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ML Interiors Ltd
Registered Number:08412681
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
ML Interiors Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08412681
As at 31 March 2024
ML Interiors Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
50,000
50,000
2
Property, plant and equipment
6,584
21,062
3
56,584
71,062
Current assets
Trade and other receivables
104,032
278,754
4
7,596
Cash and cash equivalents
34,786
313,540
111,628
Trade and other payables: amounts falling due within one
year
(80,737)
(285,886)
5
30,891
27,654
Net current assets
Total assets less current liabilities
84,238
101,953
Trade and other payables: amounts falling due after more
than one year
(71,600)
(61,186)
6
23,052
Net assets
30,353
Capital and reserves
Called up share capital
100
100
Retained earnings
22,952
30,253
23,052
30,353
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Matthew Lawler Director
These financial statements were approved and authorised for issue by the Board on 02 July 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2024
ML Interiors Ltd
Notes to the Financial Statements
Statutory Information
ML Interiors Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
08412681.
Principal place of business:
1 The Oakleys
High Wych Road
High Wych
Hertfordshire
CM21 0DU
Registered address:
Summit House
Horsecroft Road
Harlow
CM19 5BN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25 Reducing balance
25 Reducing balance
Motor vehicles
25 Reducing balance
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
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5
For the year ended 31 March 2024
ML Interiors Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2023
50,000
At 31 March 2024
50,000
Net book value
At 31 March 2024
50,000
At 31 March 2023
50,000
3. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 April 2023
77,537
8,250
65,288
3,999
At 31 March 2024
3,999
65,288
8,250
77,537
Provision for depreciation and impairment
At 01 April 2023
56,475
3,047
51,067
2,361
Charge for year
14,478
1,301
12,849
328
At 31 March 2024
70,953
4,348
63,916
2,689
At 31 March 2024
Net book value
1,310
1,372
3,902
6,584
At 31 March 2023
1,638
14,221
5,203
21,062
4. Trade and other receivables
2023
2024
£
£
Trade debtors
170,143
35,737
Other debtors
108,611
68,295
104,032
278,754
The debtors above include the following amounts falling due after more than one year:
Other debtors
2,900
2,900
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6
For the year ended 31 March 2024
ML Interiors Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
149,590
43,113
Taxation and social security
26,329
18,454
Other creditors
109,967
19,170
285,886
80,737
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
34,157
39,645
Other creditors
27,029
31,955
61,186
71,600
7. Average number of persons employed
During the year the average number of employees was 4 (2023 : 3)
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