Registered number
SC394747
MMS Building Services Limited
Filleted Accounts
31 March 2024
MMS Building Services Limited
Registered number: SC394747
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,363 15,865
Current assets
Stocks 50,000 50,000
Debtors 4 1,000 39,312
Cash at bank and in hand 22,719 9,547
73,719 98,859
Creditors: amounts falling due within one year 5 (3,354) (28,360)
Net current assets 70,365 70,499
Total assets less current liabilities 83,728 86,364
Creditors: amounts falling due after more than one year 6 (62,882) (79,094)
Net assets 20,846 7,270
Capital and reserves
Called up share capital 10 10
Profit and loss account 20,836 7,260
Shareholders' funds 20,846 7,270
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Miller
Director
Approved by the board on 19 July 2024
MMS Building Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Plant and machinery 15% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 15% on a Reducing Balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that will be carried forwards to be offset against tax due in a future period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 32,506 26,320 58,826
At 31 March 2024 32,506 26,320 58,826
Depreciation
At 1 April 2023 17,752 25,209 42,961
Charge for the year 2,224 278 2,502
At 31 March 2024 19,976 25,487 45,463
Net book value
At 31 March 2024 12,530 833 13,363
At 31 March 2023 14,754 1,111 15,865
4 Debtors 2024 2023
£ £
Trade debtors - 38,312
Other debtors 1,000 1,000
1,000 39,312
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,839 40,925
Corporation tax 2,584 2,514
Other taxes and social security costs (3,069) (15,077)
Other creditors - (2)
3,354 28,360
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director's account 52,998 64,809
Bank loans 9,884 14,285
62,882 79,094
7 Other information
MMS Building Services Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
5 Maryfield Gardens
Glenrothes
Fife
KY6 3NP
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