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REGISTERED NUMBER: 10751608 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

MC GROUP-UK LIMITED

MC GROUP-UK LIMITED (REGISTERED NUMBER: 10751608)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MC GROUP-UK LIMITED (REGISTERED NUMBER: 10751608)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,031 1,374
Investments 5 6,000 6,000
7,031 7,374

CURRENT ASSETS
Debtors 6 1,702,675 1,639,161
Cash at bank and in hand 1,004 83,744
1,703,679 1,722,905
CREDITORS
Amounts falling due within one year 7 1,394,516 1,410,154
NET CURRENT ASSETS 309,163 312,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,194

320,125

CREDITORS
Amounts falling due after more than one
year

8

315,855

316,399
NET ASSETS 339 3,726

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (661 ) 2,726
339 3,726

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:



N Chande - Director


MC GROUP-UK LIMITED (REGISTERED NUMBER: 10751608)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

MC Group-UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10751608

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances
indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% reducing balance

The company has adopted the policy to not depreciate in the year of acquisition but to provide full depreciation in the year of disposal.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


MC GROUP-UK LIMITED (REGISTERED NUMBER: 10751608)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 30 September 2023 4,650
DEPRECIATION
At 1 October 2022 3,276
Charge for year 343
At 30 September 2023 3,619
NET BOOK VALUE
At 30 September 2023 1,031
At 30 September 2022 1,374

MC GROUP-UK LIMITED (REGISTERED NUMBER: 10751608)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 6,000
NET BOOK VALUE
At 30 September 2023 6,000
At 30 September 2022 6,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,702,675 1,639,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,100 25,100
Trade creditors 300 -
Amounts owed to group undertakings 1,364,202 1,382,556
Other creditors 4,914 2,498
1,394,516 1,410,154

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 315,855 316,399

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 340,955 341,499

The bank loan is secured by cross guarantee and debenture between the group and its subsidiaries, directors guarantee and security over properties owned by the directors.

10. RELATED PARTY DISCLOSURES

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.