MPOWER PLUS UK LTD

Company Registration Number:
07685639 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

MPOWER PLUS UK LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Notes

MPOWER PLUS UK LTD

Balance sheet

As at 30 November 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,302 2,302
Total fixed assets: 2,302 2,302
Current assets
Debtors:   6,366,467 6,126,701
Cash at bank and in hand: 316,435 358,681
Total current assets: 6,682,902 6,485,382
Creditors: amounts falling due within one year:   (1,802,528) (2,016,506)
Net current assets (liabilities): 4,880,374 4,468,876
Total assets less current liabilities: 4,882,676 4,471,178
Creditors: amounts falling due after more than one year:   (662,334) (724,315)
Total net assets (liabilities): 4,220,342 3,746,863
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 4,220,242 3,746,763
Shareholders funds: 4,220,342 3,746,863

The notes form part of these financial statements

MPOWER PLUS UK LTD

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 August 2024
and signed on behalf of the board by:

Name: Avirup Chakraverty
Status: Director

The notes form part of these financial statements

MPOWER PLUS UK LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods arc delivered and legal title has passed. Turnover represents amounts receivable for goods and services net of VAT and trade discount.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses.Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives. Office equipment 25% Straight Line

Valuation and information policy

Transactions in foreign currencies other than the functional currency of the company arerecorded at the rate of exchange on the date the transaction occurred. Monetary assets andliabilities in foreign currencies are translated at the rates prevailing at the end of the reporting period. All differences arc taken to the profit and loss account. Non-monetary items measured at historic cost in a foreign currency are recorded at that historic value.

Other accounting policies

Deferred taxation Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in thecompany's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more ( or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered. Research and development expenditure on research is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life. Leases and hire purchase contracts Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and theiruseful economic lives. finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor arc charged to the profit and loss account on a straight line basis over the lease term. Pensions The company operates a defined contribution pension scheme, with contributions charged to the profit and loss account for the year in which they are payable to the scheme

MPOWER PLUS UK LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

2. Employees

2023 2022
Average number of employees during the period 34 38

MPOWER PLUS UK LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible Assets

Total
Cost £
At 01 December 2022 17,506
Additions 560
At 30 November 2023 18,066
Depreciation
At 01 December 2022 15,204
Charge for year 560
At 30 November 2023 15,764
Net book value
At 30 November 2023 2,302
At 30 November 2022 2,302