Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mrs Jane Mudd 12/08/2008 Mr Paul Mudd 14/08/2008 02 February 2024 The principal activity of the Company during the financial year was that of management consultancy for the purpose of working across Scotland's public services, to provide expertise and support to organisations, partnerships, teams and individuals in designing and implementing robust, timely and cost effective organisational and leadership development solutions to improve capacity, capability and performance. SC346946 2023-08-31 SC346946 bus:Director1 2023-08-31 SC346946 bus:Director2 2023-08-31 SC346946 2022-08-31 SC346946 core:CurrentFinancialInstruments 2023-08-31 SC346946 core:CurrentFinancialInstruments 2022-08-31 SC346946 core:ShareCapital 2023-08-31 SC346946 core:ShareCapital 2022-08-31 SC346946 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC346946 core:RetainedEarningsAccumulatedLosses 2022-08-31 SC346946 core:OtherPropertyPlantEquipment 2022-08-31 SC346946 core:OtherPropertyPlantEquipment 2023-08-31 SC346946 2021-08-31 SC346946 bus:OrdinaryShareClass1 2023-08-31 SC346946 core:WithinOneYear 2023-08-31 SC346946 core:WithinOneYear 2022-08-31 SC346946 core:BetweenOneFiveYears 2023-08-31 SC346946 core:BetweenOneFiveYears 2022-08-31 SC346946 2022-09-01 2023-08-31 SC346946 bus:FilletedAccounts 2022-09-01 2023-08-31 SC346946 bus:SmallEntities 2022-09-01 2023-08-31 SC346946 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 SC346946 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC346946 bus:Director1 2022-09-01 2023-08-31 SC346946 bus:Director2 2022-09-01 2023-08-31 SC346946 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 SC346946 2021-09-01 2022-08-31 SC346946 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 SC346946 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC346946 (Scotland)

THE MUDD PARTNERSHIP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH THE REGISTRAR

THE MUDD PARTNERSHIP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023

Contents

THE MUDD PARTNERSHIP LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2023
THE MUDD PARTNERSHIP LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,294 2,649
2,294 2,649
Current assets
Debtors 4 39,725 18,815
Cash at bank and in hand 5 131,204 114,079
170,929 132,894
Creditors: amounts falling due within one year 6 ( 104,254) ( 87,914)
Net current assets 66,675 44,980
Total assets less current liabilities 68,969 47,629
Provision for liabilities 7, 8 ( 574) ( 662)
Net assets 68,395 46,967
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 68,295 46,867
Total shareholders' funds 68,395 46,967

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Mudd Partnership Limited (registered number: SC346946) were approved and authorised for issue by the Director on 02 February 2024. They were signed on its behalf by:

Mr Paul Mudd
Director
THE MUDD PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
THE MUDD PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Mudd Partnership Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is King James Vi Business Centre Riverview Business Park, Friarton Road, Perth, PH2 8DY, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and trade discounts.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2022 6,160 6,160
Additions 622 622
At 31 August 2023 6,782 6,782
Accumulated depreciation
At 01 September 2022 3,511 3,511
Charge for the financial year 977 977
At 31 August 2023 4,488 4,488
Net book value
At 31 August 2023 2,294 2,294
At 31 August 2022 2,649 2,649

4. Debtors

2023 2022
£ £
Trade debtors 39,382 18,792
Other debtors 343 23
39,725 18,815

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 131,204 114,079

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 18,409 577
Corporation tax 21,031 15,698
Other taxation and social security 14,045 8,283
Other creditors 50,769 63,356
104,254 87,914

7. Provision for liabilities

2023 2022
£ £
Deferred tax 574 662

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 662) ( 282)
Credited/(charged) to the Statement of Income and Retained Earnings 88 ( 380)
At the end of financial year ( 574) ( 662)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 3,028 4,851
between one and five years 0 2,830
3,028 7,681

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due to directors 43,769 42,643

The above loan is unsecured, interest free and has no fixed terms of repayment.