7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05063792 2023-10-01 2024-09-30 05063792 2024-09-30 05063792 2023-09-30 05063792 2022-10-01 2023-09-30 05063792 2023-09-30 05063792 2022-09-30 05063792 core:LandBuildings core:LongLeaseholdAssets 2023-10-01 2024-09-30 05063792 core:FurnitureFittings 2023-10-01 2024-09-30 05063792 core:MotorVehicles 2023-10-01 2024-09-30 05063792 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 05063792 bus:Director2 2023-10-01 2024-09-30 05063792 core:LandBuildings 2023-09-30 05063792 core:FurnitureFittings 2023-09-30 05063792 core:MotorVehicles 2023-09-30 05063792 core:LandBuildings 2024-09-30 05063792 core:FurnitureFittings 2024-09-30 05063792 core:AfterOneYear 2024-09-30 05063792 core:AfterOneYear 2023-09-30 05063792 core:WithinOneYear 2024-09-30 05063792 core:WithinOneYear 2023-09-30 05063792 core:LandBuildings 2023-10-01 2024-09-30 05063792 core:ShareCapital 2024-09-30 05063792 core:ShareCapital 2023-09-30 05063792 core:RetainedEarningsAccumulatedLosses 2024-09-30 05063792 core:RetainedEarningsAccumulatedLosses 2023-09-30 05063792 core:LandBuildings 2023-09-30 05063792 core:FurnitureFittings 2023-09-30 05063792 core:MotorVehicles 2023-09-30 05063792 bus:SmallEntities 2023-10-01 2024-09-30 05063792 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 05063792 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05063792 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05063792 bus:FullAccounts 2023-10-01 2024-09-30 05063792 bus:OrdinaryShareClass1 2024-09-30 05063792 bus:OrdinaryShareClass1 2023-09-30 05063792 core:OfficeEquipment 2023-10-01 2024-09-30 05063792 core:OfficeEquipment 2023-09-30 05063792 core:OfficeEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 05063792
MPL TECHNOLOGY GROUP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2024
MPL TECHNOLOGY GROUP LIMITED
BALANCE SHEET
30 September 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
11,235
65,651
CURRENT ASSETS
Stocks
171,092
200,676
Debtors
6
483,459
242,439
Cash at bank and in hand
134,078
398,590
--------
--------
788,629
841,705
CREDITORS: amounts falling due within one year
7
( 460,191)
( 604,998)
--------
--------
NET CURRENT ASSETS
328,438
236,707
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
339,673
302,358
CREDITORS: amounts falling due after more than one year
8
( 183,598)
( 186,736)
--------
--------
NET ASSETS
156,075
115,622
--------
--------
CAPITAL AND RESERVES
Called up share capital
9
2
2
Profit and loss account
156,073
115,620
--------
--------
SHAREHOLDERS FUNDS
156,075
115,622
--------
--------
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 profit and loss account has not been delivered.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MPL TECHNOLOGY GROUP LIMITED
BALANCE SHEET (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 17 July 2025 , and are signed on behalf of the board by:
P A Maidment
Director
Company registration number: 05063792
MPL TECHNOLOGY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 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 Unit 2, Telford Business Park, Telford Road, Bicester, Oxon, OX26 4LD.
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 for goods supplied and services rendered, net of discounts and 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Leasehold property
-
10% straight line
Fixtures & fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables 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 payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
180,870
23,742
100,750
60,098
365,460
Disposals
( 100,750)
( 100,750)
--------
-------
--------
-------
--------
At 30 September 2024
180,870
23,742
60,098
264,710
--------
-------
--------
-------
--------
Depreciation
At 1 October 2023
177,701
21,482
51,474
49,152
299,809
Charge for the year
2,073
447
3,080
2,620
8,220
Disposals
( 54,554)
( 54,554)
--------
-------
--------
-------
--------
At 30 September 2024
179,774
21,929
51,772
253,475
--------
-------
--------
-------
--------
Carrying amount
At 30 September 2024
1,096
1,813
8,326
11,235
--------
-------
--------
-------
--------
At 30 September 2023
3,169
2,260
49,276
10,946
65,651
--------
-------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
110,788
154,511
Amounts owed by group undertakings and undertakings in which the company has a participating interest
129,441
Other debtors
243,230
87,928
--------
--------
483,459
242,439
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
50,000
50,000
Trade creditors
294,768
497,427
Social security and other taxes
10,939
10,982
Other creditors
104,484
46,589
--------
--------
460,191
604,998
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
141,931
57,011
Other creditors
41,667
129,725
--------
--------
183,598
186,736
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.0001 each
20,000
2
20,000
2
-------
----
-------
----
10. Other financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £187,000 (2023 £255,000).
11. Controlling party
The ultimate and immediate parent company is MPL Technology Group Holdings Limited, a company incorporated and registered in England.