Company Registration No. 05270467 (England and Wales)
M.C.S. DATA NETWORKS LIMITED
Unaudited accounts
for the year ended 31 March 2024
M.C.S. DATA NETWORKS LIMITED
Unaudited accounts
Contents
M.C.S. DATA NETWORKS LIMITED
Company Information
for the year ended 31 March 2024
Directors
Laura Carr
Sam Smith
Company Number
05270467 (England and Wales)
Registered Office
144 OVERWOODS ROAD, HOCKLEY
TAMWORTH
STAFFORDSHIRE
B77 5NF
M.C.S. DATA NETWORKS LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
59,205
57,474
Cash at bank and in hand
10,955
29,781
Creditors: amounts falling due within one year
(168,173)
(168,405)
Net current assets
165,170
184,464
Total assets less current liabilities
224,375
241,938
Creditors: amounts falling due after more than one year
(85,869)
(92,078)
Provisions for liabilities
Deferred tax
(11,249)
(10,920)
Net assets
127,257
138,940
Called up share capital
100
100
Profit and loss account
127,157
138,840
Shareholders' funds
127,257
138,940
For the year ending 31 March 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by
Laura Carr
Director
Company Registration No. 05270467
M.C.S. DATA NETWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
M.C.S. DATA NETWORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05270467. The registered office is 144 OVERWOODS ROAD, HOCKLEY, TAMWORTH, STAFFORDSHIRE, B77 5NF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33.3% straight line
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 the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company received Coronavirus Job Retention Scheme government grants during the year ended 31 March 2021. These grants are recognised at fair value when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model.
M.C.S. DATA NETWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
2,538
127,573
21,311
1,665
153,087
Additions
-
25,000
-
-
25,000
Disposals
-
(21,995)
-
-
(21,995)
At 31 March 2024
2,538
130,578
21,311
1,665
156,092
At 1 April 2023
2,538
70,801
20,609
1,665
95,613
Charge for the year
-
22,567
702
-
23,269
On disposals
-
(21,995)
-
-
(21,995)
At 31 March 2024
2,538
71,373
21,311
1,665
96,887
At 31 March 2024
-
59,205
-
-
59,205
At 31 March 2023
-
56,772
702
-
57,474
Amounts falling due within one year
Trade debtors
255,228
252,028
Amounts due from group undertakings etc.
67,160
71,060
M.C.S. DATA NETWORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,420
6,420
Obligations under finance leases and hire purchase contracts
21,741
16,313
Trade creditors
98,480
60,812
Taxes and social security
14,627
69,049
Other creditors
25,105
14,011
Hire purchase liabilities are secured over the asset to which they relate.
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
57,528
57,757
8
Average number of employees
During the year the average number of employees was 12 (2023: 9).