MM Psychology Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 13587944

MM Psychology Ltd

Filleted Unaudited Financial Statements

For the year ended

31 August 2023

MM Psychology Ltd

Statement of Financial Position

31 August 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	27,033	36,210

Current assets

Debtors	6	–	1,740
Cash at bank and in hand		4,164	521
		-------	-------
		4,164	2,261

Creditors: amounts falling due within one year	7	3,994	17,040
		-------	--------
Net current assets/(liabilities)		170	( 14,779)
		--------	--------
Total assets less current liabilities		27,203	21,431
		--------	--------

Capital and reserves

Called up share capital	300	300
Profit and loss account	26,903	21,131
	--------	--------
Shareholders funds	27,203	21,431
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 May 2024 , and are signed on behalf of the board by:

Dr M Michels

Director

Company registration number: 13587944

MM Psychology Ltd

Notes to the Financial Statements

Year ended 31 August 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 September 2022 and 31 August 2023	46,289	1,493	47,782
	--------	-------	--------
Depreciation
At 1 September 2022	11,572	–	11,572
Charge for the year	8,679	498	9,177
	--------	-------	--------
At 31 August 2023	20,251	498	20,749
	--------	-------	--------
Carrying amount
At 31 August 2023	26,038	995	27,033
	--------	-------	--------
At 31 August 2022	34,717	1,493	36,210
	--------	-------	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	–	1,740
	----	-------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Corporation tax	3,602	–
Other creditors	392	17,040
	-------	--------
	3,994	17,040
	-------	--------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Dr M Michels	( 8,520)	8,324	( 196)
S Michels	( 8,520)	8,324	( 196)
	--------	--------	----
	( 17,040)	16,648	( 392)
	--------	--------	----

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Dr M Michels	–	( 8,520)	( 8,520)
S Michels	–	( 8,520)	( 8,520)
	----	--------	--------
	–	( 17,040)	( 17,040)
	----	--------	--------