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Registered number: 00560519









MFPA PUBLISHING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MFPA PUBLISHING LIMITED
REGISTERED NUMBER: 00560519

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
610,454
611,964

Investments
 5 
13,017
13,017

  
623,471
624,981

Current assets
  

Debtors: amounts falling due within one year
 6 
84,334
81,420

Cash at bank and in hand
  
154,062
211,560

  
238,396
292,980

Creditors: amounts falling due within one year
 7 
(814,568)
(872,066)

Net current liabilities
  
 
 
(576,172)
 
 
(579,086)

Total assets less current liabilities
  
47,299
45,895

  

Net assets
  
47,299
45,895


Capital and reserves
  

Called up share capital 
  
3,000
3,000

Profit and loss account
  
44,299
42,895

  
47,299
45,895


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2025.




S.M.R. Abletshauser
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
MFPA PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

MFPA Publishing Limited ("the Company") is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the company continued to be that of agents for the partnership "Mouth and Foot Painting Artists".
The registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.
The company has net current liabilities of £576,172 at the year end. Included withing creditors is an amount of £649,823 due to the parent entity. The parent entity has confirmed their support for 12 months from the date of signing of the financial statements.

Page 2

 
MFPA PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
MFPA PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Long-term leasehold property
-
over lease term

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2

Page 4

 
MFPA PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property
Long-term leasehold property
Total

£
£
£



Cost


At 1 July 2023
544,026
113,238
657,264



At 30 June 2024

544,026
113,238
657,264



Depreciation


At 1 July 2023
-
45,300
45,300


Charge for the year on owned assets
-
1,510
1,510



At 30 June 2024

-
46,810
46,810



Net book value



At 30 June 2024
544,026
66,428
610,454



At 30 June 2023
544,026
67,938
611,964

The land and buildings were valued on 15th November 2016 at £2,320,000 on an open market basis by Mathieson Keenam, a firm of Chartered Surveyors. The valuation conforms to the International Valuation standards and was based on recent market transactions on arm's length tems for similar properties.    The value has not been amended in the financial statements.


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 July 2023
13,017



At 30 June 2024
13,017





6.


Debtors

Page 5

 
MFPA PUBLISHING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
£
£


Other debtors
84,334
81,420



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
649,823
649,823

Corporation tax
683
683

Other creditors
154,062
211,560

Accruals and deferred income
10,000
10,000

814,568
872,066


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


8.


Related party transactions

The following transaction and amounts were outstanding at the reporting end date were as follows:-

Fees receivable of £14,000 (2023 - £14,000) fom the partnership, Mouth & Foot Painting Artists and at the year end date, amount owed by Mouth & Foot Painting Artists amounted to £84,334 (2023 - £81,420).

Amounts due to the parent company, Vereinigung der Mund- und Fussmalenden Künstler in aller Welt, e. V. amounted to £649,823 (2023 - £649,823)


9.


Controlling party

The parent company is a registered organisation in Liechtenstein, Vereinigung der Mund- und Fussmalenden Künstler in aller Welt, e. V. (VDMFK.).

10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 14 March 2025 by Nick Bishop FCA (Senior statutory auditor) on behalf of BKL Audit LLP.

 
Page 6