MC QS Services Ltd

(Registration number: 11112785)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	9,726	12,721
Current assets
Debtors	5	9,971	261
Cash at bank and in hand		28,150	40,257
		38,121	40,518
Creditors: Amounts falling due within one year	6	(35,796)	(29,165)
Net current assets		2,325	11,353
Total assets less current liabilities		12,051	24,074
Creditors: Amounts falling due after more than one year	6	(7,537)	(11,125)
Provisions for liabilities		(2,431)	(3,180)
Net assets		2,083	9,769
Capital and reserves
Called up share capital		10	10
Retained earnings		2,073	9,759
Shareholders' funds		2,083	9,769

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

MC QS Services Ltd

(Registration number: 11112785)
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mr S McCahon Director

MC QS Services Ltd

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 and Wales.

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.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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.

MC QS Services Ltd

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

2	Accounting policies (continued)

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	33% straight line
Motor vehicles	25% reducing balance

MC QS Services Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 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 of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

MC QS Services Ltd

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	4,174	28,251	32,425
Additions	1,180	-	1,180
At 31 December 2024	5,354	28,251	33,605
Depreciation
At 1 January 2024	3,371	16,333	19,704
Charge for the year	1,196	2,979	4,175
At 31 December 2024	4,567	19,312	23,879
Carrying amount
At 31 December 2024	787	8,939	9,726
At 31 December 2023	803	11,918	12,721

MC QS Services Ltd

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

5

Debtors

Current	2024 £	2023 £
Trade debtors	9,653	-
Prepayments	318	261
	9,971	261

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	7	3,587	3,587
Taxation and social security		6,975	4,742
Accruals		3,905	4,448
Other creditors		21,329	16,388
		35,796	29,165

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	7,537	11,125

MC QS Services Ltd

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

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	7,537	11,125

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	3,587	3,587