Registered number
SC473491
MARKETING MAVENS (SCOTLAND) LTD
Filleted Accounts
31 March 2024
MARKETING MAVENS (SCOTLAND) LTD
Registered number: SC473491
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,591 1
Current assets
Debtors 4 18,877 12,123
Cash at bank and in hand 21,003 50,376
39,880 62,499
Creditors: amounts falling due within one year 5 (32,289) (32,442)
Net current assets 7,591 30,057
Total assets less current liabilities 9,182 30,058
Creditors: amounts falling due after more than one year 6 (6,047) (17,000)
Net assets 3,135 13,058
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,134 13,057
Shareholder's funds 3,135 13,058
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 member has 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.
Mark Connolly
Director
Approved by the board on 13 August 2024
MARKETING MAVENS (SCOTLAND) LTD
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 all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% of cost
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 liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 9
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 April 2023 43,765
Additions 1,988
At 31 March 2024 45,753
Depreciation
At 1 April 2023 43,764
Charge for the year 398
At 31 March 2024 44,162
Net book value
At 31 March 2024 1,591
At 31 March 2023 1
4 Debtors 2024 2023
£ £
Trade debtors 18,877 12,123
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,968 16,500
Trade creditors 200 -
Taxation and social security costs 14,759 14,885
Other creditors 362 1,057
32,289 32,442
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,047 17,000
7 Other information
MARKETING MAVENS (SCOTLAND) LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
C/o Connolly Accountants
188 Woodhill Road
Bishopbriggs
Glasgow
G64 1DW
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