
SLATER, Joanne

Company Secretary

SLATER, Ben

Registered Address

Armstrong Watson Unit 9 Europe Way
Marvejols Business Park
Cockermouth
CA13 0RJ

Registered Number

05866241 (England and Wales)
MISSIONCX LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets511,60215,636
11,60215,636
Current assets
Debtors71,195,453743,641
Cash at bank and on hand176,680108,425
1,372,133852,066
Creditors amounts falling due within one year8(1,126,094)(698,254)
Net current assets (liabilities)246,039153,812
Total assets less current liabilities257,641169,448
Provisions for liabilities9(2,901)(3,911)
Net assets254,740165,537
Capital and reserves
Called up share capital1,0001,000
Profit and loss account253,740164,537
Shareholders' funds254,740165,537
The financial statements were approved and authorised for issue by the Board of Directors on 25 January 2024, and are signed on its behalf by:
SLATER, Ben
Director
SLATER, Joanne
Director

Registered Company No. 05866241
MISSIONCX LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Turnover policy
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/or 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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Taxation policy
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 policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
4.Employee information

20232022
Average number of employees during the year74
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 221,34029,33230,672
Additions-6,1536,153
At 31 October 231,34035,48536,825
Depreciation and impairment
At 01 November 2255814,47815,036
Charge for year3359,85210,187
At 31 October 2389324,33025,223
Net book value
At 31 October 2344711,15511,602
At 31 October 2278214,85415,636
6.Description of nature of transactions and balances with related parties
The company received services totaling £Nil (2022 - £14,237) from Slater Consultants Limited, a company owned and controlled by Mr and Mrs B Slater, during the year. At the year end the company owed Slater Consultants Limited £Nil (2022 - £Nil). Slater Consultants Limited also had a loan with the company. The balance due to Missioncx Limited at the year end was £23,856 (2022 - £23,856) and is included in other debtors.
7.Debtors

2023

2022

££
Trade debtors / trade receivables602,015371,906
Other debtors23,85625,258
Prepayments and accrued income569,582346,477
Total1,195,453743,641
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,440-
Bank borrowings and overdrafts540,501330,089
Taxation and social security81,21735,811
Other creditors1,381861
Accrued liabilities and deferred income501,555331,493
Total1,126,094698,254
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.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,9013,911
Total2,9013,911