M2C Innovation Ltd - Accounts to registrar (filleted) - small 18.1
M2C Innovation Ltd - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| M2C INNOVATION LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| M2C INNOVATION LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2nd Floor Exchange Building |
| 16 St Cuthberts Street |
| Bedford |
| Bedfordshire |
| MK40 3JG |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| BALANCE SHEET |
| 31 DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2017 |
| 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 on |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| M2C Innovation Ltd is a |
| number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in |
| operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in |
| preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for |
| goods supplied and services rendered, stated net of discounts and Value Added Tax. |
| Tangible fixed assets |
| Plant and equipment | - |
| Office equipment | - |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Due allowance is made |
| for obsolete and slow moving items. Cost includes all cost of purchase, costs of conversion and other costs incurred in |
| bringing the stock to its present location and condition. |
| 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. |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Office |
| equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| VAT |
| M2C INNOVATION LTD (REGISTERED NUMBER: 06230729) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | - | 817 |
| Other creditors |
| Director's loan account | 40,137 | 39,034 |
| Accrued expenses |
| 8. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 353 | - |
| Deferred |
| tax |
| £ |
| Accelerated capital allowances | 353 |
| Balance at 31 December 2017 |
| 9. | RELATED PARTY DISCLOSURES |
| Within creditors is an amount of £40,137 (2016: £39,034) due to J M Thorpe, director. No interest has been charged on this |
| balance during the year (2016: £Nil) and there are no set repayment terms. |