Registered number
12286004
MZL LTD
Unaudited Filleted Accounts
31 October 2022
TEMPLETONS ( UK ) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
MZL LTD
Registered number: 12286004
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 698,955 643,355
Current assets
Cash at bank and in hand 18,145 64,601
Creditors: amounts falling due within one year 5 (19,705) (21,455)
Net current (liabilities)/assets (1,560) 43,146
Total assets less current liabilities 697,395 686,501
Creditors: amounts falling due after more than one year 6 (652,931) (634,575)
Net assets 44,464 51,926
Capital and reserves
Called up share capital 1 1
Profit and loss account 44,463 51,925
Shareholder's funds 44,464 51,926
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 member has 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.
V Bermant
Director
Approved by the board on 31 July 2024
MZL LTD
Notes to the Accounts
for the year ended 31 October 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. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Going concern
Notwithstanding the net current assets deficiency,the financial statements have been prepared on a going concern basis,as in the opinion of the directors,the company has sufficient financial support from its creditors and shareholders to pay its debt as they fall due.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2021 643,355
Additions 55,600
At 31 October 2022 698,955
Depreciation
At 31 October 2022 -
Net book value
At 31 October 2022 698,955
At 31 October 2021 643,355
5 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 10,429 12,180
Other creditors 9,276 9,275
19,705 21,455
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 652,931 634,575
7 Controlling party
The company was under the control of Mr V Bermant, sole director and shareholder of the company throughout the period.
8 Other information
MZL LTD is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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