Market Infrastructure Services Limited

Market Infrastructure Services Limited

MARKET INFRASTRUCTURE SERVICES LIMITED - Company Information

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1 September 2019 false No description of principal activity Taxfiler 2020.12 10910015business:PrivateLimitedCompanyLtd2019-09-012019-12-31 109100152019-08-31 109100152019-09-012019-12-31 10910015business:AuditExempt-NoAccountantsReport2019-09-012019-12-31 10910015business:FullAccounts2019-09-012019-12-31 109100152019-12-31 10910015business:Director12019-09-012019-12-31 10910015business:RegisteredOffice2019-09-012019-12-31 109100152019-08-31 10910015core:WithinOneYear2019-12-31 10910015core:WithinOneYear2019-08-31 10910015core:ShareCapital2019-12-31 10910015core:ShareCapital2019-08-31 10910015core:RetainedEarningsAccumulatedLosses2019-12-31 10910015core:RetainedEarningsAccumulatedLosses2019-08-31 10910015business:SmallEntities2019-09-012019-12-31 10910015countries:EnglandWales2019-09-012019-12-31 10910015core:PlantMachinery2019-09-012019-12-31 10910015core:ComputerEquipment2019-09-012019-12-31 10910015core:PlantMachinery2019-08-31 10910015core:ComputerEquipment2019-08-31 10910015core:PlantMachinery2019-12-31 10910015core:ComputerEquipment2019-12-31 109100152018-09-012019-08-31 iso4217:GBP xbrli:pure
Company Registration No. 10910015 (England and Wales)
Market Infrastructure Services Limited Unaudited accounts for the period from 1 September 2019 to 31 December 2019
Market Infrastructure Services Limited Unaudited accounts Contents
Page
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Market Infrastructure Services Limited Company Information for the period from 1 September 2019 to 31 December 2019
Director
Martyn Thomas Brush
Company Number
10910015 (England and Wales)
Registered Office
11 MASONS ARMS MEWS LONDON LONDON W1S 1NX UNITED KINGDOM
Accountants
Quantico Analytics Limited SB.104 China Works 100 Black Prince Road London SE1 7SJ
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Market Infrastructure Services Limited Statement of financial position as at 31 December 2019
31/12/2019 
31/08/2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
2,424 
2,217 
Current assets
Debtors
5
5,000 
5,000 
Cash at bank and in hand
552 
6,467 
5,552 
11,467 
Creditors: amounts falling due within one year
6
(80,286)
(62,951)
Net current liabilities
(74,734)
(51,484)
Net liabilities
(72,310)
(49,267)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(72,320)
(49,277)
Shareholders' funds
(72,310)
(49,267)
For the period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2020 and were signed on its behalf by
Martyn Thomas Brush Director Company Registration No. 10910015
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Market Infrastructure Services Limited Notes to the Accounts for the period from 1 September 2019 to 31 December 2019
1
Statutory information
Market Infrastructure Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10910015. The registered office is 11 MASONS ARMS MEWS, LONDON, LONDON, W1S 1NX, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Prior Period Adjustments
The accounts have been restated to incorporate the impact of misclassification between balance sheet accounts. The total impact is decreased net assets of £69,752 and a decrease in net profits of £49,266. The adjustments of misclassification have resulted in the restatement of the following accounts: a. Tangible Assets were understated due to misclassification as an expense rather than capitalized and have therefore been restated from £1,443 to £2,217; b. Cash at Bank and in Hand was overstated due to misclassification of shareholder equity and has therefore been restated from £14,382 to £6,467; c. Trade Creditors were overstated as VAT had not been appropriately recorded and have therefore been restated from £339 to £77; d. Director`s Loan was misclassed as Shareholder Equity and has therefore been adjusted to £62,873.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years on straight line
Computer equipment
2 years on straight line
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Market Infrastructure Services Limited Notes to the Accounts for the period from 1 September 2019 to 31 December 2019
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2019
1,903 
2,233 
4,136 
Additions
- 
597 
597 
At 31 December 2019
1,903 
2,830 
4,733 
Depreciation
At 1 September 2019
337 
1,582 
1,919 
Charge for the period
128 
262 
390 
At 31 December 2019
465 
1,844 
2,309 
Net book value
At 31 December 2019
1,438 
986 
2,424 
At 31 August 2019
1,566 
651 
2,217 
5
Debtors
31/12/2019 
31/08/2019 
£ 
£ 
Other debtors
5,000 
5,000 
6
Creditors: amounts falling due within one year
31/12/2019 
31/08/2019 
£ 
£ 
Taxes and social security
(15,352)
78 
Loans from directors
95,638 
62,873 
80,286 
62,951 
7
Average number of employees
During the period the average number of employees was 0 (31/08/2019: 0).
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