Company Registration No. 11351758 (England and Wales)
MCB Holdings Worldwide Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
MCB Holdings Worldwide Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
MCB Holdings Worldwide Limited
Statement of financial position
As at 30 June 2024
30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
35,973
18,385
Current assets
Debtors
6
1,099,467
1,364,398
Cash at bank and in hand
6,191,394
5,034,014
7,290,861
6,398,412
Creditors: amounts falling due within one year
7
(202,028)
(651,316)
Net current assets
7,088,833
5,747,096
Net assets
7,124,806
5,765,481
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
7,124,805
5,765,480
Total equity
7,124,806
5,765,481

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Herwig De Bruyne
Director
Company Registration No. 11351758
MCB Holdings Worldwide Limited
Notes to the financial statements
For the year ended 30 June 2024
2
1
Accounting policies
Company information

MCB Holdings Worldwide Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion can be estimated reliably. The stage of completion is calculated by reference to the terms set out in the image rights contract.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

MCB Holdings Worldwide Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
3
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MCB Holdings Worldwide Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
4
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
35,973
18,385
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2023
18,385
Additions
17,986
Valuation changes
(398)
At 30 June 2024
35,973
Carrying amount
At 30 June 2024
35,973
At 30 June 2023
18,385
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
36,371
18,385
MCB Holdings Worldwide Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
429,172
513,270
Corporation tax recoverable
88,857
68
Other debtors
581,438
851,060
1,099,467
1,364,398
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,800
27,904
Amounts owed to group undertakings
14,123
14,123
Corporation tax
110,472
199,945
Other taxation and social security
63,632
73,338
Other creditors
6,001
336,006
202,028
651,316
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
9
Related party transactions

During the year, a loan was advanced from MCB Holdings UK Limited, a company under common control. At the year end the company owed £14,123 (2023: £14,123) to MCB Holdings UK Limited in respect of this loan. This loan is interest free and repayable on demand.

 

As at 30 June 2024, the director owed the company £263,280 (2023: £201). During the period, the director withdrew £262,146 (2023: £200), repaid £nil (2023: £nil) and interest accrued of £933 (2022: nil). The loan is repayable on demand.

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