ACCOUNTS - Final Accounts preparation

MCR PROGRAMME CONSULTANCY LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-08-312022-08-311The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-09-01falseconsultancy services1truetrue 09159943 2021-09-01 2022-08-31 09159943 2020-09-01 2021-08-31 09159943 2022-08-31 09159943 2021-08-31 09159943 c:Director1 2021-09-01 2022-08-31 09159943 d:OfficeEquipment 2021-09-01 2022-08-31 09159943 d:OfficeEquipment 2022-08-31 09159943 d:OfficeEquipment 2021-08-31 09159943 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-09-01 2022-08-31 09159943 d:CurrentFinancialInstruments 2022-08-31 09159943 d:CurrentFinancialInstruments 2021-08-31 09159943 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09159943 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 09159943 d:ShareCapital 2022-08-31 09159943 d:ShareCapital 2021-08-31 09159943 d:RetainedEarningsAccumulatedLosses 2022-08-31 09159943 d:RetainedEarningsAccumulatedLosses 2021-08-31 09159943 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 09159943 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-08-31 09159943 c:FRS102 2021-09-01 2022-08-31 09159943 c:AuditExempt-NoAccountantsReport 2021-09-01 2022-08-31 09159943 c:AbridgedAccounts 2021-09-01 2022-08-31 09159943 c:PrivateLimitedCompanyLtd 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Registered number: 09159943

MCR PROGRAMME CONSULTANCY LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2022


MCR PROGRAMME CONSULTANCY LTD REGISTERED NUMBER:09159943

BALANCE SHEET

AS AT 31 AUGUST 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		2,051		1,940
			2,051		1,940
Current assets
Debtors	5	17,847		17,825
Cash at bank and in hand	6	172,727		236,331
		190,574		254,156
Creditors: amounts falling due within one year	7	(14,014)		(25,997)
Net current assets			176,560		228,159
Total assets less current liabilities			178,611		230,099
Net assets			178,611		230,099

Capital and reserves
Called up share capital	100	100
Profit and loss account	178,511	229,999
Shareholders' funds	178,611	230,099

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 income and retained earnings 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 6 March 2023.

Mark Christopher Read

Director

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MCR PROGRAMME CONSULTANCY LTD REGISTERED NUMBER:09159943

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2022

The notes on pages 3 to 7 form part of these financial statements.

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MCR PROGRAMME CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1.	General information

The Company is incorporated in England and Wales and is limited by shares. The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The company’s principal activity continued to be that of consultancy services.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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MCR PROGRAMME CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

2.4

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 balance sheet date in the countries where the Company operates and generates income.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

on a reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of

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MCR PROGRAMME CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

2.9

Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 -1).

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MCR PROGRAMME CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 September 2021	3,418
	Additions	795
	At 31 August 2022	4,213
	Depreciation
	At 1 September 2021	1,478
	Charge for the year on owned assets	684
	At 31 August 2022	2,162
	Net book value
	At 31 August 2022	2,051
	At 31 August 2021	1,940

Debtors

					2022	2021
					£	£


Trade debtors	17,832	17,801
Other debtors	14	24
	17,846	17,825

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	172,727	236,331
	172,727	236,331

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MCR PROGRAMME CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	4,316	23,460
Other creditors	7,538	1,837
Accruals and deferred income	2,160	700
	14,014	25,997

8.	Financial instruments
		2022	2021
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	172,727	236,331

Financial assets measured at fair value through profit or loss comprise...

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £80,000 (2021 - £NIL).

10.	Transactions with directors

ncluded in other creditors due within one year is a loan from the directors, amounting to £(7,538) [2021 - £(1,837)].

11.	Controlling party

The company was controlled throughout the current and previous period by its directors, M Read and J Read, by virtue of the fact that between them they own all of the company’s ordinary issued share capital.

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