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COMPANY REGISTRATION NUMBER: 07177258
Make My Day Publishing Limited
Filleted Unaudited Financial Statements
31 October 2023
Make My Day Publishing Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Make My Day Publishing Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
32,643
59,108
Cash at bank and in hand
33,489
168
--------
--------
66,132
59,276
Creditors: amounts falling due within one year
6
39,620
45,153
--------
--------
Net current assets
26,512
14,123
--------
--------
Total assets less current liabilities
26,512
14,123
Creditors: amounts falling due after more than one year
7
5,247
6,112
--------
--------
Net assets
21,265
8,011
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
21,165
7,911
--------
-------
Shareholders funds
21,265
8,011
--------
-------
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 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Make My Day Publishing Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mr J M John
Director
Company registration number: 07177258
Make My Day Publishing Limited
Notes to the Financial Statements
Year ended 31 October 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 82 Unit A, 82 James Carter Road, Mildenhall, Bury St. Edmunds, IP28 7DE, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2).
5. Debtors
2023
2022
£
£
Trade debtors
21,123
Amounts owed by group undertakings and undertakings in which the company has a participating interest
11,694
37,339
Other debtors
20,949
646
--------
--------
32,643
59,108
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
865
844
Trade creditors
38
443
Amounts owed to group undertakings and undertakings in which the company has a participating interest
31,213
32,540
Corporation tax
7,504
3,276
Other creditors
8,050
--------
--------
39,620
45,153
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,247
6,112
-------
-------
8. Directors' advances, credits and guarantees
At the year end, the Directors owed £4,650 (2022: The Directors was owed £8,050) to the company. During the year advances of £28,700 were made to the Directors and repayments of £16,000 made by the Directors. This was repaid post year end.
9. Related party transactions
At the year end, the company was owed £11,694 (2022: £37,339) from a company associated by common control. At the year end, the company owed £31,213 (2022: £32,540) to a company associated by common control.