Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC572483 Mr John Matthew iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC572483 2022-12-31 SC572483 2023-12-31 SC572483 2023-01-01 2023-12-31 SC572483 frs-core:CurrentFinancialInstruments 2023-12-31 SC572483 frs-core:Non-currentFinancialInstruments 2023-12-31 SC572483 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 SC572483 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 SC572483 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 SC572483 frs-core:ShareCapital 2023-12-31 SC572483 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC572483 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC572483 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC572483 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC572483 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC572483 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC572483 frs-core:DeferredTaxation 2023-01-01 2023-12-31 SC572483 frs-core:DeferredTaxation 2022-12-31 SC572483 frs-core:DeferredTaxation 2023-12-31 SC572483 frs-bus:Director1 2023-01-01 2023-12-31 SC572483 frs-countries:Scotland 2023-01-01 2023-12-31 SC572483 2021-12-31 SC572483 2022-12-31 SC572483 2022-01-01 2022-12-31 SC572483 frs-core:CurrentFinancialInstruments 2022-12-31 SC572483 frs-core:Non-currentFinancialInstruments 2022-12-31 SC572483 frs-core:ShareCapital 2022-12-31 SC572483 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC572483
MMS Properties (Scotland) Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC572483
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 251,010 291,010
251,010 291,010
CURRENT ASSETS
Debtors 5 2,100 900
Cash at bank and in hand 9,069 3,359
11,169 4,259
Creditors: Amounts Falling Due Within One Year 6 (200,323 ) (238,130 )
NET CURRENT ASSETS (LIABILITIES) (189,154 ) (233,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 61,856 57,139
Creditors: Amounts Falling Due After More Than One Year 7 (13,645 ) (13,645 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,679 ) (3,059 )
NET ASSETS 45,532 40,435
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 45,522 40,425
SHAREHOLDERS' FUNDS 45,532 40,435
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Matthew
Director
24/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MMS Properties (Scotland) Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC572483 . The registered office is 2nd Floor, Belgrave Court, Rosehall Road, Bellshill, ML4 3NR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover consists of rental income which is recognised on a straight-line basis over the lease term.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Financial Instruments
The company only has basic financial instruments.
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.
Short term trade 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 1 January 2023 291,010
Disposals (40,000 )
As at 31 December 2023 251,010
Net Book Value
As at 31 December 2023 251,010
As at 1 January 2023 291,010
The analysis of the cost or valuation of the above assets is as follows:
Investment Properties
£
At valuation 251,010
251,010
Investment properties were valued on an open market basis on 31 December 2023 by the director.
If investment properties had not been revalued they would have been included at historical cost of £236,910.
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,100 900
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 199,086 236,986
Accruals and deferred income 1,237 1,144
200,323 238,130
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 13,645 13,645
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 3,059 3,059
Deferred taxation (380 ) (380 )
Balance at 31 December 2023 2,679 2,679
The deferred tax provision relates to changes in fair value of investment property.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
10. Related Party Transactions
At 31st December 2023 the amount owed to MMS (Matthew Medical Services) Ltd, a company owned and controlled by the director, was £196,236 (2022 : £236,986). This loan is non-interest bearing and is repayable on demand.
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