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Registered number: 13811238
Mount My Medals Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Hancock & Hastings Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13811238
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,938 -
4,938 -
CURRENT ASSETS
Stocks 5 6,345 5,170
Debtors 6 5,651 4,473
Cash at bank and in hand 167 -
12,163 9,643
Creditors: Amounts Falling Due Within One Year 7 (7,578 ) (9,543 )
NET CURRENT ASSETS (LIABILITIES) 4,585 100
TOTAL ASSETS LESS CURRENT LIABILITIES 9,523 100
Creditors: Amounts Falling Due After More Than One Year 8 (9,423 ) -
NET ASSETS 100 100
CAPITAL AND RESERVES
Called up share capital 9 100 100
SHAREHOLDERS' FUNDS 100 100
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
O Few
Director
10/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mount My Medals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13811238 . The registered office is 28 Old Gorse Way, Mawsley, Kettering, NN14 1GJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RB
Computer Equipment 25% RB
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 - - -
Additions 5,121 330 5,451
As at 31 December 2024 5,121 330 5,451
Depreciation
As at 1 January 2024 - - -
Provided during the period 442 71 513
As at 31 December 2024 442 71 513
Net Book Value
As at 31 December 2024 4,679 259 4,938
As at 1 January 2024 - - -
5. Stocks
2024 2023
£ £
Stock 6,345 5,170
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 5,651 4,473
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 3,157
Other loans 1,854 2,329
Other creditors 1,855 -
Taxation and social security 3,869 4,057
7,578 9,543
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 9,423 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Owen Few 4,304 2,870 (4,138 ) - 3,035
The above loan is unsecured, interest free and repayable on demand.
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