Minto Holdings Limited SC651806 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is consultancy. Digita Accounts Production Advanced 6.30.9574.0 true SC651806 2023-02-01 2024-01-31 SC651806 2024-01-31 SC651806 bus:OrdinaryShareClass1 2024-01-31 SC651806 core:CurrentFinancialInstruments 2024-01-31 SC651806 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 SC651806 core:FurnitureFittingsToolsEquipment 2024-01-31 SC651806 bus:SmallEntities 2023-02-01 2024-01-31 SC651806 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC651806 bus:FullAccounts 2023-02-01 2024-01-31 SC651806 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC651806 bus:RegisteredOffice 2023-02-01 2024-01-31 SC651806 bus:Director1 2023-02-01 2024-01-31 SC651806 bus:Director2 2023-02-01 2024-01-31 SC651806 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC651806 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC651806 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 SC651806 countries:Scotland 2023-02-01 2024-01-31 SC651806 2023-01-31 SC651806 core:FurnitureFittingsToolsEquipment 2023-01-31 SC651806 2022-02-01 2023-01-31 SC651806 2023-01-31 SC651806 bus:OrdinaryShareClass1 2023-01-31 SC651806 core:CurrentFinancialInstruments 2023-01-31 SC651806 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 SC651806 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC651806

Minto Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Minto Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Minto Holdings Limited

Company Information

Directors

Mr C Beban

Ms G Downie

Registered office

Minto Cottage
1b Old Perth Road
Milnathort
Kinross
KY13 9YA

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

Minto Holdings Limited

(Registration number: SC651806)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

551

827

Current assets

 

Debtors

346

346

Cash at bank and in hand

 

21,919

27,471

 

22,265

27,817

Creditors: Amounts falling due within one year

5

(7,827)

(8,177)

Net current assets

 

14,438

19,640

Net assets

 

14,989

20,467

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

14,987

20,465

Shareholders' funds

 

14,989

20,467

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr C Beban
Director

 

Minto Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Minto Cottage
1b Old Perth Road
Milnathort
Kinross
KY13 9YA

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Minto Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture fittings & equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Minto Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,379

1,379

At 31 January 2024

1,379

1,379

Depreciation

At 1 February 2023

552

552

Charge for the year

276

276

At 31 January 2024

828

828

Carrying amount

At 31 January 2024

551

551

At 31 January 2023

827

827

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6,992

8,177

Trade creditors

 

835

-

 

7,827

8,177

 

Minto Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2