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REGISTERED NUMBER: 06879257 (England and Wales)










MK Pragmatic Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






MK Pragmatic Limited (Registered number: 06879257)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MK Pragmatic Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr Matthew Knight





SECRETARY: Mrs Carla Yvonne Knight





REGISTERED OFFICE: Newhaven

Mill Lane
Mobberley
Cheshire
United Kingdom
WA16 7HX





REGISTERED NUMBER: 06879257 (England and Wales)






MK Pragmatic Limited (Registered number: 06879257)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,045 382

CURRENT ASSETS
Debtors 5 200,583 150,998
Cash at bank 4,558 4,807
205,141 155,805
CREDITORS
Amounts falling due within one year 6 (176,512 ) (122,857 )
NET CURRENT ASSETS 28,629 32,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,674

33,330

CREDITORS
Amounts falling due after more than one
year

7

(26,981

)

(33,133

)

PROVISIONS FOR LIABILITIES (262 ) (73 )
NET ASSETS 2,431 124

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,331 24
2,431 124

MK Pragmatic Limited (Registered number: 06879257)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2024 and were signed by:





Mr Matthew Knight - Director


MK Pragmatic Limited (Registered number: 06879257)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATEMENT OF COMPLIANCE

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.

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.

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.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 4 years

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

MK Pragmatic Limited (Registered number: 06879257)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

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.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

MK Pragmatic Limited (Registered number: 06879257)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023 764
Additions 1,242
At 31 May 2024 2,006
DEPRECIATION
At 1 June 2023 382
Charge for year 579
At 31 May 2024 961
NET BOOK VALUE
At 31 May 2024 1,045
At 31 May 2023 382

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,259 39,860
Directors' current accounts 146,782 83,839
Provision for Corporation tax refund 48,542 27,299
200,583 150,998

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and borrowings (see note 8) 5,222 5,118
Trade creditors 1,119 1,354
Corporation tax 146,524 95,634
PAYE and NIC creditor - 284
VAT 22,182 19,062
Accruals 1,465 1,405
176,512 122,857

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans and borrowings (see note 8) 26,981 33,133

MK Pragmatic Limited (Registered number: 06879257)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. LOANS AND BORROWINGS

An analysis of the maturity of loans and borrowings is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Loan 5,222 5,118

Amounts falling due between one and two years:
Bank loan 1 (1-2 yrs) 26,981 33,133