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Logo On Report
Registered Number: 06011386
England and Wales

 

 

 

MP CONTROLS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of MP Controls Limited for the year ended 29 February 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of MP Controls Limited, as a body, in accordance with the terms of our engagement letter dated 03 January 2017. Our work has been undertaken solely to prepare for your approval the accounts of MP Controls Limited and state those matters that we have agreed to state to the Board of MP Controls Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MP Controls Limited and its members as a body for our work or for this report.

It is your duty to ensure that MP Controls 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 Profit of MP Controls Limited. You consider that MP Controls 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 MP Controls 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.


SJW ACCOUNTANTS
Chartered Certified Accountants Casterton Suite, CHBC
Burton in Kendal
Carnforth
Lancashire
LA6 1NU
15 May 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 4,289    916 
4,289    916 
Current assets      
Stocks 7,739    1,871 
Debtors: amounts falling due within one year 2,756    10,039 
Cash at bank and in hand 21,547    42,205 
32,042    54,115 
Creditors: amount falling due within one year (6,800)   (10,641)
Net current assets 25,242    43,474 
 
Total assets less current liabilities 29,531    44,390 
Provisions for liabilities (1,029)   (174)
Net assets 28,502    44,216 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 28,402    44,116 
Shareholder's funds 28,502    44,216 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 15 May 2024 and were signed by:


-------------------------------
Martin Peers
Director
2
General Information
MP Controls Limited is a private company, limited by shares, registered in England and Wales, registration number 06011386, registration address Peel Oak, New Barnes Road, Arnside, Carnforth, Lancs, LA5 0BB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 Years Straight Line
Fixtures and Fittings 8 Years Straight Line
Inventory
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 0 (2023 : 0).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 March 2023 1,654    1,654 
Additions  
Disposals  
At 29 February 2024 1,654    1,654 
Amortisation
At 01 March 2023 1,654    1,654 
Charge for year  
On disposals  
At 29 February 2024 1,654    1,654 
Net book values
At 29 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2023 929    5,384    6,313 
Additions   3,934    3,934 
Disposals   (599)   (599)
At 29 February 2024 929    8,719    9,648 
Depreciation
At 01 March 2023 929    4,468    5,397 
Charge for year   177    177 
On disposals   (215)   (215)
At 29 February 2024 929    4,430    5,359 
Net book values
Closing balance as at 29 February 2024   4,289    4,289 
Opening balance as at 01 March 2023   916    916 


5.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3