2023-04-012024-03-312024-03-31false10631372M&M OIL ASSOCIATES LTD2024-11-12iso4217:GBPxbrli:pure106313722023-04-01106313722024-03-31106313722023-04-012024-03-31106313722022-04-01106313722023-03-31106313722022-04-012023-03-3110631372bus:SmallEntities2023-04-012024-03-3110631372bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3110631372bus:FullAccounts2023-04-012024-03-3110631372bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110631372core:WithinOneYear2024-03-3110631372core:AfterOneYear2024-03-3110631372core:WithinOneYear2023-03-3110631372core:AfterOneYear2023-03-3110631372core:ShareCapital2024-03-3110631372core:SharePremium2024-03-3110631372core:RevaluationReserve2024-03-3110631372core:OtherReservesSubtotal2024-03-3110631372core:RetainedEarningsAccumulatedLosses2024-03-3110631372core:ShareCapital2023-03-3110631372core:SharePremium2023-03-3110631372core:RevaluationReserve2023-03-3110631372core:OtherReservesSubtotal2023-03-3110631372core:RetainedEarningsAccumulatedLosses2023-03-3110631372core:LandBuildings2024-03-3110631372core:PlantMachinery2024-03-3110631372core:Vehicles2024-03-3110631372core:FurnitureFittings2024-03-3110631372core:OfficeEquipment2024-03-3110631372core:NetGoodwill2024-03-3110631372core:IntangibleAssetsOtherThanGoodwill2024-03-3110631372core:ListedExchangeTraded2024-03-3110631372core:UnlistedNon-exchangeTraded2024-03-3110631372core:LandBuildings2023-03-3110631372core:PlantMachinery2023-03-3110631372core:Vehicles2023-03-3110631372core:FurnitureFittings2023-03-3110631372core:OfficeEquipment2023-03-3110631372core:NetGoodwill2023-03-3110631372core:IntangibleAssetsOtherThanGoodwill2023-03-3110631372core:ListedExchangeTraded2023-03-3110631372core:UnlistedNon-exchangeTraded2023-03-3110631372core:LandBuildings2023-04-012024-03-3110631372core:PlantMachinery2023-04-012024-03-3110631372core:Vehicles2023-04-012024-03-3110631372core:FurnitureFittings2023-04-012024-03-3110631372core:OfficeEquipment2023-04-012024-03-3110631372core:NetGoodwill2023-04-012024-03-3110631372core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3110631372core:ListedExchangeTraded2023-04-012024-03-3110631372core:UnlistedNon-exchangeTraded2023-04-012024-03-3110631372core:MoreThanFiveYears2023-04-012024-03-3110631372core:Non-currentFinancialInstruments2024-03-3110631372core:Non-currentFinancialInstruments2023-03-3110631372dpl:CostSales2023-04-012024-03-3110631372dpl:DistributionCosts2023-04-012024-03-3110631372core:LandBuildings2023-04-012024-03-3110631372core:PlantMachinery2023-04-012024-03-3110631372core:Vehicles2023-04-012024-03-3110631372core:FurnitureFittings2023-04-012024-03-3110631372core:OfficeEquipment2023-04-012024-03-3110631372dpl:AdministrativeExpenses2023-04-012024-03-3110631372core:NetGoodwill2023-04-012024-03-3110631372core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3110631372dpl:GroupUndertakings2023-04-012024-03-3110631372dpl:ParticipatingInterests2023-04-012024-03-3110631372dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3110631372core:ListedExchangeTraded2023-04-012024-03-3110631372dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3110631372core:UnlistedNon-exchangeTraded2023-04-012024-03-3110631372dpl:CostSales2022-04-012023-03-3110631372dpl:DistributionCosts2022-04-012023-03-3110631372core:LandBuildings2022-04-012023-03-3110631372core:PlantMachinery2022-04-012023-03-3110631372core:Vehicles2022-04-012023-03-3110631372core:FurnitureFittings2022-04-012023-03-3110631372core:OfficeEquipment2022-04-012023-03-3110631372dpl:AdministrativeExpenses2022-04-012023-03-3110631372core:NetGoodwill2022-04-012023-03-3110631372core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3110631372dpl:GroupUndertakings2022-04-012023-03-3110631372dpl:ParticipatingInterests2022-04-012023-03-3110631372dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3110631372core:ListedExchangeTraded2022-04-012023-03-3110631372dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3110631372core:UnlistedNon-exchangeTraded2022-04-012023-03-3110631372core:NetGoodwill2024-03-3110631372core:IntangibleAssetsOtherThanGoodwill2024-03-3110631372core:LandBuildings2024-03-3110631372core:PlantMachinery2024-03-3110631372core:Vehicles2024-03-3110631372core:FurnitureFittings2024-03-3110631372core:OfficeEquipment2024-03-3110631372core:AfterOneYear2024-03-3110631372core:WithinOneYear2024-03-3110631372core:ListedExchangeTraded2024-03-3110631372core:UnlistedNon-exchangeTraded2024-03-3110631372core:ShareCapital2024-03-3110631372core:SharePremium2024-03-3110631372core:RevaluationReserve2024-03-3110631372core:OtherReservesSubtotal2024-03-3110631372core:RetainedEarningsAccumulatedLosses2024-03-3110631372core:NetGoodwill2023-03-3110631372core:IntangibleAssetsOtherThanGoodwill2023-03-3110631372core:LandBuildings2023-03-3110631372core:PlantMachinery2023-03-3110631372core:Vehicles2023-03-3110631372core:FurnitureFittings2023-03-3110631372core:OfficeEquipment2023-03-3110631372core:AfterOneYear2023-03-3110631372core:WithinOneYear2023-03-3110631372core:ListedExchange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M&M OIL ASSOCIATES LTD

Registered Number
10631372
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

M&M OIL ASSOCIATES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

M W Ball
M J Thompson

Registered Address

New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Registered Number

10631372 (England and Wales)
M&M OIL ASSOCIATES LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,7357,948
5,7357,948
Current assets
Debtors4310,880351,197
Cash at bank and on hand27,1862,123,012
338,0662,474,209
Creditors amounts falling due within one year5(15,008)(2,691)
Net current assets (liabilities)323,0582,471,518
Total assets less current liabilities328,7932,479,466
Net assets328,7932,479,466
Capital and reserves
Called up share capital100100
Profit and loss account328,6932,479,366
Shareholders' funds328,7932,479,466
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2024, and are signed on its behalf by:
M J Thompson
Director
Registered Company No. 10631372
M&M OIL ASSOCIATES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company's functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from rendering of services
Revenue is recognised at the point in which the funds are received from the client in relation to a trade, the amount received is the total trade value less any commission charges for brokerage services.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.
Current taxation
Taxation for the year comprises current 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 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.
Tangible fixed assets and depreciation
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Office Equipment4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Trade and other debtors
Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand 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 to changes in value.
Trade and other creditors
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees

20242023
Average number of employees during the year25
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2321,98121,981
At 31 March 2421,98121,981
Depreciation and impairment
At 01 April 2314,03314,033
Charge for year2,2132,213
At 31 March 2416,24616,246
Net book value
At 31 March 245,7355,735
At 31 March 237,9487,948
4.Debtors: amounts due within one year

2024

2023

££
Other debtors310,880351,197
Total310,880351,197
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security15,0082,691
Total15,0082,691
6.Controlling party
The directors consider there to be no ultimate controlling party.