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MISSIONCX LIMITED

Registered Number
05866241
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

MISSIONCX LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

SLATER, Ben
SLATER, Joanne

Company Secretary

SLATER, Ben

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

05866241 (England and Wales)
MISSIONCX LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets376,61811,602
76,61811,602
Current assets
Debtors41,949,4041,195,453
Cash at bank and on hand384,080176,680
2,333,4841,372,133
Creditors amounts falling due within one year5(2,028,301)(1,126,094)
Net current assets (liabilities)305,183246,039
Total assets less current liabilities381,801257,641
Creditors amounts falling due after one year6(65,944)-
Provisions for liabilities8(901)(2,901)
Net assets314,956254,740
Capital and reserves
Called up share capital1,0001,000
Profit and loss account313,956253,740
Shareholders' funds314,956254,740
The financial statements were approved and authorised for issue by the Board of Directors on 3 January 2025, and are signed on its behalf by:
SLATER, Ben
Director
SLATER, Joanne
Director

Registered Company No. 05866241
MISSIONCX LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Vehicles20-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
2.Average number of employees

20242023
Average number of employees during the year127
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 November 231,340-35,48536,825
Additions-88,99567089,665
At 31 October 241,34088,99536,155126,490
Depreciation and impairment
At 01 November 23893-24,33025,223
Charge for year33517,7996,51524,649
At 31 October 241,22817,79930,84549,872
Net book value
At 31 October 2411271,1965,31076,618
At 31 October 23447-11,15511,602
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,028,779602,015
Other debtors-23,856
Prepayments and accrued income920,625569,582
Total1,949,4041,195,453
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1851,440
Bank borrowings and overdrafts909,013540,501
Taxation and social security229,19681,217
Finance lease and HP contracts3,337-
Other creditors1,6171,381
Accrued liabilities and deferred income884,953501,555
Total2,028,3011,126,094
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors65,944-
Total65,944-
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts65,944-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)9012,901
Total9012,901
9.Related party transactions
The company received services totaling £Nil (2023 - £Nil) from Slater Consultants Limited, a company owned and controlled by Mr and Mrs B Slater, during the year. At the year end the company owed Slater Consultants Limited £Nil (2023 - £Nil). Slater Consultants Limited also had a loan with the company. The balance due to Missioncx Limited at the year end was £Nil (2023 - £23,856) and is included in other debtors.