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REGISTERED NUMBER: SC700152 (Scotland)















Unaudited Financial Statements

for the Period 1 November 2021 to 31 May 2022

for

M1 Contracts Limited

M1 Contracts Limited (Registered number: SC700152)






Contents of the Financial Statements
for the Period 1 November 2021 to 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M1 Contracts Limited

Company Information
for the Period 1 November 2021 to 31 May 2022







DIRECTOR: Ms M McKenzie





REGISTERED OFFICE: 65 Arden Avenue
Thornliebank
Glasgow
G46 8PZ





REGISTERED NUMBER: SC700152 (Scotland)





ACCOUNTANTS: CAP Accounting Services
65 Arden Avenue
Thornliebank
Glasgow
G46 8PZ

M1 Contracts Limited (Registered number: SC700152)

Balance Sheet
31 May 2022

Notes £    £   
FIXED ASSETS
Tangible assets 4 61,715

CURRENT ASSETS
Debtors 5 70,128
Cash at bank 61,277
131,405
CREDITORS
Amounts falling due within one year 6 53,915
NET CURRENT ASSETS 77,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,205

CAPITAL AND RESERVES
Called up share capital 10
Retained earnings 139,195
139,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 14 August 2022 and were signed by:





Ms M McKenzie - Director


M1 Contracts Limited (Registered number: SC700152)

Notes to the Financial Statements
for the Period 1 November 2021 to 31 May 2022

1. STATUTORY INFORMATION

M1 Contracts Limited is a private company, limited by shares , registered in Scotland. 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.

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 etc - 25% on cost

Taxation
Taxation for the period 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 period 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 period was 3 .

M1 Contracts Limited (Registered number: SC700152)

Notes to the Financial Statements - continued
for the Period 1 November 2021 to 31 May 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 68,659
At 31 May 2022 68,659
DEPRECIATION
Charge for period 6,944
At 31 May 2022 6,944
NET BOOK VALUE
At 31 May 2022 61,715

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 57,087
Other debtors 13,041
70,128

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 4,633
Taxation and social security 20,444
Other creditors 28,838
53,915