2022-04-012023-03-312023-03-31false11261323MISSION TRANSLATIONS 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MISSION TRANSLATIONS LIMITED

Registered Number
11261323
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

MISSION TRANSLATIONS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

AL-ANI, Hawazen Qais Daoud

Registered Address

Floor 14 54 Hagley Road
Birmingham
B16 8PE

Registered Number

11261323 (England and Wales)
MISSION TRANSLATIONS LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets712,79116,207
12,79116,207
Current assets
Stocks450,000243,382
Debtors350,330365,376
Cash at bank and on hand22,63928,337
822,969637,095
Creditors amounts falling due within one year91,508,308971,398
Net current assets (liabilities)(685,339)(334,303)
Total assets less current liabilities(672,548)(318,096)
Creditors amounts falling due after one year219,78770,920
Provisions for liabilities(3,079)(3,079)
Net assets(895,414)(392,095)
Capital and reserves
Called up share capital100100
Profit and loss account(895,514)(392,195)
Shareholders' funds(895,414)(392,095)
The financial statements were approved and authorised for issue by the Director on 1 November 2023, and are signed on its behalf by:
AL-ANI, Hawazen Qais Daoud
Director
Registered Company No. 11261323
MISSION TRANSLATIONS LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the business during the period was the performance of translation and interpretation services
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.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 from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
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 profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year1212
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 2230,707
Additions2,070
At 31 March 2332,777
Depreciation and impairment
At 01 April 2214,500
Charge for year5,486
At 31 March 2319,986
Net book value
At 31 March 2312,791
At 31 March 2216,207
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables339,344347,938
Other debtors10,9866,329
Prepayments and accrued income-11,109
Total350,330365,376
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, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables408,475229,484
Taxation and social security777,137488,937
Other creditors322,696252,977
Total1,508,308971,398
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.