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REGISTERED NUMBER: SC417467 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

25 NOVEMBER 2023 TO 31 MARCH 2024

FOR

M & M VENTURES LTD

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M & M VENTURES LTD

COMPANY INFORMATION
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024







DIRECTORS: M J Mackay
Mrs M Mackay
A Stannard





REGISTERED OFFICE: James Young House Drumshoreland Road
Pumpherston
Livingston
West Lothian
EH53 0LQ





REGISTERED NUMBER: SC417467 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 103,398 107,919
Tangible assets 5 20,164 22,990
123,562 130,909

CURRENT ASSETS
Debtors 6 51,063 46,601
Cash at bank 34,153 37,250
85,216 83,851
CREDITORS
Amounts falling due within one year 7 (59,448 ) (68,188 )
NET CURRENT ASSETS 25,768 15,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,330

146,572

CREDITORS
Amounts falling due after more than one year 8 (22,262 ) (18,141 )

PROVISIONS FOR LIABILITIES (3,231 ) (4,368 )
NET ASSETS 123,837 124,063

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 123,734 123,960
SHAREHOLDERS' FUNDS 123,837 124,063

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





A Stannard - Director


M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

NOTES TO THE FINANCIAL STATEMENTS
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

M & M Ventures Ltd is a private company, limited by shares, registered in Scotland, registration number SC417467. The registered office is James Young House, Drumshoreland Road, Pumpherston, Livingston, West Lothian EH53 0LQ.

The principal activity of the company is Landscape Service Activities.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Sale of goods
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing management involvement with the goods, and the amount of revenue can be measured reliably.

Services
Income from services is recognised when performed, such that risks and rewards have been transferred.

Goodwill
Goodwill is stated at cost less amortisation. Amortisation is calculated in order to write down the cost to the estimated residual values over the period of the estimated useful economic lives. In the absence of a readily ascertainable useful life, this has been set at 10 years in line with the requirements of FRS102.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

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

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2023 - NIL ) .

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 25 November 2023
and 31 March 2024 129,248
AMORTISATION
At 25 November 2023 12,925
Charge for period 12,925
At 31 March 2024 25,850
NET BOOK VALUE
At 31 March 2024 103,398
At 24 November 2023 116,323

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 25 November 2023
and 31 March 2024 52,737
DEPRECIATION
At 25 November 2023 25,852
Charge for period 6,721
At 31 March 2024 32,573
NET BOOK VALUE
At 31 March 2024 20,164
At 24 November 2023 26,885

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,062 46,601
Other debtors 2,001 -
51,063 46,601

M & M VENTURES LTD (REGISTERED NUMBER: SC417467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 NOVEMBER 2023 TO 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,184 9,513
Taxation and social security 53,013 55,768
Other creditors 1,251 2,907
59,448 68,188

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 22,262 18,141