MWFMT Limited 04592702 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of financial market training consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 04592702 2023-01-01 2023-12-31 04592702 2023-12-31 04592702 core:CurrentFinancialInstruments 2023-12-31 04592702 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04592702 core:Non-currentFinancialInstruments 2023-12-31 04592702 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04592702 core:FurnitureFittings 2023-12-31 04592702 core:OfficeEquipment 2023-12-31 04592702 bus:SmallEntities 2023-01-01 2023-12-31 04592702 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04592702 bus:FilletedAccounts 2023-01-01 2023-12-31 04592702 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04592702 bus:RegisteredOffice 2023-01-01 2023-12-31 04592702 bus:CompanySecretary1 2023-01-01 2023-12-31 04592702 bus:Director2 2023-01-01 2023-12-31 04592702 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04592702 bus:Agent1 2023-01-01 2023-12-31 04592702 core:FurnitureFittings 2023-01-01 2023-12-31 04592702 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04592702 core:OfficeEquipment 2023-01-01 2023-12-31 04592702 countries:AllCountries 2023-01-01 2023-12-31 04592702 2022-12-31 04592702 core:FurnitureFittings 2022-12-31 04592702 core:OfficeEquipment 2022-12-31 04592702 2022-01-01 2022-12-31 04592702 2022-12-31 04592702 core:CurrentFinancialInstruments 2022-12-31 04592702 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04592702 core:Non-currentFinancialInstruments 2022-12-31 04592702 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04592702 core:FurnitureFittings 2022-12-31 04592702 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04592702

MWFMT Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

image-name
 

MWFMT Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

MWFMT Limited

Company Information

Director

Mr M Williams

Company secretary

Mr MJ Emery

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MWFMT Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MWFMT Limited for the year ended 31 December 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of MWFMT Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of MWFMT Limited and state those matters that we have agreed to state to the Board of Directors of MWFMT Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MWFMT Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MWFMT Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of MWFMT Limited. You consider that MWFMT Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MWFMT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

25 September 2024

 

MWFMT Limited

(Registration number: 04592702)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

147

773

Current assets

 

Debtors

5

2,221

-

Cash at bank and in hand

 

60,096

123,533

 

62,317

123,533

Creditors: Amounts falling due within one year

6

(5,467)

(37,109)

Net current assets

 

56,850

86,424

Total assets less current liabilities

 

56,997

87,197

Creditors: Amounts falling due after more than one year

6

(14,213)

(16,318)

Provisions for liabilities

(28)

(147)

Net assets

 

42,756

70,732

Capital and reserves

 

Called up share capital

1

1

Retained earnings

42,755

70,731

Shareholders' funds

 

42,756

70,732

 

MWFMT Limited

(Registration number: 04592702)
Balance Sheet as at 31 December 2023

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

.........................................
Mr M Williams
Director

 

MWFMT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, Registration number 04592702.

The address of its registered office is:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the director on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

MWFMT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% at cost

Fixtures and fittings

20% at cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

MWFMT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

MWFMT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

299

9,669

9,968

At 31 December 2023

299

9,669

9,968

Depreciation

At 1 January 2023

299

8,896

9,195

Charge for the year

-

626

626

At 31 December 2023

299

9,522

9,821

Carrying amount

At 31 December 2023

-

147

147

At 31 December 2022

-

773

773

5

Debtors

Current

2023
£

2022
£

Corporation tax debtor

2,221

-

 

2,221

-

 

MWFMT Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

2,625

3,145

Trade creditors

 

246

122

Accruals

 

1,242

1,158

Directors loan account

 

1,330

22,751

PAYE and NIC creditor

 

24

-

VAT Control account

 

-

434

Corporation tax control

 

-

9,499

 

5,467

37,109

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

14,213

16,318

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

14,213

16,318

Current loans and borrowings

2023
£

2022
£

Bank borrowings

2,625

3,145