Mount Digital Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10177597 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

Mount Digital Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Wilson

M J Perls

REGISTERED OFFICE:

The Boardwalk 21 Little Peter Street

Manchester

Greater Manchester

M15 4PS

REGISTERED NUMBER:

10177597 (England and Wales)

ACCOUNTANTS:

Egan Roberts Limited

Chartered Accountants

Suite 46

Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

FIXED ASSETS

Tangible assets

4

4,120

3,305

CURRENT ASSETS

Debtors

5

145,260

87,997

Cash at bank

149,841

79,346

295,101

167,343

CREDITORS

Amounts falling due within one year

6

134,067

84,556

NET CURRENT ASSETS

161,034

82,787

TOTAL ASSETS LESS CURRENT LIABILITIES

165,154

86,092

PROVISIONS FOR LIABILITIES

783

628

NET ASSETS

164,371

85,464

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

164,271

85,364

SHAREHOLDERS' FUNDS

164,371

85,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2021 and were signed on its behalf by:

J Wilson - Director

1.	STATUTORY INFORMATION

Mount Digital Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2020

331

254

5,695

6,280

Additions

-

299

2,701

3,000

At 31 May 2021

331

553

8,396

9,280

DEPRECIATION

At 1 June 2020

165

14

2,796

2,975

Charge for year

83

110

1,992

2,185

At 31 May 2021

248

124

4,788

5,160

NET BOOK VALUE

At 31 May 2021

83

429

3,608

4,120

At 31 May 2020

166

240

2,899

3,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

136,129

87,573

Other debtors

-

424

Prepayments

9,131

-

145,260

87,997

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Prepaid Income

23,950

-

Tax

32,527

17,783

Social security and other taxes

2,566

956

VAT

50,251

32,435

Other creditors

6,057

8,597

Directors' current accounts

16,913

22,261

Accrued expenses

1,803

2,524

134,067

84,556