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Registered Number: 07107531
England and Wales

 

 

 

ML INDUSTRIAL & MARINE SILENCERS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 196,778    26,565 
196,778    26,565 
Current assets      
Debtors: amounts falling due within one year 92,394    128,370 
Cash at bank and in hand 152,450    62,839 
244,844    191,209 
Creditors: amount falling due within one year (118,865)   (129,192)
Net current assets 125,979    62,017 
 
Total assets less current liabilities 322,757    88,582 
Creditors: amount falling due after more than one year (36,385)   (29,439)
Provisions for liabilities (49,194)  
Net assets 237,178    59,143 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 237,078    59,043 
Shareholder's funds 237,178    59,143 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 20 March 2024 and were signed by:


-------------------------------
Michael Lamb
Director
1
General Information
ML Industrial & Marine Silencers Ltd is a private company, limited by shares, registered in England and Wales, registration number 07107531, registration address 8 Bank Field Court, Commercial Road, Bromborough, Wirral, CH62 3NN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 25% Reducing Balance
Computer Equipment 33% Straight Line
Fixtures and Fittings 33% Straight Line
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 4 (2022 : 4).
3.

Financial Commitments, Guarantees and Contingencies

The company has leased premises and the lease expires September 2027.

The amount of rent due until the lease expires is £128,333.

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2022 10,000    10,000 
Additions  
Disposals  
At 30 June 2023 10,000    10,000 
Amortisation
At 01 July 2022 10,000    10,000 
Charge for year  
On disposals  
At 30 June 2023 10,000    10,000 
Net book values
At 30 June 2023  
At 30 June 2022  


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2022 79,624    2,530    3,907    300    86,361 
Additions 183,003      11,121    1,767    195,891 
Disposals (4,500)         (4,500)
At 30 June 2023 258,127    2,530    15,028    2,067    277,752 
Depreciation
At 01 July 2022 53,905    1,967    3,907    17    59,796 
Charge for year 20,790    141    2,425    463    23,819 
On disposals (2,641)         (2,641)
At 30 June 2023 72,054    2,108    6,332    480    80,974 
Net book values
Closing balance as at 30 June 2023 186,073    422    8,696    1,587    196,778 
Opening balance as at 01 July 2022 25,719    563      283    26,565 

The net book value of Plant and Machinery includes £ 66,550 in respect of assets leased under finance leases or hire purchase contracts.

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2