Registered number
10104237
Muuto Consulting Limited
Filleted Accounts
31 March 2025
Muuto Consulting Limited
Registered number: 10104237
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 68,984 86,230
Tangible assets 4 871 1,636
69,855 87,866
Current assets
Debtors 5 4,472,054 3,597,307
Cash at bank and in hand 2,035,702 2,967,176
6,507,756 6,564,483
Creditors: amounts falling due within one year 6 (980,931) (1,407,593)
Net current assets 5,526,825 5,156,890
Net assets 5,596,680 5,244,756
Capital and reserves
Called up share capital 116 103
Share options reserve 7 11,749 18,598
Profit and loss account 5,584,815 5,226,055
Shareholders' funds 5,596,680 5,244,756
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C P Tomlinson
Director
Approved by the board on 30 April 2025
Muuto Consulting Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 20 29
3 Intangible fixed assets £
Software development:
Cost
At 1 April 2024 86,230
At 31 March 2025 86,230
Amortisation
Provided during the year 17,246
At 31 March 2025 17,246
Net book value
At 31 March 2025 68,984
At 31 March 2024 86,230
Software development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 12,902
At 31 March 2025 12,902
Depreciation
At 1 April 2024 11,266
Charge for the year 765
At 31 March 2025 12,031
Net book value
At 31 March 2025 871
At 31 March 2024 1,636
5 Debtors 2025 2024
£ £
Trade debtors 681,561 1,740,515
Deferred tax asset 17,028 21,149
Directors' loan account 2,804,454 1,357,756
Other debtors 969,011 477,887
4,472,054 3,597,307
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 149,890 199,001
Taxation and social security costs 719,566 844,871
Other creditors 111,475 363,721
980,931 1,407,593
7 Share options reserve 2025 2024
£ £
At 1 April 2024 18,598 11,714
Fair value of share options in period 47,315 21,630
Deferred tax on share options reserve (3,916) (6,199)
Share options exercised transferred to profit and loss reserve (50,248) (8,547)
At 31 March 2025 11,749 18,598
An employees' Enterprise Management Incentive (EMI) Scheme has been set up giving employees the option to purchase C Class shares in Muuto Consulting Limited. During the year, no options were issued to employees of the company. At 31 March 2025, a total of 267,564 options had been issued, of which 123,506 had been exercised and 62,036 have lapsed. (2024: 263,358 issued, 23,307 exercised, 78,497 lapsed). The fair value of the options has been calculated based on the AMV at the grant date multiplied by the number of options currently vested apportioned over the anticipated period until the options are exercised.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr C P Tomlinson
Loan to director 1,357,756 1,446,698 - 2,804,454
1,357,756 1,446,698 - 2,804,454
The loan to Mr C Tomlinson is repayable on demand. Interest has been charged at 2.25% on this loan (2024: 2.25%).
9 Controlling party
By virtue of his shareholding Mr C P Tomlinson controls the company.
10 Other information
Muuto Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
124 City Road
London
EC1V 2NX
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