Duns MX Ltd 12014472 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Motocross Digita Accounts Production Advanced 6.30.9574.0 true 12014472 2022-06-01 2023-05-31 12014472 2023-05-31 12014472 bus:OrdinaryShareClass1 2023-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2023-05-31 12014472 core:ShareCapital 2023-05-31 12014472 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12014472 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 12014472 core:FurnitureFittingsToolsEquipment 2023-05-31 12014472 bus:SmallEntities 2022-06-01 2023-05-31 12014472 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12014472 bus:AbridgedAccounts 2022-06-01 2023-05-31 12014472 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 12014472 bus:RegisteredOffice 2022-06-01 2023-05-31 12014472 bus:Director1 2022-06-01 2023-05-31 12014472 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 12014472 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12014472 bus:Agent1 2022-06-01 2023-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 12014472 core:ShareCapital 2022-06-01 2023-05-31 12014472 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 12014472 countries:England 2022-06-01 2023-05-31 12014472 2022-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2022-05-31 12014472 core:ShareCapital 2022-05-31 12014472 core:FurnitureFittingsToolsEquipment 2022-05-31 12014472 2021-06-01 2022-05-31 12014472 2022-05-31 12014472 bus:OrdinaryShareClass1 2022-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2022-05-31 12014472 core:ShareCapital 2022-05-31 12014472 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 12014472 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 12014472 core:FurnitureFittingsToolsEquipment 2022-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 12014472 core:ShareCapital 2021-06-01 2022-05-31 12014472 2021-05-31 12014472 core:RetainedEarningsAccumulatedLosses 2021-05-31 12014472 core:ShareCapital 2021-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12014472

Duns MX Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

Duns MX Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 11

 

Duns MX Ltd

Company Information

Director

Mr Craig Hall

Registered office

Gill Forge
Ellonby
Cumbria
CA11 9SJ

Accountants

SM Accountancy
Chartered Certified
Gill Forge
Ellonby
Cumbria
CA11 9SJ

 

Duns MX Ltd

Director's Report for the Year Ended 31 May 2023

The director presents his report and the abridged financial statements for the year ended 31 May 2023.

Director of the company

The director who held office during the year was as follows:

Mr Craig Hall

Principal activity

The principal activity of the company is Motocross

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 February 2024
 

.........................................
Mr Craig Hall
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Duns MX Ltd
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Duns MX Ltd for the year ended 31 May 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Duns MX Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Duns MX Ltd and state those matters that we have agreed to state to the Board of Directors of Duns MX Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duns MX Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Duns MX Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Duns MX Ltd. You consider that Duns MX Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Duns MX Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SM Accountancy
Chartered Certified
Gill Forge
Ellonby
Cumbria
CA11 9SJ

20 February 2024

 

Duns MX Ltd

Abridged Profit and Loss Account for the Year Ended 31 May 2023

Note

2023
£

2022
£

Gross profit

 

20,172

16,461

Administrative expenses

 

(14,853)

(13,507)

Interest payable and similar expenses

 

(160)

-

Profit before tax

4

5,159

2,954

Profit for the financial year

 

5,159

2,954

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Duns MX Ltd

Statement of Comprehensive Income for the Year Ended 31 May 2023

2023
£

2022
£

Profit for the year

5,159

2,954

Total comprehensive income for the year

5,159

2,954

 

Duns MX Ltd

(Registration number: 12014472)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

46,125

5,500

Current assets

 

Cash at bank and in hand

 

2,497

7,379

Creditors: Amounts falling due within one year

(30,048)

(8,568)

Net current liabilities

 

(27,551)

(1,189)

Total assets less current liabilities

 

18,574

4,311

Creditors: Amounts falling due after more than one year

(17,604)

-

Net assets

 

970

4,311

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

969

4,310

Shareholders' funds

 

970

4,311

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 20 February 2024
 

.........................................
Mr Craig Hall
Director

 

Duns MX Ltd

Statement of Changes in Equity for the Year Ended 31 May 2023

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

1

4,310

4,311

Profit for the year

-

5,159

5,159

Dividends

-

(8,500)

(8,500)

At 31 May 2023

1

969

970

Share capital
£

Retained earnings
£

Total
£

At 1 June 2021

1

1,356

1,357

Profit for the year

-

2,954

2,954

At 31 May 2022

1

4,310

4,311

 

Duns MX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Gill Forge
Ellonby
Cumbria
CA11 9SJ

These financial statements were authorised for issue by the director on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Duns MX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Duns MX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,375

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

5,500

5,500

Additions

42,000

42,000

At 31 May 2023

47,500

47,500

Depreciation

Charge for the year

1,375

1,375

At 31 May 2023

1,375

1,375

Carrying amount

At 31 May 2023

46,125

46,125

At 31 May 2022

5,500

5,500

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Duns MX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Dividends

   

2023

 

2022

   

£

 

£