Mission Agency (Ibiza) Limited - Accounts to registrar (filleted) - small 18.2
Mission Agency (Ibiza) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
MISSION AGENCY (IBIZA) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
MISSION AGENCY (IBIZA) LIMITED (REGISTERED NUMBER: 07890780) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
MISSION AGENCY (IBIZA) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
MISSION AGENCY (IBIZA) LIMITED (REGISTERED NUMBER: 07890780) |
BALANCE SHEET |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved for issue by the director and authorised for issue on |
MISSION AGENCY (IBIZA) LIMITED (REGISTERED NUMBER: 07890780) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
1. | STATUTORY INFORMATION |
Mission Agency (Ibiza) Limited is a |
The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound. |
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from Financial Reporting Standard 102 1A. |
Going Concern |
At 31 December 2020 the company had net current liabilities of £79,868 (2019 net current assets of £12,080). However, the going concern basis of preparation of the financial statements is considered to be appropriate as the company is expected to continue to make profits in the foreseeable future. |
The director is satisfied that despite the Coronavirus pandemic, it is appropriate for the company's financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising and the director has taken steps to minimise the effect on the company and will continue to do so. In the circumstances the director has concluded that no adjustments are required to the financial statements at this time. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
An impairment loss has been recognised in the Profit and loss account, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value. |
Other intangible assets are shares, cryptocurrencies and CFDs. These are not amortised as they have an indefinite useful life but are tested for impairment annually or whenever there is indication that the intangible asset may be impaired. |
Taxation |
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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. |
MISSION AGENCY (IBIZA) LIMITED (REGISTERED NUMBER: 07890780) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial instruments are recognised at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
Disposals | ( |
) |
Impairments | (76,724 | ) |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Corporation tax |
Other creditors |
Directors' current accounts | 37,013 | - |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MISSION AGENCY (IBIZA) LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mission Agency (Ibiza) Limited for the year ended 31 December 2020 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Mission Agency (Ibiza) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mission Agency (Ibiza) Limited and state those matters that we have agreed to state to the director of Mission Agency (Ibiza) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mission Agency (Ibiza) Limited and its director for our work or for this report. |
It is your duty to ensure that Mission Agency (Ibiza) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mission Agency (Ibiza) Limited. You consider that Mission Agency (Ibiza) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Mission Agency (Ibiza) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |