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REGISTERED NUMBER: 04575321 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

ML HOMES LIMITED

ML HOMES LIMITED (REGISTERED NUMBER: 04575321)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ML HOMES LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr M Lim
Mr K C Lim
Miss M Lim





SECRETARY: Mr M Lim





REGISTERED OFFICE: 4 Elm Park Road
Finchley
London
N3 1EB





REGISTERED NUMBER: 04575321 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

ML HOMES LIMITED (REGISTERED NUMBER: 04575321)

Abridged Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,204,354 5,216,477
Investment property 5 443,841 443,841
5,648,195 5,660,318

CURRENT ASSETS
Debtors 100,001 99,820
Cash at bank 1,158,955 832,709
1,258,956 932,529
CREDITORS
Amounts falling due within one year (326,726 ) (245,347 )
NET CURRENT ASSETS 932,230 687,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,580,425

6,347,500

CREDITORS
Amounts falling due after more than one
year

6

(697,662

)

(900,580

)
NET ASSETS 5,882,763 5,446,920

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 5,882,753 5,446,910
SHAREHOLDERS' FUNDS 5,882,763 5,446,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ML HOMES LIMITED (REGISTERED NUMBER: 04575321)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr M Lim - Director


ML HOMES LIMITED (REGISTERED NUMBER: 04575321)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

ML Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Over the term of the lease
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 8 ) .

ML HOMES LIMITED (REGISTERED NUMBER: 04575321)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 5,470,150
Additions 11,246
At 31 October 2023 5,481,396
DEPRECIATION
At 1 November 2022 253,673
Charge for year 23,369
At 31 October 2023 277,042
NET BOOK VALUE
At 31 October 2023 5,204,354
At 31 October 2022 5,216,477

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 443,841
NET BOOK VALUE
At 31 October 2023 443,841
At 31 October 2022 443,841

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Mortgage - Over 5 years 333,023 634,170