1 May 2023 v2025.6.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP112936742023-05-012024-04-30112936742024-04-30112936742023-04-3011293674core:WithinOneYear2024-04-3011293674core:WithinOneYear2023-04-3011293674core:AfterOneYear2024-04-3011293674core:AfterOneYear2023-04-3011293674core:ShareCapital2024-04-3011293674core:ShareCapital2023-04-3011293674core:RetainedEarningsAccumulatedLosses2024-04-3011293674core:RetainedEarningsAccumulatedLosses2023-04-3011293674bus:Director12023-05-012024-04-3011293674bus:RegisteredOffice2023-05-012024-04-3011293674core:PlantMachinery2023-05-012024-04-3011293674core:MotorVehicles2023-05-012024-04-30112936742022-05-012023-04-3011293674core:PlantMachinery2024-04-3011293674core:PlantMachinery2023-05-0111293674core:PlantMachinery2023-04-301129367412023-05-012024-04-3011293674countries:EnglandWales2023-05-012024-04-3011293674bus:AuditExemptWithAccountantsReport2023-05-012024-04-3011293674bus:PrivateLimitedCompanyLtd2023-05-012024-04-3011293674bus:SmallEntities2023-05-012024-04-3011293674bus:FullAccounts2023-05-012024-04-30
Company registration number:
11293674
Mpay Service Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2024
Mpay Service Ltd
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Tangible assets 5
27,085
 
41,302
 
Current assets    
Debtors 6
50,723
  -  
Cash at bank and in hand
113,096
 
42,725
 
163,819
 
42,725
 
Creditors: amounts falling due within one year 7
(155,678
)
(42,363
)
Net current assets
8,141
 
362
 
Total assets less current liabilities 35,226   41,664  
Creditors: amounts falling due after more than one year 8
(36,374
)
(47,569
)
Net liabilities
(1,148
)
(5,905
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(1,248
)
(6,005
)
Shareholders deficit
(1,148
)
(5,905
)
For the year ending
30 April 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 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
30 January 2025
, and are signed on behalf of the board by:
K Wang
Director
Company registration number:
11293674
Mpay Service Ltd
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 15, Frankley Industrial Estate
,
Tay Road
,
Birmingham
,
B45 0LD
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Motor vehicles
20% straight line

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2023:
7.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 May 2023
and
30 April 2024
71,086
 
Depreciation  
At
1 May 2023
29,784
 
Charge
14,217
 
At
30 April 2024
44,001
 
Carrying amount  
At
30 April 2024
27,085
 
At 30 April 2023
41,302
 

6 Debtors

20242023
££
Trade debtors
50,723
  -  

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
12,273
 
11,861
 
Taxation and social security
1,315
 
(17,522
)
Other creditors
142,090
 
48,024
 
155,678
 
42,363
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
36,374
 
47,569