MIH (Make It Happen) Solutions Ltd - Period Ending 2017-05-31

MIH (Make It Happen) Solutions Ltd - Period Ending 2017-05-31


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Registration number: 07625352

MIH (Make It Happen) Solutions Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2017

Voice & Co Accountancy Services Limited
Chartered Accountants
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX

 

MIH (Make It Happen) Solutions Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Abridged Financial Statements

5 to 7

 

MIH (Make It Happen) Solutions Ltd

Company Information

Director

Ms Josephine Victoria Yeaman

Registered office

16 Midway Road
Swadlincote
Derbyshire
DE11 7NT

Accountants

Voice & Co Accountancy Services Limited
Chartered Accountants
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MIH (Make It Happen) Solutions Ltd
for the Year Ended 31 May 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MIH (Make It Happen) Solutions Ltd for the year ended 31 May 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of MIH (Make It Happen) Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MIH (Make It Happen) Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of MIH (Make It Happen) Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MIH (Make It Happen) Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MIH (Make It Happen) Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MIH (Make It Happen) Solutions Ltd. You consider that MIH (Make It Happen) Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MIH (Make It Happen) Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Voice & Co Accountancy Services Limited
Chartered Accountants
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX

5 December 2017

 

MIH (Make It Happen) Solutions Ltd

(Registration number: 07625352)
Abridged Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

4,410

397

Current assets

 

Debtors

10,742

2,654

Cash at bank and in hand

 

139,663

111,985

 

150,405

114,639

Creditors: Amounts falling due within one year

(60,319)

(91,045)

Net current assets

 

90,086

23,594

Total assets less current liabilities

 

94,496

23,991

Provisions for liabilities

(838)

(79)

Accruals and deferred income

 

(1,280)

(1,345)

Net assets

 

92,378

22,567

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

92,278

22,467

Total equity

 

92,378

22,567

 

MIH (Make It Happen) Solutions Ltd

(Registration number: 07625352)
Abridged Balance Sheet as at 31 May 2017

For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 5 December 2017
 

.........................................

Ms Josephine Victoria Yeaman

Director

 

MIH (Make It Happen) Solutions Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

1

General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
16 Midway Road
Swadlincote
Derbyshire
DE11 7NT

These financial statements were authorised for issue by the director on 5 December 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight Line

Computer Equipment

25 % Reducing Balance

Fixtures and fittings

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

MIH (Make It Happen) Solutions Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

MIH (Make It Happen) Solutions Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

3

Tangible assets

Total
£

Cost or valuation

At 1 June 2016

3,144

Additions

5,880

At 31 May 2017

9,024

Depreciation

At 1 June 2016

2,747

Charge for the year

1,867

At 31 May 2017

4,614

Carrying amount

At 31 May 2017

4,410

At 31 May 2016

397

4

Dividends

 

2017

2016

 

£

£

Interim dividend of £541.54 (2016 - £1,051.28) per ordinary share

54,154

105,128