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Registration number: 06749050

MAL Consulting South West Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

MAL Consulting South West Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

MAL Consulting South West Limited

Company Information

Director

Mr Matthew Lyon

Company secretary

Mrs Lynne Lyon

Registered office

Candletree
True Street
Berry Pomeroy
Devon
TQ9 6LE

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

MAL Consulting South West Limited

(Registration number: 06749050)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

5,716

5,960

Creditors: Amounts falling due within one year

4

(31,345)

(17,790)

Net liabilities

 

(25,629)

(11,830)

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

(25,630)

(11,831)

Shareholders' deficit

 

(25,629)

(11,830)

For the financial year ending 30 November 2023 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................
Mr Matthew Lyon
Director

 

MAL Consulting South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Candletree
True Street
Berry Pomeroy
Devon
TQ9 6LE

These financial statements were authorised for issue by the director on 29 November 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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.

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.

 

MAL Consulting South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

MAL Consulting South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

17,735

20,361

Trade creditors

 

1,931

1,931

Taxation and social security

 

105

21

Accruals and deferred income

 

1,440

940

Other creditors

 

10,134

(5,463)

 

31,345

17,790

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

17,735

20,361

7

Related party transactions

 

MAL Consulting South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Transactions with the director

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mr Matthew Lyon

Matthew Lyon

5,467

(15,601)

(10,134)

       
     

 

2022

At 1 December 2021
£

Advances to director
£

At 30 November 2022
£

Mr Matthew Lyon

Matthew Lyon

(22,840)

28,307

5,467

       
     

 

 

MAL Consulting South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

11,580