Registered number
08882651
M&L Offshore Ltd.
Filleted Accounts
29 February 2024
M&L Offshore Ltd.
Registered number: 08882651
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14 19
Current assets
Debtors 4 14,516 4,467
Cash at bank and in hand 14,092 10,649
28,608 15,116
Creditors: amounts falling due within one year 5 (28,525) (15,033)
Net current assets 83 83
Net assets 97 102
Capital and reserves
Called up share capital 100 100
Profit and loss account (3) 2
Shareholders' funds 97 102
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Matthew Thomas Robert Taylor
Director
Approved by the board on 5 November 2024
M&L Offshore 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, where appropriate. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Equipment 25% per annum - reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 249
At 29 February 2024 249
Depreciation
At 1 March 2023 230
Charge for the year 5
At 29 February 2024 235
Net book value
At 29 February 2024 14
At 28 February 2023 19
4 Debtors 2024 2023
£ £
Trade debtors 14,500 4,450
Other debtors 16 17
14,516 4,467
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,500 1,300
Directors' current account 27,025 13,733
28,525 15,033
6 Controlling party
The company is ultimately controlled by Mr and Mrs M.T.R. Taylor by virtue of their holding 100% of the issued share capital.
7 Other information
M&L Offshore Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
5 Foxdale Court
Murton
Seaham
County Durham
SR7 9GY
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