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false
false
false
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true
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No description of principal activity
2019-11-01
Sage Accounts Production Advanced 2020 - FRS102_2019
6,769
412
7,181
1,692
1,372
3,064
4,117
5,077
xbrli:pure
xbrli:shares
iso4217:GBP
11630206
2019-11-01
2020-10-31
11630206
2020-10-31
11630206
2019-10-31
11630206
2018-10-18
2019-10-31
11630206
2019-10-31
11630206
bus:RegisteredOffice
2019-11-01
2020-10-31
11630206
bus:OrdinaryShareClass1
2019-11-01
2020-10-31
11630206
bus:LeadAgentIfApplicable
2019-11-01
2020-10-31
11630206
bus:Director1
2019-11-01
2020-10-31
11630206
core:WithinOneYear
2020-10-31
11630206
core:WithinOneYear
2019-10-31
11630206
core:ShareCapital
2020-10-31
11630206
core:ShareCapital
2019-10-31
11630206
core:RetainedEarningsAccumulatedLosses
2020-10-31
11630206
core:RetainedEarningsAccumulatedLosses
2019-10-31
11630206
bus:SmallEntities
2019-11-01
2020-10-31
11630206
bus:AuditExemptWithAccountantsReport
2019-11-01
2020-10-31
11630206
bus:FullAccounts
2019-11-01
2020-10-31
11630206
bus:SmallCompaniesRegimeForAccounts
2019-11-01
2020-10-31
11630206
bus:PrivateLimitedCompanyLtd
2019-11-01
2020-10-31
11630206
bus:OrdinaryShareClass1
2020-10-31
11630206
bus:OrdinaryShareClass1
2019-10-31
11630206
core:ToolsEquipment
2019-11-01
2020-10-31
11630206
core:ToolsEquipment
2019-10-31
11630206
core:ToolsEquipment
2020-10-31
COMPANY REGISTRATION NUMBER:
11630206
Missing Link Engineering Ltd
|
|
Filleted Unaudited Financial Statements
|
|
Missing Link Engineering Ltd
|
|
Year ended 31 October 2020
Officers and professional advisers
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
4
|
|
|
Missing Link Engineering Ltd
|
|
Officers and Professional Advisers
|
|
Registered office
|
550 Valley Road
|
|
Basford
|
|
Nottingham
|
|
NG5 1JJ
|
|
|
Accountants
|
Swandec
|
|
Chartered Accountants
|
|
550 Valley Road
|
|
Basford
|
|
Nottingham
|
|
NG5 1JJ
|
|
|
Bankers
|
National Westminster
|
|
52 Rectory Road
|
|
West Bridgford
|
|
Nottingham
|
|
NG2 6FF
|
|
|
Missing Link Engineering Ltd
|
|
Statement of Financial Position
|
|
31 October 2020
Fixed assets
Tangible assets
|
4
|
|
4,117
|
5,077
|
|
|
|
|
|
Current assets
Debtors
|
5
|
19,357
|
|
–
|
Cash at bank and in hand
|
30,340
|
|
50,737
|
|
--------
|
|
--------
|
|
49,697
|
|
50,737
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
9,214
|
|
27,007
|
|
--------
|
|
--------
|
Net current assets
|
|
40,483
|
23,730
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
44,600
|
28,807
|
|
|
|
|
|
Provisions
|
|
428
|
535
|
|
|
--------
|
--------
|
Net assets
|
|
44,172
|
28,272
|
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
|
1
|
1
|
Profit and loss account
|
|
44,171
|
28,271
|
|
|
--------
|
--------
|
Shareholders funds
|
|
44,172
|
28,272
|
|
|
--------
|
--------
|
|
|
|
|
|
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 income statement has not been delivered.
For the year ending 31 October 2020 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 financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Missing Link Engineering Ltd
|
|
Statement of Financial Position (continued)
|
|
31 October 2020
These financial statements were approved by the
board of directors
and authorised for issue on
21 March 2021
, and are signed on behalf of the board by:
Company registration number:
11630206
Missing Link Engineering Ltd
|
|
Notes to the Financial Statements
|
|
Year ended 31 October 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Equipment
|
-
|
25% reducing balance
|
|
|
|
|
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Defined contribution plans
The company contributes to the director's private pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,600.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
1
).
4.
Tangible assets
|
Equipment
|
|
£
|
Cost
|
|
At 1 November 2019
|
6,769
|
Additions
|
412
|
|
-------
|
At 31 October 2020
|
7,181
|
|
-------
|
Depreciation
|
|
At 1 November 2019
|
1,692
|
Charge for the year
|
1,372
|
|
-------
|
At 31 October 2020
|
3,064
|
|
-------
|
Carrying amount
|
|
At 31 October 2020
|
4,117
|
|
-------
|
At 31 October 2019
|
5,077
|
|
-------
|
|
|
5.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
19,093
|
–
|
Other debtors
|
264
|
–
|
|
--------
|
----
|
|
19,357
|
–
|
|
--------
|
----
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Corporation tax
|
8,995
|
7,036
|
Other creditors
|
219
|
19,971
|
|
-------
|
--------
|
|
9,214
|
27,007
|
|
-------
|
--------
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2020
|
2019
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
8.
Director's advances, credits and guarantees
At the statement of financial position date, the amount owing to the director through the directors loan account was £219 (2019: £19,971). The directors loan is unsecured, interest free and repayable on demand.