10 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04084490 2023-02-01 2024-01-31 04084490 2024-01-31 04084490 2023-01-31 04084490 2022-02-01 2023-01-31 04084490 2023-01-31 04084490 2022-01-31 04084490 core:PlantMachinery 2023-02-01 2024-01-31 04084490 core:FurnitureFittings 2023-02-01 2024-01-31 04084490 core:MotorVehicles 2023-02-01 2024-01-31 04084490 bus:RegisteredOffice 2023-02-01 2024-01-31 04084490 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 04084490 bus:Director1 2023-02-01 2024-01-31 04084490 bus:Director2 2023-02-01 2024-01-31 04084490 core:PlantMachinery 2023-01-31 04084490 core:FurnitureFittings 2023-01-31 04084490 core:MotorVehicles 2023-01-31 04084490 core:PlantMachinery 2024-01-31 04084490 core:FurnitureFittings 2024-01-31 04084490 core:MotorVehicles 2024-01-31 04084490 core:WithinOneYear 2024-01-31 04084490 core:WithinOneYear 2023-01-31 04084490 core:AfterOneYear 2024-01-31 04084490 core:ShareCapital 2024-01-31 04084490 core:ShareCapital 2023-01-31 04084490 core:RetainedEarningsAccumulatedLosses 2024-01-31 04084490 core:RetainedEarningsAccumulatedLosses 2023-01-31 04084490 core:PlantMachinery 2023-01-31 04084490 core:FurnitureFittings 2023-01-31 04084490 core:MotorVehicles 2023-01-31 04084490 bus:SmallEntities 2023-02-01 2024-01-31 04084490 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04084490 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04084490 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04084490 bus:FullAccounts 2023-02-01 2024-01-31 04084490 core:ComputerEquipment 2023-02-01 2024-01-31 04084490 core:ComputerEquipment 2023-01-31 04084490 core:ComputerEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 04084490
Mission Corporation (UK) Limited
Filleted Unaudited Financial Statements
31 January 2024
Mission Corporation (UK) Limited
Financial Statements
Year ended 31 January 2024
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Mission Corporation (UK) Limited
Officers and Professional Advisers
The board of directors Mr D Miller
- Director
Mrs J Miller
- Director
Registered office
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Mission Corporation (UK) Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
54,243
37,521
Current assets
Stocks
173,157
188,723
Debtors
6
624,914
632,033
Cash at bank and in hand
75,545
1,228,022
---------
------------
873,616
2,048,778
Creditors: amounts falling due within one year
7
131,957
217,053
---------
------------
Net current assets
741,659
1,831,725
---------
------------
Total assets less current liabilities
795,902
1,869,246
Creditors: amounts falling due after more than one year
8
17,393
Provisions
10,306
7,129
---------
------------
Net assets
768,203
1,862,117
---------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
768,201
1,862,115
---------
------------
Shareholders funds
768,203
1,862,117
---------
------------
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 January 2024 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 .
Mission Corporation (UK) Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 17 July 2024 , and are signed on behalf of the board by:
Mr D Miller
Director
Company registration number: 04084490
Mission Corporation (UK) Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alexandra House, 123 Priestsic Road, Sutton-in-Ashfield, Nottinghamshire, NG17 4EA.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
33% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
The company only enters into basic financial instruments 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.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 1 February 2023
17,709
28,697
60,903
25,952
133,261
Additions
32,670
32,670
--------
--------
--------
--------
---------
At 31 January 2024
17,709
28,697
93,573
25,952
165,931
--------
--------
--------
--------
---------
Depreciation
At 1 February 2023
6,786
26,937
38,041
23,976
95,740
Charge for the year
1,639
2,194
11,161
954
15,948
--------
--------
--------
--------
---------
At 31 January 2024
8,425
29,131
49,202
24,930
111,688
--------
--------
--------
--------
---------
Carrying amount
At 31 January 2024
9,284
( 434)
44,371
1,022
54,243
--------
--------
--------
--------
---------
At 31 January 2023
10,923
1,760
22,862
1,976
37,521
--------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
106,675
145,348
Other debtors
518,239
486,685
---------
---------
624,914
632,033
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
73,098
154,276
Corporation tax
3,132
8,092
Social security and other taxes
19,076
14,520
Other creditors
36,651
40,165
---------
---------
131,957
217,053
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
17,393
--------
----
9. Directors' advances, credits and guarantees
At the balance sheet date, the directors were owed £12,527 (2022: £24,667) by the company