Registered number
SC525813
MLM Glasgow Ltd
Filleted Accounts
28 February 2022
MLM Glasgow Ltd
Registered number: SC525813
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 616,675 616,675
Current assets
Cash at bank and in hand 79,573 68,625
Creditors: amounts falling due within one year 4 (1,722) (1,729)
Net current assets 77,851 66,896
Total assets less current liabilities 694,526 683,571
Creditors: amounts falling due after more than one year 5 (657,637) (654,022)
Net assets 36,889 29,549
Capital and reserves
Called up share capital 1 1
Profit and loss account 36,888 29,548
Shareholders' funds 36,889 29,549
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mohammed Latif Mirza
Director
Approved by the board on 26 August 2022
MLM Glasgow Ltd
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Properties
£
Cost
At 1 March 2021 616,675
At 28 February 2022 616,675
Depreciation
At 28 February 2022 -
Net book value
At 28 February 2022 616,675
At 28 February 2021 616,675
4 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 1,722 1,729
5 Creditors: amounts falling due after one year 2022 2021
£ £
Director's loan account 652,637 649,022
Safe deposit 5,000 5,000
657,637 654,022
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