REGISTERED NUMBER: |
Mentor M.A. (Scotland) Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
REGISTERED NUMBER: |
Mentor M.A. (Scotland) Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Mentor M.A. (Scotland) Limited |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
36 St Andrew Square |
Edinburgh |
EH2 2AD |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Balance Sheet - continued |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Mentor M.A. (Scotland) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents the gross sales for the provision of training services, plus rental income from investment properties. |
Revenue is recognised in line with performance to the extent that a right to consideration arises. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent. |
Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Provisions |
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2022 |
Disposals | ( |
) |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2008 | (2,886 | ) |
Valuation in 2009 | (2,500 | ) |
Valuation in 2010 | (2,500 | ) |
Valuation in 2014 | 6,055 |
Valuation in 2016 | 40,000 |
Valuation in 2018 | 15,000 |
Valuation in 2019 | 5,000 |
Valuation in 2020 | 15,000 |
Valuation in 2022 | 35,000 |
Cost | 536,831 |
645,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 536,831 | 536,831 |
The property is shown at the directors' estimated valuation at 31 May 2023. The directors are not professional valuers. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
Mentor M.A. (Scotland) Limited (Registered number: SC107198) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Included in other creditors are loans of £100,300 (2022 - £100,300) owed to Mentor M.A. (Scotland) Ltd Retirement Benefit Scheme, an entity under the control of R J Normand who is also one of the trustees. |
Also included in other creditors is a balance of £28,797 (2022 NIL) owed to R J Normand. Directors' current accounts are unsecured, interest-free, and repayable on demand. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
Included in other creditors are loans of £147,796 (2022 - £147,796) owed to Mentor M.A. (Scotland) Ltd Retirement Benefit Scheme, an entity under the control of R J Normand who is also one of the trustees. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 June 2022 |
and 31 May 2023 |
10. | POST BALANCE SHEET EVENTS |
After the balance sheet date but prior to the date of signing, the company purchased an investment property for £135,000. |
11. | SECURED DEBTS |
The Royal Bank Of Scotland holds a bond and floating charge over the assets of the company. |