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REGISTERED NUMBER: 12197941 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MFM-CLOUD LIMITED

MFM-CLOUD LIMITED (REGISTERED NUMBER: 12197941)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


MFM-CLOUD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr R F Eagles
Mr S M Colley





REGISTERED OFFICE: Knarsboro House
Bradley Road
Stourbridge
West Midlands
DY8 1XB





REGISTERED NUMBER: 12197941 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MFM-CLOUD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MFM-Cloud Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that MFM-Cloud Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MFM-Cloud Limited. You consider that MFM-Cloud 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 financial statements of MFM-Cloud 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 financial statements.






E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


4 October 2024

MFM-CLOUD LIMITED (REGISTERED NUMBER: 12197941)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 353,012 9,857
Investments 5 11,575 9,134
364,587 18,991

CURRENT ASSETS
Debtors 6 7,610 124,059
Cash at bank and in hand 26,018 3,634
33,628 127,693
CREDITORS
Amounts falling due within one year 7 284,309 38,343
NET CURRENT (LIABILITIES)/ASSETS (250,681 ) 89,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,906

108,341

CREDITORS
Amounts falling due after more than one
year

8

(21,997

)

(32,503

)

PROVISIONS FOR LIABILITIES (1,644 ) (2,464 )
NET ASSETS 90,265 73,374

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 90,263 73,372
SHAREHOLDERS' FUNDS 90,265 73,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 4 October 2024 and were signed on its behalf by:



Mr R F Eagles - Director


MFM-CLOUD LIMITED (REGISTERED NUMBER: 12197941)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

MFM-Cloud Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Computer equipment - 33% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Investments are accounted for under the revaluation model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MFM-CLOUD LIMITED (REGISTERED NUMBER: 12197941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 February 2023 - 22,163 22,163
Additions 348,178 - 348,178
At 31 January 2024 348,178 22,163 370,341
DEPRECIATION
At 1 February 2023 - 12,306 12,306
Charge for year 1,740 3,283 5,023
At 31 January 2024 1,740 15,589 17,329
NET BOOK VALUE
At 31 January 2024 346,438 6,574 353,012
At 31 January 2023 - 9,857 9,857

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1 February 2023 9,134
Revaluations 2,441
At 31 January 2024 11,575
NET BOOK VALUE
At 31 January 2024 11,575
At 31 January 2023 9,134

Cost or valuation at 31 January 2024 is represented by:

Unlisted
investments
£   
Valuation in 2023 (84,966 )
Valuation in 2024 2,441
Cost 94,100
11,575

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 94,100 94,100

Fixed asset investments were valued on an open market basis on 31 January 2024 by the directors .

MFM-CLOUD LIMITED (REGISTERED NUMBER: 12197941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,022 120,032
Other debtors 4,588 4,027
7,610 124,059

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 244,665 9,722
Trade creditors 1,195 841
Taxation and social security 37,549 26,960
Other creditors 900 820
284,309 38,343

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,997 32,503

9. SECURED DEBTS

Interbay Funding, Ltd holds a fixed and floating charge over the freehold property of the company.

10. RELATED PARTY DISCLOSURES

During the year the company charged MFM-IT Limited £203,000 (2023: £100,000) for services provided. MFM-IT Limited is under the control of Mr R F Eagles, a director in the company. At the year end date the company is owed £Nil (2023: £120,000) in respect of these transactions and owed £4,027 (2023: £4,027) in respect of other borrowings.