Mco Services Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 04020812 (England and Wales)
Mco Services Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
81,417
15,981
Cash at bank and in hand
21,753
64,838
103,170
80,819
Creditors: amounts falling due within one year
5
(33,303)
(11,433)
Net current assets
69,867
69,386
Capital and reserves
Called up share capital
6
1,000
1,000
Share premium account
196,764
196,764
Profit and loss reserves
(127,897)
(128,378)
Total equity
69,867
69,386

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
J Meyer
Director
Company Registration No. 04020812
MCo Services Limited
Mco Services Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

MCo Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 & 6 Kendrick Mews, London, SW7 3HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention, the principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the costs incurred. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.4
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

MCo Services Limited
Mco Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 3
3
Directors' remuneration
2023
2022
£
£
Remuneration paid to directors
52,000
65,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
61,317
13,681
Other debtors
20,100
2,300
81,417
15,981
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
324
586
Taxation and social security
16,831
4,767
Other creditors
988
280
Accruals and deferred income
15,160
5,800
33,303
11,433
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
7
Control

The company is under the control of J Meyer based on her shareholding.

MCo Services Limited
Mco Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
8
Related party transactions

During the year the following transactions arose between the company and related parties:

 

Included within other debtors is a balance of £6,800 (2022: £nil) owing from Q Meyer, a director of the company. This was fully repaid post year end.

 

The Meyer Family Trust LLC

Income of £44,333 (2022 - £43,217) was received from the The Meyer Family Trust LLC, a company registered in the USA connected to Q Meyer, in respect of administrative services provided, of which £40,453 (2022 - £6,542) was outstanding at the year end.

 

Lynn Holdings Limited

Income of £33,333 (2022 - £41,417) was received from Lynn Holdings Limited, a company registered in Jersey connected to Q Meyer, in respect of administrative services provided, of which £20,064 (2022 - £6,728) was outstanding at the year end. Rental charges of £5,376 (2022 - £6,510) and rates and services charges recharge of £2,279 (2022 - £2,952) was charged by Lynn Holdings Limited at an arms length basis, of which £20,064 (2022 - £6,727) was payable at year end.

 

T&J Meyer Family Foundation Limited

Income of £60,000 (2022 - £60,000) was received from T&J Meyer Family Foundation Limited, a trust registered in the UK in which J Meyer is a trustee, of which £171 (2022 - £224) was outstanding at the year end.

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