MM Accountants Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC371086 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

MM ACCOUNTANTS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S McKenzie

R Murray

REGISTERED OFFICE:

Bon Accord House

Riverside Drive

Aberdeen

Aberdeenshire

AB11 7SL

REGISTERED NUMBER:

SC371086 (Scotland)

FIXED ASSETS

Investments

2

382,650

CURRENT ASSETS

Debtors

-

900

Cash at bank

657

2,672

657

3,572

CREDITORS

Amounts falling due within one year

317,832

386,200

NET CURRENT LIABILITIES

(317,175

)

(382,628

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

65,475

22

CAPITAL AND RESERVES

Called up share capital

3

6

Profit and loss account

65,469

16

SHAREHOLDERS' FUNDS

65,475

22

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25 July 2016 and were signed on its behalf by:

S McKenzie - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. The directors confirm that it is appropriate for the

financial statements to have been drawn up on the going concern basis. In reaching this conclusion the directors have taken

into account all relevant matters of which they are aware and have considered a future period of at least twelve months from

the date on which the financial statements were approved.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Investments

Listed endowments and fixed asset investments are included in the balance sheet at market value.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2014

and 31 October 2015

1,600,000

PROVISIONS

At 1 November 2014

and 31 October 2015

1,217,350

NET BOOK VALUE

At 31 October 2015

382,650

At 31 October 2014

382,650

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Acumen Accountants & Advisors Limited

Nature of business: Accountancy and advisory services

%

Class of shares:

holding

Ordinary shares

77.46

2015

2014

£

Aggregate capital and reserves

1,151,789

1,167,681

Loss for the year

(8,683

)

(864

)

MM Properties (Aberdeen) Limited

Nature of business: Holding company.

%

Class of shares:

holding

Ordinary

100.00

2015

30.6.14

£

Aggregate capital and reserves

-

596,489

Profit for the year/period

-

2,376

MM Properties (Aberdeen) Limited was dissolved on 19 January 2016. The last set of accounts prepared was for the year

ended 30 June 2014.

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary A shares

1

2

Ordinary B shares

1

2

Ordinary C shares

1

2

6

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 October 2015, there was a loan balance due from the company to Steven McKenzie of £39,150 (2014: £76,167).

As at 31 October 2015, there was a loan balance due from the company to Ross Murray of £39,150 (2014: £76,167).

All loans are interest free and have no fixed repayment date.

During the year dividends of £24,625 (2014: £13,250) were paid to Steven McKenzie, £24,625 (2014: £21,250) were paid to

Laura McKenzie and £nil (2014: £8,000) were paid to Sarah Murray.

5.	ULTIMATE CONTROLLING PARTY

MM (Scotland) LLP is considered to be the ultimate controlling party.