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Registered number: 08042091
ML PRODUCTION LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
Rajjak Associates Ltd
Chartered Certified Accountants
193 Bow Common Lane
London
E3 4JJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08042091
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,463 7,285
5,463 7,285
CURRENT ASSETS
Debtors 5 6,327 1,819
Cash at bank and in hand 7,611 10,162
13,938 11,981
Creditors: Amounts Falling Due Within One Year 6 (10,701 ) (11,707 )
NET CURRENT ASSETS (LIABILITIES) 3,237 274
TOTAL ASSETS LESS CURRENT LIABILITIES 8,700 7,559
Creditors: Amounts Falling Due After More Than One Year 7 (5,041 ) (7,159 )
NET ASSETS 3,659 400
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 3,559 300
SHAREHOLDERS' FUNDS 3,659 400
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Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr KIERON FOSTER
Director
27/12/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
ML PRODUCTION LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08042091 . The registered office is 71C THORNTON AVENUE, LONDON, SW2 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% SL
Motor Vehicles 20% RB
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 10,110 19,350 29,460
As at 30 April 2024 10,110 19,350 29,460
Depreciation
As at 1 May 2023 8,060 14,115 22,175
Provided during the period 513 1,309 1,822
As at 30 April 2024 8,573 15,424 23,997
...CONTINUED
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Net Book Value
As at 30 April 2024 1,537 3,926 5,463
As at 1 May 2023 2,050 5,235 7,285
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,354 1,354
Other taxes and social security - 465
Director's loan account 4,973 -
6,327 1,819
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 5,816 10,161
Corporation tax 3,706 380
Other taxes and social security 13 -
Accruals and deferred income 1,166 1,166
10,701 11,707
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,041 7,159
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
9. Ultimate Controlling Party
The company's ultimate controlling party is Kieron Foster by virtue of his ownership of 75% of the issued share capital in the company.
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