Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31trueNo description of principal activity2022-06-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05851293 2022-06-01 2023-05-31 05851293 2021-06-01 2022-05-31 05851293 2023-05-31 05851293 2022-05-31 05851293 c:Director1 2022-06-01 2023-05-31 05851293 d:Buildings 2022-06-01 2023-05-31 05851293 d:Buildings 2023-05-31 05851293 d:Buildings 2022-05-31 05851293 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05851293 d:MotorVehicles 2022-06-01 2023-05-31 05851293 d:MotorVehicles 2023-05-31 05851293 d:MotorVehicles 2022-05-31 05851293 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05851293 d:OfficeEquipment 2022-06-01 2023-05-31 05851293 d:OfficeEquipment 2023-05-31 05851293 d:OfficeEquipment 2022-05-31 05851293 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05851293 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05851293 d:CurrentFinancialInstruments 2023-05-31 05851293 d:CurrentFinancialInstruments 2022-05-31 05851293 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05851293 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 05851293 d:ShareCapital 2023-05-31 05851293 d:ShareCapital 2022-05-31 05851293 d:RetainedEarningsAccumulatedLosses 2023-05-31 05851293 d:RetainedEarningsAccumulatedLosses 2022-05-31 05851293 c:FRS102 2022-06-01 2023-05-31 05851293 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05851293 c:FullAccounts 2022-06-01 2023-05-31 05851293 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 05851293









MB ASSURED CONSULTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
MB ASSURED CONSULTING LIMITED
REGISTERED NUMBER: 05851293

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
                                                                         Note
£
£

Fixed assets
  

Tangible assets
 4 
57,433
44,150

Current assets
  

Debtors
 5 
336,149
224,113

Cash at bank and in hand
  
31,505
5,316

  
367,654
229,429

Creditors: amounts falling due within one year
 6 
(104,103)
(60,604)

Net current assets
  
 
 
263,551
 
 
168,825

Total assets less current liabilities
  
320,984
212,975

  

Net assets
  
320,984
212,975


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
320,974
212,965

  
320,984
212,975


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
MB ASSURED CONSULTING LIMITED
REGISTERED NUMBER: 05851293
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 February 2024.




O A Awoyemi
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MB ASSURED CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

MB Assured Consulting Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company's financial statements have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MB ASSURED CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Freehold property
-
Motor vehicles
-
10%
straight line
Office equipment
-
25%
reducing balance

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.

.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
MB ASSURED CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
MB ASSURED CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Leasehold improvements
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
12,553
42,090
8,447
63,090


Additions
-
56,090
1,274
57,364


Disposals
-
(42,090)
-
(42,090)



At 31 May 2023

12,553
56,090
9,721
78,364



Depreciation


At 1 June 2022
12,553
3,157
3,230
18,940


Charge for the year on owned assets
-
5,142
1,409
6,551


Disposals
-
(4,560)
-
(4,560)



At 31 May 2023

12,553
3,739
4,639
20,931



Net book value



At 31 May 2023
-
52,351
5,082
57,433



At 31 May 2022
-
38,933
5,217
44,150


5.


Debtors

2023
2022
£
£


Trade debtors
35,507
780

Amounts owed by connected entities
300,476
223,167

Other debtors
166
166

336,149
224,113


Page 6

 
MB ASSURED CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
260
900

Corporation tax
23,902
11,255

Other taxation and social security
7,899
894

Other creditors
68,742
44,255

Accruals and deferred income
3,300
3,300

104,103
60,604



7.


Related party transactions

At the year end, the Company owed the director £68,742 (2022 - £44,255).

 
Page 7