REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 July 2023 |
for |
Misoft Marketing Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 July 2023 |
for |
Misoft Marketing Limited |
Misoft Marketing Limited (Registered number: 08535130) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Misoft Marketing Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants and |
Statutory Auditor |
Leofric House |
Binley Road |
Coventry |
CV3 1JN |
Misoft Marketing Limited (Registered number: 08535130) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Misoft Marketing Limited (Registered number: 08535130) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Misoft Marketing Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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. |
Misoft Marketing Limited (Registered number: 08535130) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade creditors | 10,783 | 3,968 |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Pension control | 1,023 | 403 |
VAT | 12,468 | 5,788 |
Accrued expenses |
Misoft Marketing Limited (Registered number: 08535130) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.7.23 | 31.7.22 |
£ | £ |
Within one year |
Between one and five years |
8. | PROVISIONS FOR LIABILITIES |
31.7.23 | 31.7.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Charge to Statement of Income and Retained Earnings during year |
Balance at 31 July 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
Ordinary | £1.00 | 1 | 1 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
In accordance with FRS 102 Section 1A, the company only discloses transactions with related parties, including group companies, where they are not undertaken under normal market conditions. |
Other Debtors includes £5,000 (2022: £5,000) owed by Maxstone Residential Property Limited, a company controlled by R Gow, the director. The loan is interest-free and repayable on demand. |
12. | AUDITOR LIABILITY LIMITATION AGREEMENT |
Auditors liability is limited to a maximum of twenty five times the fee relating to the audit engagement. |
The directors approved the agreement on 14th July 2023. |
Misoft Marketing Limited (Registered number: 08535130) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the period by R Gow by virtue of her shareholding in the issued ordinary share capital of the ultimate parent company, ITUS Group Limited. |
The registered office of ITUS Group Limited is Leofric House, Binley Road, Coventry, West Midlands, England, CV3 1JN. |