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REGISTERED NUMBER: 06694414 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

MMIT LIMITED

MMIT LIMITED (REGISTERED NUMBER: 06694414)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MMIT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: H J Ranson





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 06694414 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

MMIT LIMITED (REGISTERED NUMBER: 06694414)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 396
Investments 5 126,944 127,675
126,944 128,071

CURRENT ASSETS
Debtors 6 - 13
Cash at bank 13,812 92
13,812 105
CREDITORS
Amounts falling due within one year 7 3,875 895
NET CURRENT ASSETS/(LIABILITIES) 9,937 (790 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,881

127,281

PROVISIONS FOR LIABILITIES 8 6,126 24,333
NET ASSETS 130,755 102,948

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 130,754 102,947
SHAREHOLDERS' FUNDS 130,755 102,948

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 6 September 2022 and were signed by:




H J Ranson - Director


MMIT LIMITED (REGISTERED NUMBER: 06694414)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

MMIT Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence.

The directors do not anticipate that the recent COVID-19 outbreak will affect the company's ability to continue for the foreseeable future and therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

MMIT LIMITED (REGISTERED NUMBER: 06694414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2021
and 31 March 2022 1,395
DEPRECIATION
At 1 April 2021 999
Charge for year 396
At 31 March 2022 1,395
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 396

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2021 127,675
Revaluations (731 )
At 31 March 2022 126,944
NET BOOK VALUE
At 31 March 2022 126,944
At 31 March 2021 127,675

Cost or valuation at 31 March 2022 is represented by:

Listed
investments
£   
Valuation in 2015 (22,959 )
Valuation in 2016 (3,851 )
Valuation in 2017 24,288
Valuation in 2018 (18,960 )
Valuation in 2019 29,115
Valuation in 2020 (23,152 )
Valuation in 2021 48,194
Valuation in 2022 (731 )
Cost 95,000
126,944

Initially the fixed asset investments are recognised at cost.

Subsequently the fixed asset investments are measured at fair value with any changes in fair value being recognised in profit and loss.

Because of the nature of the investment currently held, the basis for determining the fair value of the fixed asset investments is from a quoted market price in an active market.

MMIT LIMITED (REGISTERED NUMBER: 06694414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors - 13

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 2,542 -
Other creditors 1,333 895
3,875 895

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 6,126 24,333

Deferred
tax
£   
Balance at 1 April 2021 24,333
Movement (18,207 )
Balance at 31 March 2022 6,126