REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 May 2023 |
for |
MA Cost Consulting Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 May 2023 |
for |
MA Cost Consulting Limited |
MA Cost Consulting Limited (Registered number: 06901841) |
Contents of the Financial Statements |
for the Year Ended 30 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MA Cost Consulting Limited |
Company Information |
for the Year Ended 30 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
1 Rushmills |
Northampton |
NN4 7YB |
MA Cost Consulting Limited (Registered number: 06901841) |
Balance Sheet |
30 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MA Cost Consulting Limited (Registered number: 06901841) |
Notes to the Financial Statements |
for the Year Ended 30 May 2023 |
1. | STATUTORY INFORMATION |
MA Cost Consulting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from this standard. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The main estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are in relation to the bad debt and credit note provisions. These require management's best estimate of the amounts which may not be recoverable, based on their knowledge of the customer base and relationship. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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. |
MA Cost Consulting Limited (Registered number: 06901841) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 31 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 May 2023 |
DEPRECIATION |
At 31 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 May 2023 |
NET BOOK VALUE |
At 30 May 2023 |
At 30 May 2022 |
5. | FIXED ASSET INVESTMENTS |
The company owns 100% of the equity share capital of MAC Project Management Limited (2022: 0%). The address of the registered office of MAC Project Management Limited is Bell House, Seebeck Place, Milton Keynes, MK5 8FR. |
The company owns 100% of the equity share capital of MAC Construction Consultants Limited (2022: 0%). The address of the registered office of MAC Construction Consultants Limited is Bell House, Seebeck Place, Milton Keynes, MK5 8FR. |
The company owns 100% of the equity share capital of MAC Design Consultancy Services Limited (2022: 0%). The address of the registered office of MAC Design Consultancy Services Limited is Bell House, Seebeck Place, Milton Keynes, MK5 8FR. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Deferred tax asset |
Prepayments |
MA Cost Consulting Limited (Registered number: 06901841) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 315,339 | 256,540 |
Other creditors |
Directors' current accounts | 1,529 | 1,529 |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,100 | 1,100 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 May 2023 and 30 May 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
MA Cost Consulting Limited (Registered number: 06901841) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2023 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
The loans are interest free and repayable on demand. |
Mr A Nunn and Mr G Witheat have also given personal guarantees to the company's bankers totalling £20,300. |
12. | ULTIMATE CONTROLLING PARTY |
MAC CC Group Limited is the immediate parent. The ultimate controlling party is deemed to be the directors of MAC CC Group Limited and the MAC Employee Benefit Trust by virtue of their shareholding. |