Managed Procurement Solutions Limited 06859886 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of wholesalers of fish products Digita Accounts Production Advanced 6.30.9574.0 true true 06859886 2023-04-01 2024-03-31 06859886 2024-03-31 06859886 bus:OrdinaryShareClass1 2024-03-31 06859886 bus:PreferenceShareClass1 2024-03-31 06859886 core:RetainedEarningsAccumulatedLosses 2024-03-31 06859886 core:ShareCapital 2024-03-31 06859886 core:CurrentFinancialInstruments 2024-03-31 06859886 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06859886 core:Non-currentFinancialInstruments 2024-03-31 06859886 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06859886 bus:SmallEntities 2023-04-01 2024-03-31 06859886 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06859886 bus:FilletedAccounts 2023-04-01 2024-03-31 06859886 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06859886 bus:RegisteredOffice 2023-04-01 2024-03-31 06859886 bus:Director2 2023-04-01 2024-03-31 06859886 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06859886 bus:PreferenceShareClass1 2023-04-01 2024-03-31 06859886 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06859886 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06859886 core:ShareCapital 2023-04-01 2024-03-31 06859886 core:UKTax 2023-04-01 2024-03-31 06859886 countries:UnitedKingdom 2023-04-01 2024-03-31 06859886 2023-03-31 06859886 core:RetainedEarningsAccumulatedLosses 2023-03-31 06859886 core:ShareCapital 2023-03-31 06859886 2022-04-01 2023-03-31 06859886 2023-03-31 06859886 bus:OrdinaryShareClass1 2023-03-31 06859886 bus:PreferenceShareClass1 2023-03-31 06859886 core:CurrentFinancialInstruments 2023-03-31 06859886 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06859886 core:Non-currentFinancialInstruments 2023-03-31 06859886 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06859886 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06859886 core:ShareCapital 2022-04-01 2023-03-31 06859886 core:UKTax 2022-04-01 2023-03-31 06859886 2022-03-31 06859886 core:RetainedEarningsAccumulatedLosses 2022-03-31 06859886 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06859886

Managed Procurement Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Managed Procurement Solutions Limited

Company Information

Director

Mr Pervez Dhunji Poonjiaji

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Managed Procurement Solutions Limited

(Registration number: 06859886)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

466,093

490,031

Creditors: Amounts falling due within one year

6

(5,349)

(12,064)

Total assets less current liabilities

 

460,744

477,967

Creditors: Amounts falling due after more than one year

6

-

(20,000)

Net assets

 

460,744

457,967

Capital and reserves

 

Called up share capital

7

376,000

376,000

Retained earnings

84,744

81,967

Shareholders' funds

 

460,744

457,967

For the financial year ending 31 March 2024 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 October 2024
 

.........................................
Mr Pervez Dhunji Poonjiaji
Director

 

Managed Procurement Solutions Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

376,000

81,967

457,967

Profit for the year

-

2,777

2,777

At 31 March 2024

376,000

84,744

460,744

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

376,000

79,940

455,940

Profit for the year

-

2,027

2,027

At 31 March 2023

376,000

81,967

457,967

 

Managed Procurement Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD

These financial statements were authorised for issue by the director on 23 October 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

 

Managed Procurement Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

718

475

UK corporation tax adjustment to prior periods

45

-

763

475

5

Debtors

2024
£

2023
£

Trade debtors

159,637

161,891

Other debtors

70,394

97,523

Corporation tax recoverable

49,267

47,932

Directors current account

186,795

182,685

466,093

490,031

 

Managed Procurement Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

240

Taxation and social security

2,054

1,640

Accruals and deferred income

480

240

Amount due to related company

2,815

2,815

Directors current account

-

7,129

5,349

12,064

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

20,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

Preference shares of £1 each

375,000

375,000

375,000

375,000

376,000

376,000

376,000

376,000

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

20,000