Registration number:
MCS Tech LTD
for the Period from 14 April 2021 to 30 April 2022
MCS Tech LTD
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
MCS Tech LTD
Company Information
Director |
Mr Mozhum Ali Shan |
Registered office |
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Accountants |
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MCS Tech LTD
(Registration number: 13334738)
Balance Sheet as at 30 April 2022
Note |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
5,000 |
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Retained earnings |
(154,321) |
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Shareholders' deficit |
(149,321) |
For the financial period ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
MCS Tech LTD
(Registration number: 13334738)
Balance Sheet as at 30 April 2022 (continued)
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MCS Tech LTD
Notes to the Unaudited Financial Statements for the Period from 14 April 2021 to 30 April 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
MCS Tech LTD
Notes to the Unaudited Financial Statements for the Period from 14 April 2021 to 30 April 2022 (continued)
2 |
Accounting policies (continued) |
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 |
15% Reducing Balance |
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:
Asset class |
Amortisation method and rate |
Internally generated software |
Nil |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
MCS Tech LTD
Notes to the Unaudited Financial Statements for the Period from 14 April 2021 to 30 April 2022 (continued)
2 |
Accounting policies (continued) |
Trade creditors
Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
MCS Tech LTD
Notes to the Unaudited Financial Statements for the Period from 14 April 2021 to 30 April 2022 (continued)
Intangible assets |
Internally generated software development costs |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 30 April 2022 |
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Amortisation |
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Carrying amount |
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At 30 April 2022 |
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Tangible assets |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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Additions |
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At 30 April 2022 |
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Depreciation |
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Charge for the period |
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- |
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At 30 April 2022 |
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- |
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Carrying amount |
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At 30 April 2022 |
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Debtors |
Current |
2022 |
Other debtors |
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MCS Tech LTD
Notes to the Unaudited Financial Statements for the Period from 14 April 2021 to 30 April 2022 (continued)
Creditors |
Creditors: amounts falling due within one year
2022 |
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Due within one year |
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Trade creditors |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
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No. |
£ |
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5,000 |