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Registration number: 4320257

MMO Limited

trading as Murray McIntosh O'Brien

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

MMO Limited

trading as Murray McIntosh O'Brien

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

MMO Limited

trading as Murray McIntosh O'Brien

Company Information

Directors

Timothy Charles O'Brien

Stephen Paul Murray

Samantha Yeardley

Melanie Roberts

Gillian McIntosh

Company secretary

Gillian McIntosh

Registered office

17 Spinnaker Grange
Northney Lane
Hayling Island
Hampshire
PO11 0SJ

Accountants

Murray McIintosh O'Brien
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MMO Limited

trading as Murray McIntosh O'Brien
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MMO Limited for the year ended 30 November 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of MMO Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MMO Limited and state those matters that we have agreed to state to the Board of Directors of MMO Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MMO Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MMO Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MMO Limited. You consider that MMO Limited 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 accounts of MMO Limited. 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 accounts.

......................................

Murray McIintosh O'Brien
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

21 November 2024

 

MMO Limited

trading as Murray McIntosh O'Brien

(Registration number: 4320257)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

612,031

663,826

Tangible assets

5

35,761

37,513

 

647,792

701,339

Current assets

 

Debtors

6

1,176,547

1,097,822

Cash at bank and in hand

 

37,851

169,208

 

1,214,398

1,267,030

Creditors: Amounts falling due within one year

7

(428,541)

(626,296)

Net current assets

 

785,857

640,734

Total assets less current liabilities

 

1,433,649

1,342,073

Provisions for liabilities

(408,627)

(408,627)

Net assets

 

1,025,022

933,446

Capital and reserves

 

Called up share capital

8

1,220

1,220

Retained earnings

1,023,802

932,226

Shareholders' funds

 

1,025,022

933,446

For the financial year ending 30 November 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

MMO Limited

trading as Murray McIntosh O'Brien

(Registration number: 4320257)
Balance Sheet as at 30 November 2023

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

.........................................
Timothy Charles O'Brien
Director

.........................................
Stephen Paul Murray
Director

.........................................
Gillian McIntosh
Company secretary and director

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Spinnaker Grange
Northney Lane
Hayling Island
Hampshire
PO11 0SJ
England

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

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

The tax expense for the period comprises current 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

20% reducing balance

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

20 years 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.

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2022 - 23).

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

1,035,890

1,035,890

At 30 November 2023

1,035,890

1,035,890

Amortisation

At 1 December 2022

372,064

372,064

Amortisation charge

51,795

51,795

At 30 November 2023

423,859

423,859

Carrying amount

At 30 November 2023

612,031

612,031

At 30 November 2022

663,826

663,826

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

25,411

275,597

301,008

Additions

-

7,189

7,189

At 30 November 2023

25,411

282,786

308,197

Depreciation

At 1 December 2022

25,411

238,084

263,495

Charge for the year

-

8,941

8,941

At 30 November 2023

25,411

247,025

272,436

Carrying amount

At 30 November 2023

-

35,761

35,761

At 30 November 2022

-

37,513

37,513

 

MMO Limited

trading as Murray McIntosh O'Brien

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

443,621

551,287

Amounts owed by related parties

732,926

546,535

   

1,176,547

1,097,822

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

326,545

391,464

Accruals and deferred income

101,510

233,970

Other creditors

486

862

428,541

626,296

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

Prefernce shares of £1 each

200

200

200

200

Ordinary A shares of £1 each

20

20

20

20

1,220

1,220

1,220

1,220