0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 04054923 2023-06-01 2024-05-31 04054923 2024-05-31 04054923 2023-05-31 04054923 2022-06-01 2023-05-31 04054923 2023-05-31 04054923 2022-05-31 04054923 bus:Director1 2023-06-01 2024-05-31 04054923 core:WithinOneYear 2024-05-31 04054923 core:WithinOneYear 2023-05-31 04054923 core:AfterOneYear 2024-05-31 04054923 core:AfterOneYear 2023-05-31 04054923 core:ShareCapital 2024-05-31 04054923 core:ShareCapital 2023-05-31 04054923 core:RetainedEarningsAccumulatedLosses 2024-05-31 04054923 core:RetainedEarningsAccumulatedLosses 2023-05-31 04054923 bus:Director1 2023-05-31 04054923 bus:Director1 2024-05-31 04054923 bus:Director1 2022-05-31 04054923 bus:Director1 2023-05-31 04054923 bus:Director1 2022-06-01 2023-05-31 04054923 bus:SmallEntities 2023-06-01 2024-05-31 04054923 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04054923 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04054923 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04054923 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 04054923
MAPWAY TECHNOLOGIES LIMITED
Filleted Unaudited Financial Statements
31 May 2024
MAPWAY TECHNOLOGIES LIMITED
Financial Statements
Year ended 31st May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
MAPWAY TECHNOLOGIES LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
11,553,226
11,640,598
Cash at bank and in hand
109
18,224
-------------
-------------
11,553,335
11,658,822
Creditors: amounts falling due within one year
5
622,431
862,339
-------------
-------------
Net current assets
10,930,904
10,796,483
-------------
-------------
Total assets less current liabilities
10,930,904
10,796,483
Creditors: amounts falling due after more than one year
6
182,186
270,417
-------------
-------------
Net assets
10,748,718
10,526,066
-------------
-------------
Capital and reserves
Called up share capital
107,025
107,025
Profit and loss account
10,641,693
10,419,041
-------------
-------------
Shareholders funds
10,748,718
10,526,066
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MAPWAY TECHNOLOGIES LIMITED
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2024 , and are signed on behalf of the board by:
Mr D James
Director
Company registration number: 04054923
MAPWAY TECHNOLOGIES LIMITED
Notes to the Financial Statements
Year ended 31st May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dalton Place, 29 John Dalton Street, Manchester, M2 6DS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue recognition, which is stated net of vat, depends on the type of revenue concerned. Interest income and expense is recognised on an accruals basis. Turnover represents amounts recognised over the period of contracts for the provision of services which fall within the company's ordinary activities after deduction of value added tax.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Debtors
2024
2023
£
£
Trade debtors
5,706
20,176
Amounts owed by group undertakings and undertakings in which the company has a participating interest
10,823,301
11,054,779
Other debtors
724,219
565,643
-------------
-------------
11,553,226
11,640,598
-------------
-------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
88,231
321,592
Trade creditors
51,572
55,218
Amounts owed to group undertakings and undertakings in which the company has a participating interest
464,926
464,926
Social security and other taxes
14,994
13,212
Other creditors
2,708
7,391
---------
---------
622,431
862,339
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
182,186
270,417
---------
---------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D James
293,000
( 293,000)
466,000
466,000
---------
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D James
460,000
293,000
( 460,000)
293,000
---------
---------
---------
---------
8. Related party transactions
The company has been under the control of Mapway Holdings Limited since 19th January 2009. Included in creditors is an amount owed to Mapway Holdings Limited of £464,926. Included in debtors is an amount owed by Mapway Limited, a company which is also under the control of Mapway Holdings Limited, of £10,823,301. The loan to Mr D James was made on the 30 November 2023 and is for a term of 12 months. The loan is interest free for 12 months and is repayable in full on demand or within 12 months.
9. Controlling party
The ultimate parent undertaking is Mapway Holdings Limited, a company registered in England and Wales.