Registered number
SC642064
MTA SCOTLAND LIMITED
79 Lochend Road
Glasgow
Filleted Accounts
for the year ended 30 September 2024
Yousaf & Co. Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: M266/SA
MTA SCOTLAND LIMITED
Registered number: SC642064
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 35,000 35,000
Tangible assets 4 26,090 28,989
61,090 63,989
Current assets
Stocks 33,586 30,658
Cash at bank and in hand 8,766 4,300
42,352 34,958
Creditors: amounts falling due within one year 5 (48,597) (38,979)
Net current assets/(liabilities) (6,245) (4,021)
Total assets less current liabilities 54,845 59,968
Creditors: amounts falling due after more than one year 6 (33,864) (41,852)
Net assets 20,981 18,116
Capital and reserves
Called up share capital 100 100
Profit and loss account 20,881 18,016
Shareholders' funds 20,981 18,116
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 Abrar Khaliq
Director
Approved by the board on 24 March 2025
MTA SCOTLAND LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Fixtures, fittings, tools and equipment 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 35,000
At 30 September 2024 35,000
4 Tangible fixed assets
Fixture & fitttings
£
Cost
At 1 October 2023 33,710
At 30 September 2024 33,710
Depreciation
At 1 October 2023 4,721
Charge for the year 2,899
At 30 September 2024 7,620
Net book value
At 30 September 2024 26,090
At 30 September 2023 28,989
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 22,970 14,057
Taxation 21,090 21,317
Other creditors 4,537 3,605
48,597 38,979
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 33,864 41,852
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