Company Registration No. 6360656 (England and Wales)
MPS Marketing Services Ltd
Unaudited accounts
for the year ended 30 September 2024
MPS Marketing Services Ltd
Unaudited accounts
Contents
MPS Marketing Services Ltd
Company Information
for the year ended 30 September 2024
Directors
J R Pinches
P L Turner
C S Walton
Company Number
6360656 (England and Wales)
Registered Office
13 Cattlemarket
Chew Road, Winford
Bristol
BS40 8HB
MPS Marketing Services Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
89,560
87,412
Cash at bank and in hand
562,853
176,045
Creditors: amounts falling due within one year
(515,917)
(256,666)
Net current assets
775,971
912,788
Total assets less current liabilities
865,532
1,000,201
Creditors: amounts falling due after more than one year
-
(6,046)
Provisions for liabilities
Deferred tax
(13,615)
(13,720)
Net assets
851,917
980,435
Called up share capital
2
2
Profit and loss account
851,915
980,433
Shareholders' funds
851,917
980,435
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by
C S Walton
Director
Company Registration No. 6360656
MPS Marketing Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
MPS Marketing Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 6360656. The registered office is 13 Cattlemarket, Chew Road, Winford, Bristol, BS40 8HB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the special provisions in part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Depreciation is calculated so as to write off the cost of tangible fixed assets, on a straight line basis over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are:
Leasehold Improvements: 10%
Plant and Machinery: 10%-33%
Motor Vehicles: 25%
Computer equipment: 33%
Investments in subsidiary undertakings are stated at cost, less any provisions for impairment.
Stocks are stated at the lower of cost and net realisable value. Provision is made for slow moving or obsolete items where appropriate.
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recornised initially at transaction price less attriburable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest rate method, less any impairment losses in the case of trade debtors.
Operating lease agreements
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.
UK Corporation tax payable is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.
MPS Marketing Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
The Company makes contributions to money purchase pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
Turnover represents the amounts invoiced for goods and services, stated net of value added tax. Turnover is derived solely within the United Kingdom.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Grant income is shown in the profit and loss account as other operating income.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2023
59,860
451,044
231,170
56,899
798,973
Additions
-
8,558
55,990
3,582
68,130
Disposals
-
-
(52,340)
-
(52,340)
At 30 September 2024
59,860
459,602
234,820
60,481
814,763
At 1 October 2023
46,806
428,694
185,240
50,821
711,561
Charge for the year
3,896
17,106
35,667
3,316
59,985
On disposals
-
-
(46,343)
-
(46,343)
At 30 September 2024
50,702
445,800
174,564
54,137
725,203
At 30 September 2024
9,158
13,802
60,256
6,344
89,560
At 30 September 2023
13,054
22,350
45,930
6,078
87,412
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
17,096
45,930
5
Investments
Subsidiary undertakings
Valuation at 1 October 2023
1
Valuation at 30 September 2024
1
The company owns 100% of the issued share capital of Yestor Investments Limited. Yestor Investments Limited is registered in the UK at the address shown in note 1.
As the company is subject to the small companies regime, group accounts have not been prepared.
MPS Marketing Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
Amounts falling due within one year
Trade debtors
248,866
326,230
Amounts due from group undertakings etc.
66,037
113,190
Accrued income and prepayments
38,755
36,851
Other debtors
365,577
508,058
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,046
11,695
Trade creditors
179,421
120,740
Taxes and social security
162,923
37,373
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
6,046
Allotted, called up and fully paid:
1 'A' Ordinary share of £1 each
1
1
1 'B' Ordinary share of £1 each
1
1
10
Operating lease commitments
2024
2023
At 30 September 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
211,050
281,400
MPS Marketing Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
11
Transactions with related parties
The principal shareholder, Mr R Fagnani, and his spouse are both shareholders in the Company and beneficiaries of the Fagnani Group SIPP. The Company pays rent to the Fagnani Group SIPP. The rent paid during the year was: £70,350 (2023: £70,350)
The Company has made net advances of £131,500 (2023: £181,500) to its wholly owned subsidiary Yestor Investments Ltd. A cumulative provision of £65,463 (2023: £68,310) has been made against the recoverability of the loan. The net balance of £66,037 (2023: £113,190 is shown within Debtors - Amounts due from group undertakings.
At the end of the year, a Loan of £341,977 (2023: £504,045) was due from Mr R Fagnani and his spouse, the principal shareholders, and is included in other debtors. Subsequent to the year end this loan was repaid.
The company is controlled by Mr R Fagnani, who owns the entire issued 'A' ordinary shares.
13
Average number of employees
During the year the average number of employees was 22 (2023: 21).