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REGISTERED NUMBER: SC659469 (Scotland)















Financial Statements For The Year Ended 30 April 2024

for

MN Finance & Accounting Limited

MN Finance & Accounting Limited (Registered number: SC659469)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


MN Finance & Accounting Limited

Company Information
For The Year Ended 30 April 2024







DIRECTORS: M I Neville
Mrs K M Neville





REGISTERED OFFICE: 30 Laguna Wynd
East Kilbride
Glasgow
G74 5EA





REGISTERED NUMBER: SC659469 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

MN Finance & Accounting Limited (Registered number: SC659469)

Abridged Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,319 1,120

CURRENT ASSETS
Debtors 7,086 -
Investments 69,741 86,346
Cash at bank 13,785 31,855
90,612 118,201
CREDITORS
Amounts falling due within one year 116,502 100,125
NET CURRENT (LIABILITIES)/ASSETS (25,890 ) 18,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,429

19,196

PROVISIONS FOR LIABILITIES 10,655 213
NET ASSETS 13,774 18,983

CAPITAL AND RESERVES
Called up share capital 20 10
Retained earnings 13,754 18,973
SHAREHOLDERS' FUNDS 13,774 18,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MN Finance & Accounting Limited (Registered number: SC659469)

Abridged Statement of Financial Position - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





M I Neville - Director


MN Finance & Accounting Limited (Registered number: SC659469)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

MN Finance & Accounting Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed plant and equipment - 33.33% on cost
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MN Finance & Accounting Limited (Registered number: SC659469)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 1,488
Additions 50,830
At 30 April 2024 52,318
DEPRECIATION
At 1 May 2023 368
Charge for year 1,631
At 30 April 2024 1,999
NET BOOK VALUE
At 30 April 2024 50,319
At 30 April 2023 1,120

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,838 4,838
Between one and five years 807 5,645
5,645 10,483