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COMPANY REGISTRATION NUMBER: 14877460
MCP Consulting Group Holdings Limited
Filleted Unaudited Financial Statements
31 August 2024
MCP Consulting Group Holdings Limited
Statement of Financial Position
31 August 2024
31 Aug 24
Note
£
£
Fixed assets
Investments
4
119,205
Current assets
Debtors
5
36,535
Cash at bank and in hand
523,297
--------
559,832
Creditors: amounts falling due within one year
6
34,455
--------
Net current assets
525,377
--------
Total assets less current liabilities
644,582
--------
Net assets
644,582
--------
Capital and reserves
Called up share capital
7
119,200
Profit and loss account
525,382
--------
Shareholders funds
644,582
--------
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 comprehensive income has not been delivered.
For the period ending 31 August 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 period 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 .
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
P. Gagg
Director
Company registration number: 14877460
MCP Consulting Group Holdings Limited
Notes to the Financial Statements
Period from 18 May 2023 to 31 August 2024
1. General information
The company i a private compant limited by shares, incorporated and registered in England and Wales, with company number 14877460 . The address of the registered office is 8 Jury Street, Warwick, England, CV34 4EW.
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 company and rounded to the nearest £.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
4. Investments
Shares in group undertakings
£
Cost
At 18 May 2023
Additions
119,205
--------
At 31 August 2024
119,205
--------
Impairment
At 18 May 2023 and 31 August 2024
--------
Carrying amount
At 31 August 2024
119,205
--------
5. Debtors
31 Aug 24
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
36,535
-------
6. Creditors: amounts falling due within one year
31 Aug 24
£
Social security and other taxes
91
Other creditors
34,364
-------
34,455
-------
7. Called up share capital
Issued, called up and fully paid
31 Aug 24
No.
£
Ordinary shares of £ 1 each
119,200
119,200
--------
--------
On incorporation the company issued 1 ordinary £1 share. On 20 October 2023, the company issued 119,199 ordinary £1 shares at par value.
8. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £17,792. There is no fixed term for repayment and no interest is charged .
9. Related party transactions
There was no ultimate controlling party in the current period.