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No description of principal activity
2024-11-01
Sage Accounts Production Advanced 2024 - FRS102_2024
513,893
31,537
xbrli:pure
xbrli:shares
iso4217:GBP
03784665
2024-11-01
2025-01-31
03784665
2025-01-31
03784665
2024-10-31
03784665
2023-11-01
2024-10-31
03784665
2024-10-31
03784665
2023-10-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
bus:Director1
2024-11-01
2025-01-31
03784665
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2025-01-31
03784665
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2024-10-31
03784665
core:ShareCapital
2025-01-31
03784665
core:ShareCapital
2024-10-31
03784665
core:RetainedEarningsAccumulatedLosses
2025-01-31
03784665
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2024-10-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
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2024-11-01
2025-01-31
03784665
core:MotorVehicles
2024-11-01
2025-01-31
COMPANY REGISTRATION NUMBER:
03784665
Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Period from 1 November 2024 to 31 January 2025
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements |
2 |
|
|
Statement of income and retained earnings |
3 |
|
|
Abridged statement of financial position |
4 |
|
|
Notes to the abridged financial statements |
6 |
|
|
Period from 1 November 2024 to 31 January 2025
The director presents his report and the unaudited abridged financial statements of the company for the period ended
31 January 2025
.
Director
The director who served the company during the period was as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
25 February 2025
and signed on behalf of the board by:
Registered office: |
31 Abingdon Road |
Netherton |
Dudley |
West Midlands |
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
M & M Transport Limited |
|
Period from 1 November 2024 to 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of M & M Transport Limited for the period ended 31 January 2025, which comprise the statement of income and retained earnings, abridged statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
RONALD SHAW & CO
Chartered accountants
Ashford House
95 Dixons Green
Dudley
West Midlands
26 February 2025
Statement of Income and Retained Earnings |
|
Period from 1 November 2024 to 31 January 2025
|
Period from |
|
|
1 Nov 24 to |
Year to |
|
31 Jan 25 |
31 Oct 24 |
Note |
£ |
£ |
Turnover |
413,869 |
1,392,258 |
|
|
|
Cost of sales |
228,474 |
882,141 |
|
--------- |
------------ |
Gross profit |
185,395 |
510,117 |
|
|
|
Administrative expenses |
(
496,289) |
483,741 |
|
--------- |
--------- |
Operating profit |
681,684 |
26,376 |
|
|
|
Other interest receivable and similar income |
3,507 |
12,009 |
|
|
--------- |
--------- |
Profit before taxation |
5 |
685,191 |
38,385 |
|
|
|
|
Tax on profit |
171,298 |
6,848 |
|
--------- |
-------- |
Profit for the financial period and total comprehensive income |
513,893 |
31,537 |
|
--------- |
-------- |
|
|
|
All the activities of the company are from continuing operations.
Abridged Statement of Financial Position |
|
31 January 2025
|
31 Jan 25 |
31 Oct 24 |
Note |
£ |
£ |
£ |
|
|
|
|
Fixed assets
Tangible assets |
6 |
|
– |
133,209 |
|
|
|
|
|
Current assets
Debtors |
591,491 |
|
286,768 |
Cash at bank and in hand |
1,671,956 |
|
1,009,726 |
|
------------ |
|
------------ |
|
2,263,447 |
|
1,296,494 |
|
|
|
|
Creditors: amounts falling due within one year |
553,704 |
|
200,551 |
|
------------ |
|
------------ |
Net current assets |
|
1,709,743 |
1,095,943 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,709,743 |
1,229,152 |
|
|
|
|
Provisions
Taxation including deferred tax |
|
– |
33,302 |
|
|
------------ |
------------ |
Net assets |
|
1,709,743 |
1,195,850 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
2 |
2 |
Profit and loss account |
|
1,709,741 |
1,195,848 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,709,743 |
1,195,850 |
|
|
------------ |
------------ |
|
|
|
|
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 January 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
Company registration number:
03784665
Notes to the Abridged Financial Statements |
|
Period from 1 November 2024 to 31 January 2025
1.
General information
The company has ceased to trade on 31st January 2025 and has shortened it's accounting year end accordingly.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and Machinery |
- |
7 years
|
|
Motor Vehicles |
- |
4 years
|
|
|
|
|
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
The company operates a defined contribution pensions scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
10
(2024:
10
).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
Period from |
|
|
1 Nov 24 to |
Year to |
|
31 Jan 25 |
31 Oct 24 |
|
£ |
£ |
Depreciation of tangible assets |
– |
104,843 |
|
---- |
--------- |
|
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 November 2024 |
1,471,173 |
Disposals |
(
1,471,173) |
|
------------ |
At 31 January 2025 |
– |
|
------------ |
Depreciation |
|
At 1 November 2024 |
1,337,965 |
Disposals |
(
1,337,965) |
|
------------ |
At 31 January 2025 |
– |
|
------------ |
Carrying amount |
|
At 31 January 2025 |
– |
|
------------ |
At 31 October 2024 |
133,208 |
|
------------ |
|
|
7.
Director's advances, credits and guarantees
The directors made loans to the company during the year. The loans are interest free and are repayable on demand. The balance outstanding at 31st January 2025 £5,411 (2024 £6,345).
8.
Controlling party
Mr M.D. Bloomer
, controls the company as a result of controlling directly and indirectly 100% of the issued share capital.