MCL Telecommunications Group Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04514660 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st August 2023

for

MCL Telecommunications Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Billington

SECRETARY:

L C Billington

REGISTERED OFFICE:

43 Victoria Road

Burgess Hill

West Sussex

RH15 9LR

REGISTERED NUMBER:

04514660 (England and Wales)

ACCOUNTANTS:

Sigma Partners

Delmon House

36-38 Church Road

Burgess Hill

West Sussex

RH15 9AE

FIXED ASSETS

Intangible assets

4

8,849

14,326

Tangible assets

5

34,668

7,536

Investments

6

100

100

43,617

21,962

CURRENT ASSETS

Stocks

1,250

650

Debtors

7

55,102

59,073

Cash at bank

147,530

89,751

203,882

149,474

CREDITORS

Amounts falling due within one year

8

149,278

109,897

NET CURRENT ASSETS

54,604

39,577

TOTAL ASSETS LESS CURRENT LIABILITIES

98,221

61,539

CREDITORS

Amounts falling due after more than one year

9

(21,590

)

-

PROVISIONS FOR LIABILITIES

(1,244

)

(2,458

)

NET ASSETS

75,387

59,081

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

75,287

58,981

SHAREHOLDERS' FUNDS

75,387

59,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 8th January 2024 and were signed by:

D Billington - Director

1.	STATUTORY INFORMATION

MCL Telecommunications Group Ltd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of seven years.

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

-

10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 5 (2022 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st September 2022

and 31st August 2023

38,936

AMORTISATION

At 1st September 2022

24,610

Charge for year

5,477

At 31st August 2023

30,087

NET BOOK VALUE

At 31st August 2023

8,849

At 31st August 2022

14,326

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st September 2022

28,059

Additions

39,445

At 31st August 2023

67,504

DEPRECIATION

At 1st September 2022

20,523

Charge for year

12,313

At 31st August 2023

32,836

NET BOOK VALUE

At 31st August 2023

34,668

At 31st August 2022

7,536

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st September 2022

and 31st August 2023

100

NET BOOK VALUE

At 31st August 2023

100

At 31st August 2022

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

45,106

53,829

Other debtors

9,996

5,244

55,102

59,073

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

28,594

32,451

Taxation and social security

40,403

26,830

Other creditors

80,281

50,616

149,278

109,897

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts

21,590

-

10.	RELATED PARTY DISCLOSURES

Serviced office costs of £125,166 were charged to MCL Telecoms, the subsidiary company, during the year (£95,545 in 2022).

A further working capital loan of £8,162 was owed by the subsidiary company at the balance sheet date (2022 - £2,975 owed to the subsidiary)

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D Billington.