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COMPANY REGISTRATION NUMBER: 14570501
MP Connections Consultancy Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2024
MP Connections Consultancy Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
42,584
769
Current assets
Debtors
6
26,633
31,964
Cash at bank and in hand
145,626
121,774
----------
----------
172,259
153,738
Creditors: amounts falling due within one year
7
29,784
43,642
----------
----------
Net current assets
142,475
110,096
----------
----------
Total assets less current liabilities
185,059
110,865
----------
----------
Net assets
185,059
110,865
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
184,959
110,765
----------
----------
Shareholders funds
185,059
110,865
----------
----------
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 income and retained earnings has not been delivered.
For the year ending 31 December 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MP Connections Consultancy Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
M Proctor
Director
Company registration number: 14570501
MP Connections Consultancy Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Mayfields Way, South Kirkby, Pontefract, WF9 3SH, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2024
1,026
1,026
Additions
56,010
56,010
--------
-------
--------
At 31 December 2024
56,010
1,026
57,036
--------
-------
--------
Depreciation
At 1 January 2024
257
257
Charge for the year
14,003
192
14,195
--------
-------
--------
At 31 December 2024
14,003
449
14,452
--------
-------
--------
Carrying amount
At 31 December 2024
42,007
577
42,584
--------
-------
--------
At 31 December 2023
769
769
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
26,551
31,903
Other debtors
82
61
--------
--------
26,633
31,964
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
17,615
32,370
Social security and other taxes
11,219
10,372
Other creditors
950
900
--------
--------
29,784
43,642
--------
--------