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REGISTERED NUMBER: SC707470 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

MTM Concepts Ltd

MTM Concepts Ltd (Registered number: SC707470)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MTM Concepts Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: S C Ward





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
EH7 4HG





REGISTERED NUMBER: SC707470 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

MTM Concepts Ltd (Registered number: SC707470)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 154 1
Tangible assets 5 593 -
747 1

CURRENT ASSETS
Debtors 6 1,769 -
Cash at bank 23,740 -
25,509 -
CREDITORS
Amounts falling due within one year 7 30,628 -
NET CURRENT LIABILITIES (5,119 ) -
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,372

)

1

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (4,373 ) -
SHAREHOLDERS' FUNDS (4,372 ) 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

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

The financial statements were approved by the director and authorised for issue on 12 March 2025 and were signed by:





S C Ward - Director


MTM Concepts Ltd (Registered number: SC707470)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

MTM Concepts Ltd 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.

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.

The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the continuing support of the creditors and directors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less residual value, of each asset on a straight line basis over it's expected useful life, as follows:

Fixtures and Fittings- 20% on cost
Computer Equipment- 20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

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 balance sheet date.

Deferred tax
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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

MTM Concepts Ltd (Registered number: SC707470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption form preparing a cash flow statement
Exemption has been taken form preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 September 2023 1
Additions 170
At 31 August 2024 171
AMORTISATION
Amortisation for year 17
At 31 August 2024 17
NET BOOK VALUE
At 31 August 2024 154
At 31 August 2023 1

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 741
At 31 August 2024 741
DEPRECIATION
Charge for year 148
At 31 August 2024 148
NET BOOK VALUE
At 31 August 2024 593

MTM Concepts Ltd (Registered number: SC707470)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 1,769 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 30,628 -

8. DEFERRED TAX
£   
Provided during year (1,025 )
Balance at 31 August 2024 (1,025 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1 Ordinary £1 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 August 2024 the company owed the directors £14,128. (2023: £NIL)

11. RELATED PARTY DISCLOSURES

There were no related party transactions in the year ended 31st August 2024 (2023: none)

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S C Ward.