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REGISTERED NUMBER: SC441323 (Scotland)















M-Dens Ltd.

Financial Statements For The Year Ended 31 January 2024






M-Dens Ltd. (Registered number: SC441323)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M-Dens Ltd.

Company Information
For The Year Ended 31 January 2024







DIRECTOR: Dr J M Balbas



REGISTERED OFFICE: 2 Clifton Road
Lossiemouth
Moray
IV31 6DJ



REGISTERED NUMBER: SC441323 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: The Co-operative Bank
BUSINESS DIRECT
PO Box 250
Skelmerdale
WN8 6WT

M-Dens Ltd. (Registered number: SC441323)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 285,173 342,208
Tangible assets 5 179,688 216,482
Investments 6 758,406 250,089
Investment property 7 343,207 225,219
1,566,474 1,033,998

CURRENT ASSETS
Stocks 8,000 6,000
Debtors 8 154,089 52,089
Cash at bank and in hand 136,333 474,394
298,422 532,483
CREDITORS
Amounts falling due within one year 9 226,419 189,714
NET CURRENT ASSETS 72,003 342,769
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,638,477

1,376,767

PROVISIONS FOR LIABILITIES 10 9,810 13,429
NET ASSETS 1,628,667 1,363,338

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,628,567 1,363,238
SHAREHOLDERS' FUNDS 1,628,667 1,363,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

M-Dens Ltd. (Registered number: SC441323)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Dr J M Balbas - Director


M-Dens Ltd. (Registered number: SC441323)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

M-Dens Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Equipment - 33% on cost, 20% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


M-Dens Ltd. (Registered number: SC441323)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 570,348
AMORTISATION
At 1 February 2023 228,140
Charge for year 57,035
At 31 January 2024 285,175
NET BOOK VALUE
At 31 January 2024 285,173
At 31 January 2023 342,208

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property Equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 173,577 161,019 30,972 6,706 372,274
Additions - 663 - 912 1,575
At 31 January 2024 173,577 161,682 30,972 7,618 373,849
DEPRECIATION
At 1 February 2023 27,772 98,579 25,856 3,585 155,792
Charge for year 6,943 27,004 3,076 1,346 38,369
At 31 January 2024 34,715 125,583 28,932 4,931 194,161
NET BOOK VALUE
At 31 January 2024 138,862 36,099 2,040 2,687 179,688
At 31 January 2023 145,805 62,440 5,116 3,121 216,482

M-Dens Ltd. (Registered number: SC441323)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023 250,089
Additions 479,000
Share of profit/(loss) 29,317
At 31 January 2024 758,406
NET BOOK VALUE
At 31 January 2024 758,406
At 31 January 2023 250,089

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 225,219
Additions 117,988
At 31 January 2024 343,207
NET BOOK VALUE
At 31 January 2024 343,207
At 31 January 2023 225,219

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 44,311 52,089
Other debtors 109,778 -
154,089 52,089

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 30,490 23,541
Taxation and social security 103,633 82,571
Other creditors 92,296 83,602
226,419 189,714

10. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 9,810 13,429

M-Dens Ltd. (Registered number: SC441323)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 13,429
Provided during year (3,619 )
Balance at 31 January 2024 9,810

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
90 Ordinary 1 90 90
10 A Ordinary 1 10 10
100 100

12. RESERVES
Retained
earnings
£   

At 1 February 2023 1,363,238
Profit for the year 321,329
Dividends (56,000 )
At 31 January 2024 1,628,567

13. CAPITAL COMMITMENTS
31.1.24 31.1.23
£    £   
Contracted but not provided for in the
financial statements 4,125 20,625

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £56,000 (2023 - £59,000) were paid to the director .

At 31 January 2023 the company owed the director £78,035. During the year the director met expenses on behalf of the company totalling £4,699. At 31 January 2024 the company owed the director £82,734. This loan is interest free and has no fixed terms of repayment.