Mike Clynes Associates Limited |
Registered number: |
03145063 |
Balance Sheet |
as at 31 December 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
- |
|
|
|
|
- |
|
|
- |
|
Current assets |
Debtors |
4 |
|
713 |
|
|
3,256 |
Cash at bank and in hand |
|
|
629 |
|
|
1,609 |
|
|
|
1,342 |
|
|
4,865 |
|
Creditors: amounts falling due within one year |
5 |
|
(11,909) |
|
|
(4,860) |
|
Net current (liabilities)/assets |
|
|
|
(10,567) |
|
|
5 |
|
Net (liabilities)/assets |
|
|
|
(10,567) |
|
|
5 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
6 |
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(10,569) |
|
|
3 |
|
Shareholders' funds |
|
|
|
(10,567) |
|
|
5 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
M J Clynes |
Director |
Approved by the board on 11 March 2025 |
|
Mike Clynes Associates Limited |
Notes to the Accounts |
for the year ended 31 December 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime). The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. As explained in note 7 to the financial statements, the company ceased trading on 31 December 2024 and the financial statements have been prepared on a basis other than that of the going concern basis. This has had the effect of assessing the recoverable amounts or the amounts that can be realised on the disposal, after allowing for any cost of disposal, of current assets, and the realistic value of tangible and intangible fixed assets as well as the amounts payable for liabilities. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date. |
|
|
Turnover |
|
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 rendering of services and from the sale of goods. Turnover from the rendering of services is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow. Recognition of turnover is in the period in which the services are rendered by reference to the stage of completion, which is assessed on the actual services provided as a proportion of the total value of services to be provided. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment and furniture |
Fully depreciated and disposed of at year end |
|
Motor vehicle |
Fully depreciated and disposed of at year end |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Office furniture and equipment |
|
Motor vehicle |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2024 |
4,837 |
|
6,000 |
|
10,837 |
|
Disposals |
(4,837) |
|
(6,000) |
|
(10,837) |
|
At 31 December 2024 |
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
4,837 |
|
6,000 |
|
10,837 |
|
On disposals |
(4,837) |
|
(6,000) |
|
(10,837) |
|
At 31 December 2024 |
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
- |
|
- |
|
- |
|
At 31 December 2023 |
- |
|
- |
|
- |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
713 |
|
3,256 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
- |
|
333 |
|
Other creditors |
11,909 |
|
4,527 |
|
|
|
|
|
|
11,909 |
|
4,860 |
|
|
|
|
|
|
|
|
|
|
6 |
Share capital |
Nominal |
|
2024 |
|
2024 |
|
2023 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
7 |
Events after the reporting date |
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Following the unanticipated loss of a major client in 2023, the directors continued to look for sales opportunities and 2024 proved to also be challenging. The directors continued to fund costs incurred personally whilst no income was achieved. Due to the fact that no opportunities have been converted into sales orders, the directors have reluctantly decided to cease activities on 31 December 2024. The company will be dissolved in due course. |
|
|
8 |
Related party transactions |
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|
The company directors lent the company various amounts during the year interest free. The amount due to the directors at the financial year end was £8,409 (2023- £527) |
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|
9 |
Other information |
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Mike Clynes Associates Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Chatsworth House |
|
Crawley drive |
|
Camberley |
|
Surrey |
|
GH15 2AA |