Registered number
SC525813
MLM Glasgow Ltd
Filleted Accounts
29 February 2024
MLM Glasgow Ltd
Registered number: SC525813
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 616,675 616,675
Current assets
Cash at bank and in hand 100,595 87,216
Creditors: amounts falling due within one year 4 (295) (449)
Net current assets 100,300 86,767
Total assets less current liabilities 716,975 703,442
Creditors: amounts falling due after more than one year 5 (676,660) (664,528)
Net assets 40,315 38,914
Capital and reserves
Called up share capital 1 1
Profit and loss account 40,314 38,913
Shareholder's funds 40,315 38,914
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.
Mr Mohammed Latif Mirza
Director
Approved by the board on 13 October 2024
MLM Glasgow Ltd
Notes to the Accounts
for the year ended 29 February 2024
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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. T
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Properties
£
Cost
At 1 March 2023 616,675
At 29 February 2024 616,675
Depreciation
At 29 February 2024 -
Net book value
At 29 February 2024 616,675
At 28 February 2023 616,675
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 295 449
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 669,720 657,588
Safe deposit 6,940 6,940
676,660 664,528
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