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COMPANY REGISTRATION NUMBER: 05721214
Mrcyeo Limited
Filleted Unaudited Financial Statements
For the year ended
29 February 2024
Mrcyeo Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
649
657
Current assets
Cash at bank and in hand
56,126
61,456
Creditors: amounts falling due within one year
6
18,073
17,749
--------
--------
Net current assets
38,053
43,707
--------
--------
Total assets less current liabilities
38,702
44,364
--------
--------
Net assets
38,702
44,364
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
38,701
44,363
--------
--------
Shareholder funds
38,702
44,364
--------
--------
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 29 February 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
C Yeo
Director
Company registration number: 05721214
Mrcyeo Limited
Notes to the Financial Statements
Year ended 29 February 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 The Bees, Camden Road, Sevenoaks, Kent.
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
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 March 2023
8,660
8,660
Additions
208
208
-------
----
-------
At 29 February 2024
8,660
208
8,868
-------
----
-------
Depreciation
At 1 March 2023
8,003
8,003
Charge for the year
164
52
216
-------
----
-------
At 29 February 2024
8,167
52
8,219
-------
----
-------
Carrying amount
At 29 February 2024
493
156
649
-------
----
-------
At 28 February 2023
657
657
-------
----
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,436
Social security and other taxes
6,979
6,400
Other creditors
11,094
9,913
--------
--------
18,073
17,749
--------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Yeo
( 8,513)
( 1,081)
( 9,594)
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Yeo
( 1,881)
( 6,632)
( 8,513)
-------
-------
-------
8. Related party transactions
Dividends totalling £nil (2023 £8,000) were paid in the year in respect of shares held by the company's director.