ACCOUNTS - Final Accounts preparation

Registered number: 02395701

MPL TOURS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020


MPL TOURS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


MPL TOURS LIMITED REGISTERED NUMBER:02395701

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2020

		2020		2019
Note		£		£

Fixed assets
Investments	4		1		1
Current assets
Debtors: amounts falling due within one year	5	35		182
Cash at bank and in hand		76,676		76,589
		76,711		76,771
Current liabilities
Creditors: amounts falling due within one year	6	-		(98)
Net current assets			76,711		76,673

Net assets			76,712		76,674

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		76,710	76,672
		76,712	76,674

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 December 2020.

R J Ewbank

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1


MPL TOURS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.	General information

MPL Tours Limited is a limited company incorporated in England and Wales, with its principal place of business and registered office address at 1 Soho Square, London, W1D 3BQ.
The principal activity of the Company is to act as a designated member of MPL Tours (UK) LLP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Valuation of investments

Fixed asset investments are measured at costs less accumulated impairment.

2.4

Debtors

Short term debtors are measured at the transaction price.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institution.

2.6

Creditors

Short term creditors are measured at the transaction price.

Page 2


MPL TOURS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.7

Affiliated undertakings

In these financial statements companies are described as affiliates of MPL Tours Limited if:
a) they have the same shareholders or ultimate shareholders as MPL Tours Limited, or
b) the company is owned by one or more of the shareholders of MPL Tours Limited.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

4.	Fixed asset investments

		Other fixed asset investments
		£
	Cost
	At 1 April 2019	1
	At 31 March 2020	1

The Company is a member of MPL Tours UK (LLP), a limited liability partnership registered in England & Wales.

Page 3


MPL TOURS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Debtors

					2020	2019
					£	£


Amounts owed by group undertakings	33	28
Amounts owed by affiliated undertakings	2	-
Other debtors	-	154
	35	182

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

	Amounts owed to affiliated undertakings	-	98

7.	Share capital
		2020	2019
		£	£

Allotted, called up and fully paid

2 (2019 - 2) Ordinary shares of £1 each	2	2

8.	Controlling party

The directors regard MPL Communications Limited, a company registered in England & Wales as the ultimate parent undertaking.
The controlling party is Sir Paul McCartney.

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2020 was unqualified.

The audit report was signed on 4 December 2020 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 4