Company registration number SC280205 (Scotland)
MENNEER (INVESTMENT & CONSULTANCY) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MENNEER (INVESTMENT & CONSULTANCY) LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
MENNEER (INVESTMENT & CONSULTANCY) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
1,140
Current assets
Debtors
4
47,178
43,759
Creditors: amounts falling due within one year
5
(48,356)
(49,730)
Net current liabilities
(1,178)
(5,971)
Total assets less current liabilities
(1,178)
(4,831)
Creditors: amounts falling due after more than one year
Loans and overdrafts
16,006
18,610
(16,006)
(18,610)
Net liabilities
(17,184)
(23,441)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(17,186)
(23,443)
Total equity
(17,184)
(23,441)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
S Menneer
Director
Company Registration No. SC280205
MENNEER (INVESTMENT & CONSULTANCY) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
2
98,367
98,369
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(121,810)
(121,810)
Balance at 31 December 2022
2
(23,443)
(23,441)
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
6,257
6,257
Balance at 31 December 2023
2
(17,186)
(17,184)
MENNEER (INVESTMENT & CONSULTANCY) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Menneer (Investment & Consultancy) Ltd is a private company limited by shares incorporated in Scotland. The registered office can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

On 30 June 2023, the company ceased trading and as such, the financial statements have been prepared on a basis other than going concern.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MENNEER (INVESTMENT & CONSULTANCY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Tangible fixed assets
Computers
£
Cost
At 1 January 2023
4,550
Disposals
(1,007)
At 31 December 2023
3,543
Depreciation and impairment
At 1 January 2023
3,410
Depreciation charged in the year
637
Eliminated in respect of disposals
(504)
At 31 December 2023
3,543
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
1,140
MENNEER (INVESTMENT & CONSULTANCY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
11,905
11,042
Other debtors
35,273
32,717
47,178
43,759
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,526
4,619
Trade creditors
-
0
1,342
Corporation tax
10,984
16,380
Other taxation and social security
-
0
1,486
Other creditors
24,999
22,118
Accruals and deferred income
4,847
3,785
48,356
49,730
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
16,006
18,610
MENNEER (INVESTMENT & CONSULTANCY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Related party transactions

 

At the balance sheet date, the directors owed the company £35,273 (2022 £32,717).

 

Interest in the sum of £756.37 has been charged on the loan during the year based on a 2.25% interest rate.

The loan is unsecured and repayable on demand.

 

The directors have granted a personal guarantee in respect of the balance included in other creditors of £24,999 (2022 - £22,118).

 

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