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REGISTERED NUMBER: SC388810 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

MLB PROPERTIES LIMITED

MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MLB PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: M McLaughlin
C S Moore





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC388810 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,523 21,804

CURRENT ASSETS
Stocks 5 3,141,805 3,934,627
Debtors 6 128,099 308,666
Cash at bank 10,170 38,174
3,280,074 4,281,467
CREDITORS
Amounts falling due within one year 7 2,719,825 3,231,090
NET CURRENT ASSETS 560,249 1,050,377
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,772

1,072,181

CREDITORS
Amounts falling due after more than one
year

8

(15,832

)

(25,052

)

PROVISIONS FOR LIABILITIES - (4,544 )
NET ASSETS 560,940 1,042,585

CAPITAL AND RESERVES
Called up share capital 70 70
Capital redemption reserve 34 34
Retained earnings 560,836 1,042,481
SHAREHOLDERS' FUNDS 560,940 1,042,585

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.

MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)

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.

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 28 October 2024 and were signed on its behalf by:





C S Moore - Director


MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

MLB Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities. When the outcome of a construction contract cannot be estimated reliably, the Company shall recognise revenue only to the extent of contract costs incurred that it is probable will be recoverable and the Company shall recognise contract cost as an expense in the period in which they are incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on a reducing balance basis
Motor vehicles - 15% on a straight line basis
Computer equipment - 20% on a reducing balance basis

Stocks
Stocks are initially stated at cost and held at the lower of this initial amount and net realisable value. Costs comprise direct materials and, where applicable, direct labour and those overheads that have been incurred in bringing the inventories to their present location and condition. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

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.


MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 10,767 21,198 11,086 43,051
Additions - - 2,501 2,501
Disposals - (5,750 ) - (5,750 )
At 31 October 2023 10,767 15,448 13,587 39,802
DEPRECIATION
At 1 November 2022 3,876 12,719 4,652 21,247
Charge for year 1,378 2,317 1,787 5,482
Eliminated on disposal - (3,450 ) - (3,450 )
At 31 October 2023 5,254 11,586 6,439 23,279
NET BOOK VALUE
At 31 October 2023 5,513 3,862 7,148 16,523
At 31 October 2022 6,891 8,479 6,434 21,804

MLB PROPERTIES LIMITED (REGISTERED NUMBER: SC388810)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. STOCKS
2023 2022
£    £   
Stocks 4,588 4,997
Work-in-progress 3,137,217 3,929,630
3,141,805 3,934,627

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 34,102
Other debtors 128,099 274,564
128,099 308,666

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,781
Trade creditors 13,052 210
Taxation and social security 117,686 122,690
Other creditors 2,579,087 3,097,409
2,719,825 3,231,090

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 15,832 25,052

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Loans 2,110,000 2,576,837

The loans are secured by a charge over the company's property and undertakings.