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REGISTERED NUMBER: 05821144 (England and Wales)















M L ESTATES LIMITED

Unaudited Financial Statements For The Year Ended 31 December 2023






M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

M L ESTATES LIMITED

Company Information
For The Year Ended 31 December 2023







DIRECTOR: Ms C Sewell





SECRETARY: P A Sewell





REGISTERED OFFICE: 27 Avenue Road
Seaton Delaval
Whitley Bay
Tyne and Wear
NE25 0DT





REGISTERED NUMBER: 05821144 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,748 26,248
Tangible assets 5 1,923 2,631
20,671 28,879

CURRENT ASSETS
Debtors 6 9,402 8,789
Cash at bank and in hand 93,094 121,479
102,496 130,268
CREDITORS
Amounts falling due within one year 7 63,468 82,795
NET CURRENT ASSETS 39,028 47,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,699

76,352

CREDITORS
Amounts falling due after more than one
year

8

(30,000

)

(30,000

)

PROVISIONS FOR LIABILITIES 10 (366 ) (399 )
NET ASSETS 29,333 45,953

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 29,313 45,933
SHAREHOLDERS' FUNDS 29,333 45,953

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

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

The director acknowledges her 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.

M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)

Balance Sheet - continued
31 December 2023


The 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.

The financial statements were approved by the director and authorised for issue on 18 June 2024 and were signed by:





Ms C Sewell - Director


M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

M L ESTATES 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.

Significant judgements
Other than the judgement made over the goodwill policy there were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company as commission on property sales and for managing and letting of properties. The revenue is recognised on the raising of a sales invoice at the exchange of contracts stage of a property sale; on completion of a tenancy agreement; or monthly when managing tenancies (no adjustment is made for managing tenancies fees remaining uncharged for a part of the month).

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Goodwill that was purchased in 2006 is being amortised evenly over its estimated useful life of twenty years. The Director is aware that this policy does not fall in-line with recommended accounting standards. In carrying out an impairment review the Director deemed that the carrying value is accurate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 149,998
AMORTISATION
At 1 January 2023 123,750
Charge for year 7,500
At 31 December 2023 131,250
NET BOOK VALUE
At 31 December 2023 18,748
At 31 December 2022 26,248

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 12,568 35,718 48,286
Additions 161 - 161
Disposals (102 ) - (102 )
At 31 December 2023 12,627 35,718 48,345
DEPRECIATION
At 1 January 2023 12,367 33,288 45,655
Charge for year 47 804 851
Eliminated on disposal (84 ) - (84 )
At 31 December 2023 12,330 34,092 46,422
NET BOOK VALUE
At 31 December 2023 297 1,626 1,923
At 31 December 2022 201 2,430 2,631

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,270 4,457
Other debtors 2,132 4,332
9,402 8,789

Other debtors relate to prepayments and loan due to be repaid to business.

M L ESTATES LIMITED (REGISTERED NUMBER: 05821144)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,367 2,730
Taxation and social security (2,070 ) 6,345
Other creditors 63,171 73,720
63,468 82,795

Included in other creditors are amounts owed to the Director, this year she was owed £51,914 (£62,263, - 2022).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 30,000 30,000

Included in other creditors are amounts owed to the Director, this year she was owed £30,000 (£30,000 - 2022).

9. FINANCIAL INSTRUMENTS

Debtors are shown at their impaired value (i.e. less doubtful debts) and trade creditors are at their carrying value.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 366 399

Deferred
tax
£   
Balance at 1 January 2023 399
Provided during year (33 )
Balance at 31 December 2023 366

11. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

M L ESTATES LIMITED

Report of the Accountants to the Director of
M L ESTATES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


19 June 2024