Registration number:
MRL Strategic Consultancy Limited
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MRL Strategic Consultancy Limited
Statement of Financial Position as at 31 March 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
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Retained earnings |
451,043 |
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Shareholders' funds |
451,045 |
For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
MRL Strategic Consultancy Limited
Statement of Financial Position as at 31 March 2024
Approved and authorised by the
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M R Layton
Director
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E-M Layton
Director
Company registration number: 14584463
MRL Strategic Consultancy Limited
Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 March 2024
General information |
The address of its registered office is:
The principal activity of the company is that of the provision of management consultancy.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company made a profit for the period ended 31 March 2024 and had net assets of £451,045 at that date. The company continues to trade profitably and the directors do not believe the company will be affected by current economic conditions.
On the basis of the above and having made enquires the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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 from consultancy services evenly over the period in which the services were provided.
MRL Strategic Consultancy Limited
Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 March 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
3 year straight line |
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.
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.
Staff numbers |
The average number of persons employed by the company during the period, was
MRL Strategic Consultancy Limited
Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 March 2024
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2024 |
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Depreciation |
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Charge for the period |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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Debtors |
2024 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Transactions with directors |
At 31 March 2024 an amount of £Nil was due from the directors. During the year advances and repayments of £1,107 were made. No interest was charged and there are no terms in place.