Company Registration No. SC716790 (Scotland)
MPM Motor Company Ltd
Unaudited accounts
for the year ended 31 March 2025
MPM Motor Company Ltd
Unaudited accounts
Contents
MPM Motor Company Ltd
Company Information
for the year ended 31 March 2025
Director
Mr Michael P Mohan
Company Number
SC716790 (Scotland)
Registered Office
69a Heathfield Road
Ayr
KA8 9DU
Scotland
MPM Motor Company Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
19,948
21,036
Inventories
332,012
378,428
Cash at bank and in hand
132,548
69,947
Creditors: amounts falling due within one year
(319,772)
(320,410)
Net current assets
146,103
134,777
Total assets less current liabilities
166,051
155,813
Provisions for liabilities
Net assets
165,216
154,725
Called up share capital
1
1
Profit and loss account
165,215
154,724
Shareholders' funds
165,216
154,725
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 November 2025 and were signed on its behalf by
Mr Michael P Mohan
Director
Company Registration No. SC716790
MPM Motor Company Ltd
Notes to the Accounts
for the year ended 31 March 2025
MPM Motor Company Ltd is a private company, limited by shares, registered in Scotland, registration number SC716790. The registered office is 69a Heathfield Road, Ayr, KA8 9DU, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% staight line
Plant & machinery
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
MPM Motor Company Ltd
Notes to the Accounts
for the year ended 31 March 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The tax expense represents the sum of the tax currently payable
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from the net profit as reported in the profit and loss account because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes 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 reporting date,
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
16,816
3,800
1,666
495
22,777
At 31 March 2025
16,816
3,800
1,666
1,369
23,651
At 1 April 2024
420
689
532
100
1,741
Charge for the year
841
664
221
236
1,962
At 31 March 2025
1,261
1,353
753
336
3,703
At 31 March 2025
15,555
2,447
913
1,033
19,948
At 31 March 2024
16,396
3,111
1,134
395
21,036
Amounts falling due within one year
MPM Motor Company Ltd
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
43,807
13,162
Taxes and social security
436
39,475
Other creditors
224,810
216,000
Loans from directors
26,131
27,281
Included within other creditors is a loan totalling £216,000 ( 2024: £216,000) , which is secured by a floating charge over the companies' assets.
7
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
37,911
13,000
Later than one year and not later than five years
48,296
52,000
Later than five years
39,000
43,332
8
Transactions with related parties
Included within creditors due within one year is £26,131 (2024: £27,281) due to the director. This balance is repayable on demand and bears no interest.
9
Average number of employees
During the year the average number of employees was 6 (2024: 5).