MCCGLC Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

MCCGLC Limited

Company Information

Director

Mr. Matteo Console Camprini

Registered office

Arnold House 21-33 Great Eastern Street London EC2A 3EJ

Accountants

Grays Accountants Ltd

MCCGLC Limited

(Registration number: 05563882)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	62,738	2,250,170
Tangible assets	5	238,661	283,939
Investments		1	1
		301,400	2,534,110
Current assets
Debtors	6	3,532,942	2,255,103
Cash at bank and in hand		557,118	3,480,486
		4,090,060	5,735,589
Creditors: Amounts falling due within one year	7	(3,877,986)	(5,896,115)
Net current assets/(liabilities)		212,074	(160,526)
Total assets less current liabilities		513,474	2,373,584
Creditors: Amounts falling due after more than one year	7	(317,130)	(983,762)
Provisions for liabilities		(59,665)	(70,985)
Net assets		136,679	1,318,837
Capital and reserves
Called up share capital	8	763	763
Capital redemption reserve		500	500
Retained earnings		135,416	1,317,574
Shareholders' funds		136,679	1,318,837

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

MCCGLC Limited

(Registration number: 05563882)
Balance Sheet as at 31 December 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2025
 

......................................... Mr. Matteo Console Camprini Director

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Arnold House
21-33 Great Eastern Street
London
EC2A 3EJ
England

These financial statements were authorised for issue by the director on 31 July 2025.

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.

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.

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment, fixtures and fittings	20% on cost
Leasehold improvements	depreciated evenly over the life of the lease

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. The goodwill recognised by the company arose in connection with the acquisition of a business in 2008 and is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Internally generated software development costs are capitalised as incurred and amortised based upon the policy set out below.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Goodwill - over 20 years

Internally generated software - over the life of the project following full launch subject to impairment tests giving rise to provision for reductions in estimated residual value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the 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.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using an option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 37 (2023 - 31).

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Internally generated software development costs  £	Total £
Cost or valuation
At 1 January 2024	334,606	2,695	2,184,702	2,522,003
Additions internally developed	-	-	2,429	2,429
At 31 December 2024	334,606	2,695	2,187,131	2,524,432
Amortisation
At 1 January 2024	255,138	2,695	14,000	271,833
Amortisation charge	16,730	-	2,173,131	2,189,861
At 31 December 2024	271,868	2,695	2,187,131	2,461,694
Carrying amount
At 31 December 2024	62,738	-	-	62,738
At 31 December 2023	79,468	-	2,170,702	2,250,170

Internally generated software development costs have been incurred in the creation of a virtual event solution designed to enhance the delivery of the company's customer conference experience through digital means.

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	592,277	147,697	527,539	1,267,513
Additions	-	348	41,738	42,086
Disposals	-	-	(24,149)	(24,149)
At 31 December 2024	592,277	148,045	545,128	1,285,450
Depreciation
At 1 January 2024	446,766	106,366	430,442	983,574
Charge for the year	24,944	9,934	45,412	80,290
Eliminated on disposal	-	-	(17,075)	(17,075)
At 31 December 2024	471,710	116,300	458,779	1,046,789
Carrying amount
At 31 December 2024	120,567	31,745	86,349	238,661
At 31 December 2023	145,511	41,331	97,097	283,939

Included within the net book value of land and buildings above is £120,567 (2023 - £145,511) in respect of short leasehold land and buildings.
 

6

Debtors

Current	2024 £	2023 £
Trade debtors	2,502,683	1,355,219
Prepayments	711,113	400,557
Other debtors	319,146	499,327
	3,532,942	2,255,103

MCCGLC Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		666,667	805,556
Trade creditors		958,544	2,666,443
Taxation and social security		181,600	200,652
Accruals and deferred income		2,070,368	2,222,516
Other creditors		807	948
		3,877,986	5,896,115

Creditors due within one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured in favour of the company's bankers of £666,667 (2023 - £805,556).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		317,130	983,762

Creditors falling due after one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured in favour of the company's bankers of £317,130 (2023 - £983,762).

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £0.0001 (2023 - £1) each	7,630,000	763	763	763

9	Parent and ultimate parent undertaking

The ultimate controlling party is Mr. M. Console Camprini.