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REGISTERED NUMBER: SC185579















MORTGAGE MASTER (GLASGOW) LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113 169
Investments 5 5,414 4,178
5,527 4,347

CURRENT ASSETS
Debtors 6 7,190 12,683
Cash at bank and in hand 55,221 81,308
62,411 93,991
CREDITORS
Amounts falling due within one year 7 7,834 11,471
NET CURRENT ASSETS 54,577 82,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,104

86,867

PROVISIONS FOR LIABILITIES 22 32
NET ASSETS 60,082 86,835

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 3,578 2,342
Retained earnings 56,404 84,393
SHAREHOLDERS' FUNDS 60,082 86,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





J B Bradman - Director


MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Mortgage Master (Glasgow) Ltd. is a private company, limited by shares, registered in Scotland. The company's registered office is 7 St Marnock Street, Kilmarnock, Ayrshire, KA1 1DZ.

The financial statements are presented in 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.

There were no material departures from that standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Turnover
Turnover represents commissions receivable for the year under review. The company's policy is to recognise commissions in the period in which the services have been provided to the clients.

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.

Plant and machinery etc - 33% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from related parties and investments.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Fixed asset investments
Equity investments are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs, where the investment is subsequently measured at fair value through profit and loss account). Subsequently, they are measured at fair value through profit and loss. Gains or losses arising on revaluation are then transferred from profit and loss reserves to a non-distributable fair value reserve in the balance sheet.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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.

Operating leases
Operating lease rentals are charged to the profit and loss account on a straight line basis over the lease term.

MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 11,785
DEPRECIATION
At 1 November 2022 11,616
Charge for year 56
At 31 October 2023 11,672
NET BOOK VALUE
At 31 October 2023 113
At 31 October 2022 169

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 November 2022 4,178
Revaluations 1,236
At 31 October 2023 5,414
NET BOOK VALUE
At 31 October 2023 5,414
At 31 October 2022 4,178

MORTGAGE MASTER (GLASGOW) LTD. (REGISTERED NUMBER: SC185579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2019 624
Valuation in 2020 659
Valuation in 2021 3,272
Valuation in 2022 (2,213 )
Valuation in 2023 1,236
Cost 1,836
5,414

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,929 8,274
Other debtors 5,261 4,409
7,190 12,683

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,746 1,141
Taxation and social security 1,079 7,085
Other creditors 3,009 3,245
7,834 11,471