MM Accountants Ltd - Accounts to registrar (filleted) - small 18.2

MM Accountants Ltd - Accounts to registrar (filleted) - small 18.2

MM ACCOUNTANTS LTD - Company Information

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REGISTERED NUMBER: SC371086 (Scotland)











































UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

MM ACCOUNTANTS LTD
MM ACCOUNTANTS LTD (REGISTERED NUMBER: SC371086)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MM ACCOUNTANTS LTD

COMPANY INFORMATION
for the Year Ended 31 October 2017







DIRECTORS: S J McKenzie
R Murray





REGISTERED OFFICE: Bankhead Drive
City South Office park
Portlethen
Aberdeen
Aberdeenshire
AB12 4XX





REGISTERED NUMBER: SC371086 (Scotland)





Page 1
MM ACCOUNTANTS LTD (REGISTERED NUMBER: SC371086)

STATEMENT OF FINANCIAL POSITION
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investments 3 139,318 139,318

CURRENT ASSETS
Debtors 4 133,663 65,033
Cash at bank 102 403
133,765 65,436
CREDITORS
Amounts falling due within one year 5 270,245 143,077
NET CURRENT LIABILITIES (136,480 ) (77,641 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,838
61,677

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 2,832 61,671
SHAREHOLDERS' FUNDS 2,838 61,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 July 2018 and were signed on its behalf by:





S J McKenzie - Director


The notes form part of these financial statements

Page 2
MM ACCOUNTANTS LTD (REGISTERED NUMBER: SC371086)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

MM Accountants Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and
registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

These financial statements for the year ended 31 October 2017 are the first set of financial statements that comply with FRS
102. The date of transition is 1 November 2015.

The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously, this has
not impacted on opening equity or profit for the comparative period.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

3. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2016
and 31 October 2017 1,516,668
PROVISIONS
At 1 November 2016
and 31 October 2017 1,377,350
NET BOOK VALUE
At 31 October 2017 139,318
At 31 October 2016 139,318

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 133,663 65,033

Page 3 continued...
MM ACCOUNTANTS LTD (REGISTERED NUMBER: SC371086)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2017

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation and social security 682 29,000
Other creditors 269,563 114,077
270,245 143,077

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 October 2017, there was a loan balance due to the company from Steven McKenzie of £30,516(2016: -£17,516).

As at 31 October 2017, there was a loan balance due to the company from Ross Murray of £75,146 (2016: -£32,516).

All loans are interest free and have been repaid within 9 months of the year end.

7. ULTIMATE CONTROLLING PARTY

Steven McKenzie and Ross Murray are considered to be the ultimate controlling parties.

8. FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention and in
accordance with the Financial Reporting Standards for Smaller Entities (effective from January 2015) as at 1 November
2015.

Reconciliation of equity
No transitional adjustments were required.

Reconciliation of profit or loss for the year
No transitional adjustments were required.

Page 4