Registered number
06540457
MCC Media Limited
Filleted Accounts
30 September 2024
MCC Media Limited
Report to the directors on the preparation of the unaudited statutory accounts of MCC Media Limited for the period ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MCC Media Limited for the period ended 30 September 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
1st Cloud Accountants
1st Cloud Accountants
Chartered Certified Accountants
Analysis House
117 - 119 Sea Road
Fulwell
Sunderland
SR5 1PS
30 October 2024
MCC Media Limited
Registered number: 06540457
Balance Sheet
as at 30 September 2024
Notes 30/9/24 31/5/24
£ £
Fixed assets
Tangible assets 3 23,855 20,738
Current assets
Debtors 4 334,001 428,691
Cash at bank and in hand 12,658 19,725
346,659 448,416
Creditors: amounts falling due within one year 5 (345,085) (431,177)
Net current assets 1,574 17,239
Total assets less current liabilities 25,429 37,977
Provisions for liabilities (4,532) (3,940)
Net assets 20,897 34,037
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 19,897 33,037
Shareholders' funds 20,897 34,037
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P M McCoy
Director
Approved by the board on 30 October 2024
MCC Media Limited
Notes to the Accounts
for the period from 1 June 2024 to 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Office equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 30/9/24 31/5/24
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2024 17,870 109,669 127,539
Additions 7,327 - 7,327
At 30 September 2024 25,197 109,669 134,866
Depreciation
At 1 June 2024 11,929 94,872 106,801
Charge for the period 1,781 2,429 4,210
At 30 September 2024 13,710 97,301 111,011
Net book value
At 30 September 2024 11,487 12,368 23,855
At 31 May 2024 5,941 14,797 20,738
4 Debtors 30/9/24 31/5/24
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 282,726 350,933
Other debtors 51,275 77,758
334,001 428,691
5 Creditors: amounts falling due within one year 30/9/24 31/5/24
£ £
Directors loan account 16,559 14,325
Accruals 69,698 13,949
Trade creditors 6,000 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 252,305 402,305
Taxation and social security costs 523 598
345,085 431,177
6 Other information
MCC Media Limited is a private company limited by shares and incorporated in England. Its registered office is:
Former Monkwearmouth Library
Church Street North
Sunderland
United Kingdom
SR6 0DR
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