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REGISTERED NUMBER: 02037425 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st January 2024

for

MMT Services Limited

MMT Services Limited (Registered number: 02037425)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MMT Services Limited

Company Information
for the Year Ended 31st January 2024







DIRECTOR: A D Bayfield





SECRETARY: Mrs J Bayfield





REGISTERED OFFICE: Lukers Farm
Grittenham
Chippenham
Wiltshire
SN15 4JR





REGISTERED NUMBER: 02037425 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

MMT Services Limited (Registered number: 02037425)

Balance Sheet
31st January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 176,337 108,632
176,337 108,632

CURRENT ASSETS
Stocks 213,161 187,284
Debtors 6 146,450 117,148
Cash at bank 46,076 81,513
405,687 385,945
CREDITORS
Amounts falling due within one year 7 272,567 268,958
NET CURRENT ASSETS 133,120 116,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,457

225,619

CREDITORS
Amounts falling due after more than one
year

8

(145,157

)

(116,815

)

PROVISIONS FOR LIABILITIES (30,610 ) (17,561 )
NET ASSETS 133,690 91,243

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 132,690 90,243
SHAREHOLDERS' FUNDS 133,690 91,243

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

MMT Services Limited (Registered number: 02037425)

Balance Sheet - continued
31st January 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 director and authorised for issue on 15th August 2024 and were signed by:





A D Bayfield - Director


MMT Services Limited (Registered number: 02037425)

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

1. STATUTORY INFORMATION

MMT Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% 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.

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.


MMT Services Limited (Registered number: 02037425)

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 5,351
AMORTISATION
At 1st February 2023
and 31st January 2024 5,351
NET BOOK VALUE
At 31st January 2024 -
At 31st January 2023 -

MMT Services Limited (Registered number: 02037425)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023 470,507
Additions 191,722
Disposals (112,575 )
At 31st January 2024 549,654
DEPRECIATION
At 1st February 2023 361,875
Charge for year 83,062
Eliminated on disposal (71,620 )
At 31st January 2024 373,317
NET BOOK VALUE
At 31st January 2024 176,337
At 31st January 2023 108,632

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 144,639 115,871
Other debtors 1,811 1,277
146,450 117,148

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 50,966 29,759
Trade creditors 86,214 79,154
Taxation and social security 21,848 20,542
Other creditors 103,539 129,503
272,567 268,958

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 9) 130,990 92,648
145,157 116,815

MMT Services Limited (Registered number: 02037425)

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

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 50,966 29,759
Between one and five years 130,990 92,648
181,956 122,407

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 24,167 34,167

The director has given a personal guarantee as security for the bank loan.