Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08369463 2023-01-01 2023-12-31 08369463 2022-01-01 2022-12-31 08369463 2023-12-31 08369463 2022-12-31 08369463 2022-01-01 08369463 c:Director1 2023-01-01 2023-12-31 08369463 d:MotorVehicles 2023-01-01 2023-12-31 08369463 d:MotorVehicles 2023-12-31 08369463 d:MotorVehicles 2022-12-31 08369463 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08369463 d:FurnitureFittings 2023-01-01 2023-12-31 08369463 d:FurnitureFittings 2023-12-31 08369463 d:FurnitureFittings 2022-12-31 08369463 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08369463 d:OfficeEquipment 2023-01-01 2023-12-31 08369463 d:OfficeEquipment 2023-12-31 08369463 d:OfficeEquipment 2022-12-31 08369463 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08369463 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08369463 d:Goodwill 2023-01-01 2023-12-31 08369463 d:Goodwill 2023-12-31 08369463 d:Goodwill 2022-12-31 08369463 d:CurrentFinancialInstruments 2023-12-31 08369463 d:CurrentFinancialInstruments 2022-12-31 08369463 d:Non-currentFinancialInstruments 2023-12-31 08369463 d:Non-currentFinancialInstruments 2022-12-31 08369463 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08369463 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08369463 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08369463 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08369463 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 08369463 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 08369463 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 08369463 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08369463 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 08369463 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 08369463 d:ShareCapital 2023-12-31 08369463 d:ShareCapital 2022-12-31 08369463 d:RetainedEarningsAccumulatedLosses 2023-12-31 08369463 d:RetainedEarningsAccumulatedLosses 2022-12-31 08369463 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08369463 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08369463 c:FRS102 2023-01-01 2023-12-31 08369463 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08369463 c:FullAccounts 2023-01-01 2023-12-31 08369463 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08369463 6 2023-01-01 2023-12-31 08369463 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08369463










MM LETTINGS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MM LETTINGS LTD
REGISTERED NUMBER: 08369463

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
12,540
20,846

Investments
 6 
1,222,811
502,205

  
1,235,351
523,051

Current assets
  

Debtors: amounts falling due within one year
 7 
62,258
20,444

Cash at bank and in hand
  
12,492
2,867

  
74,750
23,311

Creditors: amounts falling due within one year
 8 
(115,303)
(55,916)

Net current liabilities
  
 
 
(40,553)
 
 
(32,605)

Total assets less current liabilities
  
1,194,798
490,446

Creditors: amounts falling due after more than one year
 9 
(1,029,053)
(345,838)

Provisions for liabilities
  

Deferred tax
 11 
(3,961)
(3,961)

  
 
 
(3,961)
 
 
(3,961)

Net assets
  
161,784
140,647


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
161,781
140,644

  
161,784
140,647


Page 1

 
MM LETTINGS LTD
REGISTERED NUMBER: 08369463
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




D S Gharial
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
straight line
Fixtures and fittings
-
reducing balance
Office equipment
-
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


General information

MM Lettings Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 08369463
The address of its Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
16,500



At 31 December 2023

16,500



Amortisation


At 1 January 2023
16,500



At 31 December 2023

16,500



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 7

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
43,358
44,403
12,777
100,538



At 31 December 2023

43,358
44,403
12,777
100,538



Depreciation


At 1 January 2023
30,983
38,119
10,590
79,692


Charge for the year on owned assets
6,188
1,571
547
8,306



At 31 December 2023

37,171
39,690
11,137
87,998



Net book value



At 31 December 2023
6,187
4,713
1,640
12,540



At 31 December 2022
12,375
6,284
2,187
20,846

Page 8

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2023
502,205


Additions
720,606



At 31 December 2023
1,222,811





7.


Debtors

2023
2022
£
£


Trade debtors
22,765
15,444

Other debtors
39,493
5,000

62,258
20,444



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
78,187
9,948

Trade creditors
3,024
-

Corporation tax
8,885
13,863

Other taxation and social security
1,506
2,006

Other creditors
22,201
28,599

Accruals and deferred income
1,500
1,500

115,303
55,916


Page 9

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
631,921
25,706

Amounts owed to related parties
397,132
320,132

1,029,053
345,838



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
78,187
9,948


78,187
9,948

Amounts falling due 1-2 years

Bank loans
78,437
10,148


78,437
10,148

Amounts falling due 2-5 years

Bank loans
209,346
15,558


209,346
15,558

Amounts falling due after more than 5 years

Bank loans
344,139
-

344,139
-

710,109
35,654


Page 10

 
MM LETTINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Deferred taxation




2023
2022


£

£






At beginning of year
(3,961)
(1,253)


Charged to profit or loss
-
(2,708)



At end of year
(3,961)
(3,961)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,961)
(3,961)

(3,961)
(3,961)


12.


Controlling party

The ultimate controlling party is D S Gharial, a director and shareholder of the ultimate parent company, Nanaak Holdings Ltd.
 
Page 11