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COMPANY REGISTRATION NUMBER: 14472740
Monnow Programming Services Ltd
Filleted Unaudited Financial Statements
30 November 2023
Monnow Programming Services Ltd
Statement of Financial Position
30 November 2023
30 Nov 23
Note
£
Fixed assets
Tangible assets
5
778
Current assets
Debtors
6
3,560
Cash at bank and in hand
9,429
--------
12,989
Creditors: amounts falling due within one year
7
8,367
--------
Net current assets
4,622
-------
Total assets less current liabilities
5,400
-------
Capital and reserves
Called up share capital
1
Profit and loss account
5,399
-------
Shareholders funds
5,400
-------
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 period ending 30 November 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 members have not required the company to obtain an audit of its financial statements for the period 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 2 February 2024 , and are signed on behalf of the board by:
Mr D L Williams
Director
Company registration number: 14472740
Monnow Programming Services Ltd
Notes to the Financial Statements
Period from 9 November 2022 to 30 November 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 24 Bridge Street, Newport, NP20 4SF, Wales.
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. The financial statements are prepared in sterling, which is the functional currency of the entity, and the figures therein are rounded to the nearest whole pound. The principal activity of the company during the year was management consultancy services.
Going concern
The Director considers that the company remains a going concern having regard to the financial support provided and future predicted cash flow and profitability.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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:
Plant and machinery
-
33% p.a. straight line
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Plant and machinery
£
Cost
At 9 November 2022
Additions
1,167
-------
At 30 November 2023
1,167
-------
Depreciation
At 9 November 2022
Charge for the period
389
-------
At 30 November 2023
389
-------
Carrying amount
At 30 November 2023
778
-------
6. Debtors
30 Nov 23
£
Trade debtors
2,550
Other debtors
1,010
-------
3,560
-------
7. Creditors: amounts falling due within one year
30 Nov 23
£
Corporation tax
7,142
Social security and other taxes
165
Other creditors
1,060
-------
8,367
-------
8. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
30 Nov 23
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr D L Williams
( 1,060)
( 1,060)
----
-------
-------
9. Related party transactions
The company was under the control of D Williams throughout the period. D Williams is the managing director and majority shareholder.