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REGISTERED NUMBER: SC215878 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

M3W Ltd

M3W Ltd (Registered number: SC215878)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

M3W Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs A M Hamer
Mrs L M Davidson





REGISTERED OFFICE: 119 Shore Street
Fraserburgh
Aberdeenshire
AB43 9BR





REGISTERED NUMBER: SC215878 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

M3W Ltd (Registered number: SC215878)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,902 33,479
Tangible assets 5 - 721
29,902 34,200

CURRENT ASSETS
Debtors 6 43,174 18,864
Cash at bank and in hand 71,454 67,224
114,628 86,088
CREDITORS
Amounts falling due within one year 7 109,371 93,732
NET CURRENT ASSETS/(LIABILITIES) 5,257 (7,644 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,159

26,556

CREDITORS
Amounts falling due after more than one
year

8

(15,528

)

(21,001

)

PROVISIONS FOR LIABILITIES - (137 )
NET ASSETS 19,631 5,418

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 18,631 4,418
SHAREHOLDERS' FUNDS 19,631 5,418

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

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

The directors acknowledge their 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.

M3W Ltd (Registered number: SC215878)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




Mrs A M Hamer - Director



Mrs L M Davidson - Director


M3W Ltd (Registered number: SC215878)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

M3W 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 represents net commissions earned, less provisions made for clawback.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty 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.

Computer software & website development costs is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings & equipment - 15% on cost
Computer equipment - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

M3W Ltd (Registered number: SC215878)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 46,539 5,000 51,539
AMORTISATION
At 1 April 2023 16,289 1,771 18,060
Charge for year 2,327 1,250 3,577
At 31 March 2024 18,616 3,021 21,637
NET BOOK VALUE
At 31 March 2024 27,923 1,979 29,902
At 31 March 2023 30,250 3,229 33,479

'Other intangible assets' comprise website development costs.

5. TANGIBLE FIXED ASSETS
Fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 16,076 4,501 20,577
DEPRECIATION
At 1 April 2023 16,076 3,780 19,856
Charge for year - 721 721
At 31 March 2024 16,076 4,501 20,577
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - 721 721

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 43,174 18,864

M3W Ltd (Registered number: SC215878)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 2,836 2,803
Trade creditors 84,627 70,974
Taxation and social security 6,245 3,951
Other creditors 15,663 16,004
109,371 93,732

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 15,528 18,541
Other creditors - 2,460
15,528 21,001

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,447 6,776

9. RELATED PARTY DISCLOSURES

The directors operate current accounts with the company and as at the financial year end the combined balance owing to them was £8,916 (2023 - £8,916). Whilst the loans to the company are considered short term, there are no fixed terms of repayment and no interest is accrued.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M3W Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M3W Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of M3W Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M3W Ltd and state those matters that we have agreed to state to the Board of Directors of M3W Ltd, as a body, in this report..To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M3W Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of M3W Ltd. You consider that M3W Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M3W Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA


26 September 2024