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Registration number: SC325545

M A H Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

M A H Consulting Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

M A H Consulting Limited

Company Information

Directors

Mr M A Hedley

Mrs J A Hedley

Registered office




Registration number

31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

SC325545 (Scotland)

Accountants

Brown, Scott & Main
Chartered Accountants31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

 

M A H Consulting Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
M A H Consulting Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M A H Consulting Limited for the year ended 30 June 2024 as set out on pages 4 to 9 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of M A H Consulting Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that M A H Consulting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of M A H Consulting Limited. You consider that M A H Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of M A H Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

12 March 2025

 

M A H Consulting Limited

(Registration number: SC325545)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,509

3,971

Current assets

 

Debtors

7

23,672

109,900

Cash at bank and in hand

 

3,954

4,350

 

27,626

114,250

Creditors: Amounts falling due within one year

8

(29,044)

(33,119)

Net current (liabilities)/assets

 

(1,418)

81,131

Total assets less current liabilities

 

1,091

85,102

Creditors: Amounts falling due after more than one year

8

(2,485)

(5,005)

Net (liabilities)/assets

 

(1,394)

80,097

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(2,394)

79,097

Shareholders' (deficit)/funds

 

(1,394)

80,097

For the financial year ending 30 June 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 and 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 11 March 2025 and signed on its behalf by:
 

.........................................
Mr M A Hedley
Director

 

M A H Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Statutory information

M A H Consulting Limited is a private company limited by share capital, incorporated in Scotland. The company's registration number and registered office can be found on the Company Information page.

The principal place of business is:
Unit 6
Katherine Park
Katherine Street
Kirkcaldy
Fife
KY2 5JY
Scotland

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.

The presentation currency is sterling.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, was amortised evenly over its estimated useful life of five years.

Revenue recognition

Turnover represents net invoiced sales of services provided during the accounting period, excluding value added tax.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 corporation tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

 

M A H Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost less residual value of the asset over its useful life at the following rates:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider this appropriate as the company continues to meet its day to day commitments from working capital and existing financial arrangements as they fall due. The directors are confident that the company has adequate resources to continue in operational existence and expect it to become profitable in the near future.

3

Staff numbers

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

4

Taxation

The tax charge/(credit) on the profit/(loss) for the year was as follows:

2024

2023

£

£

UK corporation tax

-

(2,660)

 

M A H Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

25,000

25,000

At 30 June 2024

25,000

25,000

Amortisation

At 1 July 2023

25,000

25,000

At 30 June 2024

25,000

25,000

Carrying amount

At 30 June 2024

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 July 2023

7,673

7,673

At 30 June 2024

7,673

7,673

Depreciation

At 1 July 2023

3,702

3,702

Charge for the year

1,462

1,462

At 30 June 2024

5,164

5,164

Carrying amount

At 30 June 2024

2,509

2,509

At 30 June 2023

3,971

3,971

7

Debtors

Current

2024
£

2023
£

Trade debtors

23,535

66,702

Prepayments

137

538

Other debtors

-

42,660

 

23,672

109,900

Debtors include balances due from related parties. Details of related party transactions are provided at note 10.
 

 

M A H Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

2,520

2,520

Trade creditors

 

-

3,913

Taxation and social security

 

986

1,109

Accruals and deferred income

 

2,250

2,458

Other creditors

 

23,288

23,119

 

29,044

33,119

Creditors include balances due to related parties. Details of related party transactions are provided at note 10.
 

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,485

5,005

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,485

5,005

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,520

2,520

In 2020 the company borrowed £12,600 through the government's bounce back loan scheme, made available to businesses in response to the coronavirus pandemic. The loan was interest free for the first 12 months (the first 12 months interest was payable by the UK Government) and no repayments were due within this period. Interest is then charged at 2.5% per annum and the loan is repayable over the following 5 years by monthly instalment.
 

 

M A H Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

10

Related party transactions

Mr M A Hedley, director and shareholder of MAH Consulting Limited, is also a director and shareholder in a number of companies operating retail pharmacies and other health related businesses. MAH Consulting Limited provides management consultancy services to these related companies on a commercial, arms length basis.

In addition to the following transactions a balance of £22,000 (2023 £22,000) was due from the company to Mr M A Hedley. The loan is interest free and repayable on demand.
 

During the year the following related party transactions (excluding loans) took place:

Consultancy services provided by

Services purchased by

MAH Consulting Limited

MAH Consulting Limited

2024

2023

2024

2023

£

£

£

£

Agilis Health Limited

-

7,500

-

-

Wellbeing Pharmacies Limited

-

3,125

-

-

Medicine Collection Limited

24,000

24,000

-

-

MAF Pharma Limited

-

-

6,000

6,000

24,000

34,625

6,000

6,000

At the year end the following balances (excluding loans) were due:

Balances due to

Balances due from

MAH Consulting Limited

MAH Consulting Limited

2024

2023

2024

2023

£

£

£

Medicine Collection Limited

-

35,700

-

-

Wellbeing Pharmacies Limited

19,200

28,800

-

-

MAF Pharma Ltd

-

-

-

1,800

19,200

64,500

-

1,800