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Registered Number: 10011810
England and Wales

 

 

 

M1 DEBT ADVICE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
You consider that the company is exempt from an audit for the year to 29 February 2024.  You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.  These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.





Burton Varley Ltd
Suite 3, 2nd Floor, Didsbury House
748 - 754 Wilmslow Road
Manchester
M20 2DW
26 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors: amounts falling due within one year 37,103    21,403 
Debtors: amounts falling due after one year 28,910   
Cash at bank and in hand 8,376    (99)
74,389    21,304 
Creditors: amount falling due within one year (30,594)   (443)
Net current assets 43,795    20,861 
 
Total assets less current liabilities 43,795    20,861 
Creditors: amount falling due after more than one year (43,743)   (43,743)
Net assets 52    (22,882)
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 51    (22,883)
Shareholders' funds 52    (22,882)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 November 2024 and were signed by:


-------------------------------
Mackenzie Moore
Director
2
General Information
M1 Debt Advice Limited is a private company, limited by shares, registered in England and Wales, registration number 10011810, registration address 38 The Spinnings, Waterside Road, Summerseat, Cheshire, BL9 5QW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 5 years Straight Line
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 March 2023 3,010    3,010 
Additions  
Disposals  
At 29 February 2024 3,010    3,010 
Depreciation
At 01 March 2023 3,010    3,010 
Charge for year  
On disposals  
At 29 February 2024 3,010    3,010 
Net book values
Closing balance as at 29 February 2024  
Opening balance as at 01 March 2023  


4.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

3