Silverfin false false 30/06/2023 01/07/2022 30/06/2023 Mr M A Noble 17/06/2013 Mr J S Porter 08/03/2019 Mr M Visconti 08 March 2024 The principal activity of the company continued to be that of real estate marketing. 08572782 2023-06-30 08572782 bus:Director1 2023-06-30 08572782 bus:Director2 2023-06-30 08572782 2022-06-30 08572782 core:CurrentFinancialInstruments 2023-06-30 08572782 core:CurrentFinancialInstruments 2022-06-30 08572782 core:Non-currentFinancialInstruments 2023-06-30 08572782 core:Non-currentFinancialInstruments 2022-06-30 08572782 core:ShareCapital 2023-06-30 08572782 core:ShareCapital 2022-06-30 08572782 core:RetainedEarningsAccumulatedLosses 2023-06-30 08572782 core:RetainedEarningsAccumulatedLosses 2022-06-30 08572782 2022-07-01 2023-06-30 08572782 bus:FilletedAccounts 2022-07-01 2023-06-30 08572782 bus:SmallEntities 2022-07-01 2023-06-30 08572782 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08572782 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08572782 bus:Director1 2022-07-01 2023-06-30 08572782 bus:Director2 2022-07-01 2023-06-30 08572782 bus:CompanySecretary1 2022-07-01 2023-06-30 08572782 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Company No: 08572782 (England and Wales)

MLN (LAND AND PROPERTIES) LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

MLN (LAND AND PROPERTIES) LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

MLN (LAND AND PROPERTIES) LTD

COMPANY INFORMATION

For the financial year ended 30 June 2023
MLN (LAND AND PROPERTIES) LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTORS Mr M A Noble
Mr J S Porter
SECRETARY Mr M Visconti
REGISTERED OFFICE Carlyle House
78 Chorley New Road
Bolton
BL1 4BY
England
United Kingdom
COMPANY NUMBER 08572782 (England and Wales)
CHARTERED ACCOUNTANTS Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
BANKERS HSBC Bank plc
1-3 Victoria Square
Bolton
MLN (LAND AND PROPERTIES) LTD

BALANCE SHEET

As at 30 June 2023
MLN (LAND AND PROPERTIES) LTD

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Current assets
Stocks 3 455,845 539,360
Debtors 4 0 12,320
Cash at bank and in hand 657,165 699,787
1,113,010 1,251,467
Creditors: amounts falling due within one year 5 ( 262,078) ( 343,027)
Net current assets 850,932 908,440
Total assets less current liabilities 850,932 908,440
Creditors: amounts falling due after more than one year 6 ( 26,275) ( 35,845)
Net assets 824,657 872,595
Capital and reserves
Called-up share capital 57,624 57,624
Profit and loss account 767,033 814,971
Total shareholders' funds 824,657 872,595

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of MLN (Land and Properties) Ltd (registered number: 08572782) were approved and authorised for issue by the Board of Directors on 08 March 2024. They were signed on its behalf by:

Mr J S Porter
Director
MLN (LAND AND PROPERTIES) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
MLN (LAND AND PROPERTIES) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MLN (Land and Properties) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Stocks

Work in progress is valued at the lower of cost and net realisable value and represents only those contracts that may convert to success. Once a contract is classed as unsuccessful and it is determined that no income will be generated from the contract the costs associated with the contract are written off to the profit and loss account.

Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Stocks

2023 2022
£ £
Work in progress 455,845 539,360

4. Debtors

2023 2022
£ £
Other debtors 0 12,320

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,823 10,000
Trade creditors 28,554 9,900
Taxation and social security 222,451 321,877
Other creditors 1,250 1,250
262,078 343,027

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 26,275 35,845