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Registered number: 10453467
M M BRANDS LTD
Unaudited Financial Statements
For The Year Ended 31 October 2024
PowerStone Accountants Ltd.
15 Westbury Court Road
Bristol
BS9 3BU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10453467
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,308 6,463
4,308 6,463
CURRENT ASSETS
Stocks 5 32,000 32,000
Debtors 6 4,338 2,862
Cash at bank and in hand 7,324 8,973
43,662 43,835
Creditors: Amounts Falling Due Within One Year 7 (72,785 ) (78,277 )
NET CURRENT ASSETS (LIABILITIES) (29,123 ) (34,442 )
TOTAL ASSETS LESS CURRENT LIABILITIES (24,815 ) (27,979 )
Creditors: Amounts Falling Due After More Than One Year 8 (6,083 ) (9,117 )
NET LIABILITIES (30,898 ) (37,096 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (30,998 ) (37,196 )
SHAREHOLDERS' FUNDS (30,898) (37,096)
Page 1
Page 2
For the year ending 31 October 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
Mr Patrick Bell
Director
28/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M M BRANDS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 10453467 . The registered office is Solomon House Belgrave Court, Fulwood, Preston, PR2 9PL.
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.
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% Reducing Balance
Computer Equipment 25% Reducing Balance
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. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 10,455 1,064 11,519
As at 31 October 2024 10,455 1,064 11,519
Depreciation
As at 1 November 2023 4,440 616 5,056
Provided during the period 2,005 150 2,155
As at 31 October 2024 6,445 766 7,211
...CONTINUED
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Page 4
Net Book Value
As at 31 October 2024 4,010 298 4,308
As at 1 November 2023 6,015 448 6,463
5. Stocks
2024 2023
£ £
Stock 32,000 32,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 2,400
Other debtors 4,338 462
4,338 2,862
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,574 2,360
Other creditors 66,233 72,847
Taxation and social security 2,978 3,070
72,785 78,277
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,083 9,117
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included in creditors falling due within one year is an amount of £64,663 (2023: £69,753) owed to the director. The loan is interest free.
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