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REGISTERED NUMBER: SC479137 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 December 2023

for

M Squared (Scotland) Ltd

M Squared (Scotland) Ltd (Registered number: SC479137)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

M Squared (Scotland) Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTOR: K R McEwan





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC479137 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

M Squared (Scotland) Ltd (Registered number: SC479137)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 592,047 619,851

CURRENT ASSETS
Stocks 148,937 148,937
Debtors 5 1,555,743 1,481,091
Cash at bank and in hand 504,422 260,172
2,209,102 1,890,200
CREDITORS
Amounts falling due within one year 6 1,341,158 1,304,268
NET CURRENT ASSETS 867,944 585,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,459,991

1,205,783

CREDITORS
Amounts falling due after more than one
year

7

(351,497

)

(466,284

)

PROVISIONS FOR LIABILITIES 9 (84,356 ) (84,286 )
NET ASSETS 1,024,138 655,213

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,024,137 655,212
SHAREHOLDERS' FUNDS 1,024,138 655,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Squared (Scotland) Ltd (Registered number: SC479137)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 28 October 2024 and were signed by:





K R McEwan - Director


M Squared (Scotland) Ltd (Registered number: SC479137)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

M Squared (Scotland) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

Creditors
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.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

Taxation
Taxation for the year 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 balance sheet date.


M Squared (Scotland) Ltd (Registered number: SC479137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Debt financing
The company makes use of an invoice financing facility. The parameters allow the company to be funded for 60% of their applications for payments and 60% for their invoices, up to £200,000. The company is charged for this and these costs are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 174,728 327,431 15,143
Additions - 6,079 -
At 31 December 2023 174,728 333,510 15,143
DEPRECIATION
At 1 January 2023 11,461 194,084 6,584
Charge for year 3,495 37,353 2,820
At 31 December 2023 14,956 231,437 9,404
NET BOOK VALUE
At 31 December 2023 159,772 102,073 5,739
At 31 December 2022 163,267 133,347 8,559

M Squared (Scotland) Ltd (Registered number: SC479137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 420,334 53,133 990,769
Additions 103,893 10,486 120,458
At 31 December 2023 524,227 63,619 1,111,227
DEPRECIATION
At 1 January 2023 123,850 34,939 370,918
Charge for year 92,180 12,414 148,262
At 31 December 2023 216,030 47,353 519,180
NET BOOK VALUE
At 31 December 2023 308,197 16,266 592,047
At 31 December 2022 296,484 18,194 619,851

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,110,561 1,016,110
Other debtors 445,182 464,981
1,555,743 1,481,091

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 78,495 85,630
Hire purchase contracts 133,422 130,590
Trade creditors 715,060 762,339
Taxation and social security 270,075 133,476
Other creditors 144,106 192,233
1,341,158 1,304,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 108,326 186,821
Hire purchase contracts 243,171 279,463
351,497 466,284

M Squared (Scotland) Ltd (Registered number: SC479137)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

8. SECURED DEBTS

The bank hold the following securities:
1. Floating charge covers all the property or undertaking of the company.

Ultimate Finance hold the following securities:
1. Floating charge covers all the property or undertaking of the company.

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 84,356 84,286

Deferred
tax
£   
Balance at 1 January 2023 84,286
Provided during year 70
Balance at 31 December 2023 84,356

10. RELATED PARTY DISCLOSURES

Included in the balance sheet are amounts owed to/from companies under common ownership.

At the year end date Lily and Moon Ltd owed £4,997 (2022 - £4,997), Moorlodge Estates Ltd owed £49,000 (2022 - £45,739) and Moorlodge Residential owed £23,227 (2022 - £92,659) to M Squared (Scotland) Ltd.

M Squared (Scotland) Ltd owed £77,118 (2022 - £43,568) to Simply Gardening Ltd at the year end.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
M Squared (Scotland) Ltd

The following reproduces the text of the report prepared for the director 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 Director 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 M Squared (Scotland) Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of M Squared (Scotland) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M Squared (Scotland) Ltd and state those matters that we have agreed to state to the director of M Squared (Scotland) Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that M Squared (Scotland) 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 profit of M Squared (Scotland) Ltd. You consider that M Squared (Scotland) 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 M Squared (Scotland) 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


28 October 2024