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REGISTERED NUMBER: 10195919 (England and Wales)










MPS Professional Services Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024






MPS Professional Services Ltd (Registered number: 10195919)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MPS Professional Services Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Miss Frances Lisa Dawber





REGISTERED OFFICE: Unit 2
Vermont Court
Standish
United Kingdom
WN6 OXF





REGISTERED NUMBER: 10195919 (England and Wales)






MPS Professional Services Ltd (Registered number: 10195919)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Cash at bank 53 204

CREDITORS
Amounts falling due within one year 4 (52,390 ) (58,283 )
NET CURRENT LIABILITIES (52,337 ) (58,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,337

)

(58,079

)

CREDITORS
Amounts falling due after more than one
year

5

(32,083

)

(37,083

)
NET LIABILITIES (84,420 ) (95,162 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (84,421 ) (95,163 )
(84,420 ) (95,162 )

MPS Professional Services Ltd (Registered number: 10195919)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





Miss Frances Lisa Dawber - Director


MPS Professional Services Ltd (Registered number: 10195919)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 2
Vermont Court
Standish
WN6 OXF

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

CASH AND CASH EQUIVALENT
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

MPS Professional Services Ltd (Registered number: 10195919)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement to the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund andthe company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 898 -
Pension contributions unpaid - 317
Amounts owed to participating interests 5,163 1,318
PAYE NIC 15,885 24,748
VAT 10,980 11,293
Other creditors 12,322 12,322
Wages and salaries control - 1,594
Accrued expenses 2,142 1,691
52,390 58,283

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 32,083 37,083