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COMPANY REGISTRATION NUMBER: 06130584
Makada Consulting Limited
Filleted Unaudited Financial Statements
31 March 2023
Makada Consulting Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Makada Consulting Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
950
1,268
Current assets
Debtors
6
319
216
Cash at bank and in hand
18,755
30,104
--------
--------
19,074
30,320
Creditors: amounts falling due within one year
7
13,665
13,794
--------
--------
Net current assets
5,409
16,526
-------
--------
Total assets less current liabilities
6,359
17,794
-------
--------
Net assets
6,359
17,794
-------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
6,358
17,793
-------
--------
Shareholders funds
6,359
17,794
-------
--------
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 year ending 31 March 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 year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Makada Consulting Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 1 March 2024 , and are signed on behalf of the board by:
R Chamber
Director
Company registration number: 06130584
Makada Consulting Limited
Notes to the Financial Statements
Year ended 31 March 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 Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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 of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% per annum on reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2022 and 31 March 2023
2,447
-------
Depreciation
At 1 April 2022
1,179
Charge for the year
318
-------
At 31 March 2023
1,497
-------
Carrying amount
At 31 March 2023
950
-------
At 31 March 2022
1,268
-------
6. Debtors
2023
2022
£
£
Other debtors
319
216
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
72
Social security and other taxes
9,362
10,968
Other creditors
4,303
2,754
--------
--------
13,665
13,794
--------
--------
8. Director's advances, credits and guarantees
During the year a total of £nil (2022 - £27,249) was advanced to the director. No interest has been charged on the amount advanced.
9. Related party transactions
At the end of the reporting period the company owed £4,063 (2022 - £2,751) to the director on her loan account with the company. No interest has been charged on this account.