ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

M O ASSOCIATES LIMITED - Company Information

Print Friendly Version

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-3122021-02-012falseHolding companytruetrue 03698198 2021-02-01 2022-01-31 03698198 2020-04-01 2021-01-31 03698198 2022-01-31 03698198 2021-01-31 03698198 c:Director1 2021-02-01 2022-01-31 03698198 d:CurrentFinancialInstruments 2022-01-31 03698198 d:CurrentFinancialInstruments 2021-01-31 03698198 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03698198 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 03698198 d:ShareCapital 2022-01-31 03698198 d:ShareCapital 2021-01-31 03698198 d:RetainedEarningsAccumulatedLosses 2022-01-31 03698198 d:RetainedEarningsAccumulatedLosses 2021-01-31 03698198 c:OrdinaryShareClass1 2021-02-01 2022-01-31 03698198 c:OrdinaryShareClass1 2022-01-31 03698198 c:OrdinaryShareClass1 2021-01-31 03698198 c:EntityHasNeverTraded 2021-02-01 2022-01-31 03698198 c:FRS102 2021-02-01 2022-01-31 03698198 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 03698198 c:FullAccounts 2021-02-01 2022-01-31 03698198 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 03698198 6 2021-02-01 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03698198









M O ASSOCIATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022
 
M O ASSOCIATES LIMITED
REGISTERED NUMBER: 03698198

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
338
338

  
338
338

Creditors: amounts falling due within one year
 6 
(2)
(2)

Net current assets
  
 
 
336
 
 
336

Total assets less current liabilities
  
338
338

  

Net assets
  
338
338


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
336
336

  
338
338


For the year ended 31 January 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 10 January 2023.




Page 1
 
M O ASSOCIATES LIMITED
REGISTERED NUMBER: 03698198
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2022

M Ogden
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
M O ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. 
The address of its Registered office is 35 Ballards Lane, London, N3 1XW.

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.

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as confirmed as appropriate by the directors of the company. This assumes that there are no material uncertainties related to events or conditions in the foreseable future, being period of at least twelve months from the date of approval of these financial statements that may cast significant doubt about the ability of the company to continue as a going concern.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors and loans to and from related parties.
i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
 
Page 3
 
M O ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)


2.4
Financial instruments (continued)


(ii) Financial liabilities
Basic financial liabilities, including trade other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2021
2



At 31 January 2022
2




Page 4
 
M O ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
338
338



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
2
2



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) Ordinary shares of £1.00 each
2
2


 
Page 5