MDesigns Associates Ltd Filleted accounts for Companies House (small and micro)
MDesigns Associates Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08045595
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Financial Statements |
Year ended 30 April 2023
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
2 |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
30 January 2024
, and are signed on behalf of the board by:
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Director |
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Company registration number:
08045595
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Notes to the Financial Statements |
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Cheltenham, Gloucestershire, GL51 6TQ, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment |
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33% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
Equipment |
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£ |
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Cost |
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At 1 May 2022 and 30 April 2023 |
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Depreciation |
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At 1 May 2022 and 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
– |
------- |
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At 30 April 2022 |
– |
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6.
Debtors
2023 |
2022 |
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£ |
£ |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Corporation tax |
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Other creditors |
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8.
Director's advances, credits and guarantees
There were no material transactions with Directors during the year that were not concluded under normal market conditions.
9.
Related party transactions
The company was under the control of Miss T M Mander throughout the current and previous year. Miss T M Mander is the managing director and majority shareholder. Included in creditors falling due within one year are amounts due to the director, Miss T M Mander of £4,621 (2021: £7,227). These amounts have no repayment terms and attract no interest.