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Registered number: 14360884
M C Davies Associates Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14360884
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 443 590
443 590
CURRENT ASSETS
Debtors 5 35 4,835
Cash at bank and in hand 25,568 35,374
25,603 40,209
Creditors: Amounts Falling Due Within One Year 6 (1,797 ) (8,574 )
NET CURRENT ASSETS (LIABILITIES) 23,806 31,635
TOTAL ASSETS LESS CURRENT LIABILITIES 24,249 32,225
NET ASSETS 24,249 32,225
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 24,149 32,125
SHAREHOLDERS' FUNDS 24,249 32,225
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M C Davies
Director
11 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
M C Davies Associates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14360884 . The registered office is Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised in the period the service is provided to the customer.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RB
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2023 786
As at 30 September 2024 786
Depreciation
As at 1 October 2023 196
Provided during the period 147
As at 30 September 2024 343
Net Book Value
As at 30 September 2024 443
As at 1 October 2023 590
5. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors - 4,800
Other debtors 35 35
35 4,835
6. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Other creditors 1,288 1,207
Taxation and social security 509 7,367
1,797 8,574
7. Share Capital
30 September 2024 30 September 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
30 September 2024 30 September 2023
£ £
M C Davies 6,500 -
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9. Related Party Transactions
M Davies
The above is a related party by virtue of being the director of the company.
During the period the related party incurred expenses on behalf of the company and drew monies against his loan account.
At the balance sheet date the related party was owed £327 (2023: £247) by the company.
There has been no interest charged on this loan during the period.
D Davies
The above is a related party by virtue of being a shareholder in the company.
At the balance sheet date the related party owed the company £32 (2023: £32).
There has been no interest charged on this loan during the period.
10. Ultimate Controlling Party
The company's ultimate controlling party is M Davies by virtue of his majority ownership of the issued share capital in the company.
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