5 false false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 37,707 5,784 4,788 10,572 27,135 31,923 xbrli:pure xbrli:shares iso4217:GBP 12347167 2022-01-01 2022-12-29 12347167 2022-12-29 12347167 2021-12-31 12347167 2021-01-01 2021-12-31 12347167 2021-12-31 12347167 2020-12-31 12347167 core:FurnitureFittings 2022-01-01 2022-12-29 12347167 bus:Director1 2022-01-01 2022-12-29 12347167 core:FurnitureFittings 2021-12-31 12347167 core:FurnitureFittings 2022-12-29 12347167 core:WithinOneYear 2022-12-29 12347167 core:WithinOneYear 2021-12-31 12347167 core:AfterOneYear 2022-12-29 12347167 core:AfterOneYear 2021-12-31 12347167 core:UKTax 2022-01-01 2022-12-29 12347167 core:UKTax 2021-01-01 2021-12-31 12347167 core:ShareCapital 2022-12-29 12347167 core:ShareCapital 2021-12-31 12347167 core:RetainedEarningsAccumulatedLosses 2022-12-29 12347167 core:RetainedEarningsAccumulatedLosses 2021-12-31 12347167 core:FurnitureFittings 2021-12-31 12347167 bus:SmallEntities 2022-01-01 2022-12-29 12347167 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-29 12347167 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-29 12347167 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-29 12347167 bus:FullAccounts 2022-01-01 2022-12-29
COMPANY REGISTRATION NUMBER: 12347167
M & M OUTDOOR TRADING LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 December 2022
M & M OUTDOOR TRADING LTD
FINANCIAL STATEMENTS
PERIOD FROM 1 JANUARY 2022 TO 29 DECEMBER 2022
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
M & M OUTDOOR TRADING LTD
STATEMENT OF FINANCIAL POSITION
29 December 2022
29 Dec 22
31 Dec 21
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
27,135
31,923
CURRENT ASSETS
Stocks
158,048
148,826
Debtors
7
25,601
25,856
Cash at bank and in hand
14,503
11,550
---------
---------
198,152
186,232
CREDITORS: amounts falling due within one year
8
( 131,192)
( 118,189)
---------
---------
NET CURRENT ASSETS
66,960
68,043
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
94,095
99,966
CREDITORS: amounts falling due after more than one year
9
( 39,942)
( 39,999)
PROVISIONS
( 5,156)
( 1,946)
--------
--------
NET ASSETS
48,997
58,021
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
48,996
58,020
--------
--------
SHAREHOLDERS FUNDS
48,997
58,021
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 December 2022 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M & M OUTDOOR TRADING LTD
STATEMENT OF FINANCIAL POSITION (continued)
29 December 2022
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
M H Edge
Director
Company registration number: 12347167
M & M OUTDOOR TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 JANUARY 2022 TO 29 DECEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 203 Huddersfield Road, Low Moor, Bradford, BD12 0TQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 5 (2021: 5 ).
5. TAX ON (LOSS)/PROFIT
Major components of tax expense
Period from
1 Jan 22 to
Year to
29 Dec 22
31 Dec 21
£
£
Current tax:
UK current tax (income)/expense
( 7)
575
Adjustments in respect of prior periods
283
----
----
Total current tax
276
575
----
----
Deferred tax:
Origination and reversal of timing differences
3,210
1,946
-------
-------
Tax on (loss)/profit
3,486
2,521
-------
-------
6. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 1 January 2022 and 29 December 2022
37,707
--------
Depreciation
At 1 January 2022
5,784
Charge for the period
4,788
--------
At 29 December 2022
10,572
--------
Carrying amount
At 29 December 2022
27,135
--------
At 31 December 2021
31,923
--------
7. DEBTORS
29 Dec 22
31 Dec 21
£
£
Other debtors
25,601
25,856
--------
--------
8. CREDITORS: amounts falling due within one year
29 Dec 22
31 Dec 21
£
£
Bank loans and overdrafts
6,537
10,000
Trade creditors
82,211
70,344
Corporation tax
11,362
10,427
Social security and other taxes
17,605
7,660
Other creditors
18
13,030
Other creditors 2 - desc in a/cs
11,432
Other creditors
2,027
6,728
---------
---------
131,192
118,189
---------
---------
9. CREDITORS: amounts falling due after more than one year
29 Dec 22
31 Dec 21
£
£
Bank loans and overdrafts
39,942
39,999
--------
--------