MHM Products Ltd 13428538 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Manufacture of hand protective products Digita Accounts Production Advanced 6.30.9574.0 true true 13428538 2023-06-01 2024-05-31 13428538 2024-05-31 13428538 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 13428538 core:OtherPropertyPlantEquipment 2024-05-31 13428538 bus:SmallEntities 2023-06-01 2024-05-31 13428538 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13428538 bus:FilletedAccounts 2023-06-01 2024-05-31 13428538 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13428538 bus:RegisteredOffice 2023-06-01 2024-05-31 13428538 bus:Director2 2023-06-01 2024-05-31 13428538 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13428538 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 13428538 countries:EnglandWales 2023-06-01 2024-05-31 13428538 2023-05-31 13428538 core:OtherPropertyPlantEquipment 2023-05-31 13428538 2022-06-01 2023-05-31 13428538 2023-05-31 13428538 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13428538 core:OtherPropertyPlantEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 13428538

MHM Products Ltd
Annual Report and
Unaudited Financial Statements

31 May 2024

 

MHM Products Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

MHM Products Ltd

Balance Sheet
31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,256

2,511

Current assets

 

Stocks

5

7,408

6,609

Cash at bank and in hand

 

271

69

 

7,679

6,678

Creditors: Amounts falling due within one year

6

(47,685)

(42,354)

Net current liabilities

 

(40,006)

(35,676)

Net liabilities

 

(38,750)

(33,165)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(38,850)

(33,265)

Shareholders' deficit

 

(38,750)

(33,165)

For the financial year ending 31 May 2024 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.

 

MHM Products Ltd

Balance Sheet
31 May 2024

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.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
Miss K McDonnell
Director

Company Registration Number: 13428538

 

MHM Products Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

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:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX
England

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 due to the ongoing support from the directors.

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.

 

MHM Products Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

MHM Products Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

MHM Products Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

4

Tangible assets

Other tangible assets
 £

Total
£

Cost or valuation

At 1 June 2023

5,022

5,022

At 31 May 2024

5,022

5,022

Depreciation

At 1 June 2023

2,511

2,511

Charge for the year

1,255

1,255

At 31 May 2024

3,766

3,766

Carrying amount

At 31 May 2024

1,256

1,256

At 31 May 2023

2,511

2,511

5

Stocks

2024
£

2023
£

Other inventories

7,408

6,609

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

660

600

Other creditors

47,025

41,754

47,685

42,354