MML Technologies Ltd
Registered number: 08366370
Statement of Financial Position
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,281 1,708
Current assets
Stocks - 3,000
Debtors 4 724 756
Cash at bank and in hand 270 270
994 4,026
Creditors: amounts falling due within one year 5 (21,989) (17,752)
Net current liabilities (20,995) (13,726)
Net liabilities (19,714) (12,018)
Capital and reserves
Called up share capital 100 100
Profit and loss account (19,814) (12,118)
Shareholder's funds (19,714) (12,018)
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 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.
E Pagden
Director
Approved by the board on 15 August 2024
MML Technologies Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The director considers the company to be a going concern, notwithstanding that there are losses of £19,814. They have reviewed the potential future of the company and consider that it will trade profitably in the foreseeable future.
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:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 4,395
At 31 January 2024 4,395
Depreciation
At 1 February 2023 2,687
Charge for the year 427
At 31 January 2024 3,114
Net book value
At 31 January 2024 1,281
At 31 January 2023 1,708
4 Debtors 2024 2023
£ £
Other debtors 724 756
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,768 12,839
Accruals 500 808
Corporation tax - 430
Other creditors 7,721 3,675
21,989 17,752
6 Other information
MML Technologies Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Lion Road,
Farnborough
Hampshire
GU14 7GH
MML Technologies Ltd 08366370 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 E Pagden No description of principal activity 08366370 2022-02-01 2023-01-31 08366370 core:WithinOneYear 2023-01-31 08366370 core:ShareCapital 2023-01-31 08366370 core:RetainedEarningsAccumulatedLosses 2023-01-31 08366370 2023-02-01 2024-01-31 08366370 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08366370 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08366370 bus:Director40 2023-02-01 2024-01-31 08366370 1 2023-02-01 2024-01-31 08366370 2 2023-02-01 2024-01-31 08366370 core:PlantMachinery 2023-02-01 2024-01-31 08366370 countries:England 2023-02-01 2024-01-31 08366370 bus:FRS102 2023-02-01 2024-01-31 08366370 bus:FilletedAccounts 2023-02-01 2024-01-31 08366370 2024-01-31 08366370 core:WithinOneYear 2024-01-31 08366370 core:ShareCapital 2024-01-31 08366370 core:RetainedEarningsAccumulatedLosses 2024-01-31 08366370 core:PlantMachinery 2024-01-31 08366370 2023-01-31 08366370 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure