Momentum Plus Limited - Accounts to registrar (filleted) - small 18.2
Momentum Plus Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2021 |
for |
Momentum Plus Limited |
Momentum Plus Limited (Registered number: SC182988) |
Contents of the Financial Statements |
for the Year Ended 31 July 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Momentum Plus Limited |
Company Information |
for the Year Ended 31 July 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
St James Business Centre |
Linwood Road |
Paisley |
Renfrewshire |
PA3 3AT |
Momentum Plus Limited (Registered number: SC182988) |
Balance Sheet |
31 July 2021 |
31.7.21 | 31.7.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Momentum Plus Limited (Registered number: SC182988) |
Notes to the Financial Statements |
for the Year Ended 31 July 2021 |
1. | STATUTORY INFORMATION |
Momentum Plus Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have prepared under the historical cost convention. |
As at the balance sheet date, the COVID 19 virus remains a threat to the global economy as such the company monitors the situation and will take the necessary steps to ensure the impact minimised. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost and subject to impairment reviews ensuring current economic climate and trading activities are considered. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Momentum Plus Limited (Registered number: SC182988) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2021 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakin |
£ |
COST |
At 1 August 2020 |
and 31 July 2021 |
NET BOOK VALUE |
At 31 July 2021 |
At 31 July 2020 |
An impairment review of the book value of subsidiary was completed as at 31st July 2020. The subsidiary ceased to trade in 2021 thus resulting in the director concluding a write down of value to be prudent. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Momentum Plus Limited owns 99% of Window Management Limited, a company under common control via director Mr G Handley. |
At the year end, the company was due £2,500.00 from Window Management Limited [2020: - £2,500]. Within the year, there was no inter company trading activity or dividends paid [2020:- £Nil]. |