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Registration number: 07581233

ML&J Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

ML&J Limited

Company Information

Directors

Mr Athar-Ul-Haque Malik

Mrs Gina Rowe Malik

Miss Keira Jane Malik

Company secretary

Miss Keira Jane Malik

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra 9 Berners Place
London
W1T 3AD

 

ML&J Limited

(Registration number: 07581233)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

172

284

Tangible assets

6

7,380

6,891

 

7,552

7,175

Current assets

 

Debtors

7

41,276

41,090

Cash at bank and in hand

 

66,877

54,429

 

108,153

95,519

Creditors: Amounts falling due within one year

8

(47,490)

(43,496)

Net current assets

 

60,663

52,023

Total assets less current liabilities

 

68,215

59,198

Provisions for liabilities

(1,845)

(1,723)

Net assets

 

66,370

57,475

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

66,360

57,465

Shareholders' funds

 

66,370

57,475

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

 

ML&J Limited

(Registration number: 07581233)
Balance Sheet as at 31 March 2024

.........................................
Mr Athar-Ul-Haque Malik
Director

 

ML&J Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

10

57,465

57,475

Profit for the year

-

40,895

40,895

Dividends

-

(32,000)

(32,000)

At 31 March 2024

10

66,360

66,370

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

10

40,757

40,767

Profit for the year

-

36,708

36,708

Dividends

-

(20,000)

(20,000)

At 31 March 2023

10

57,465

57,475

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the provision of thespian services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Office equipment

15% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Current taxation

UK corporation tax

9,568

8,758

UK corporation tax adjustment to prior periods

50

(21)

9,618

8,737

Deferred taxation

Arising from changes in tax rates and laws

122

2

Tax expense in the income statement

9,740

8,739

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Intellectual property
 £

Total
£

Cost or valuation

At 1 April 2023

560

560

At 31 March 2024

560

560

Amortisation

At 1 April 2023

276

276

Amortisation charge

112

112

At 31 March 2024

388

388

Carrying amount

At 31 March 2024

172

172

At 31 March 2023

284

284

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

6,062

1,951

7,162

15,175

Additions

-

-

1,790

1,790

At 31 March 2024

6,062

1,951

8,952

16,965

Depreciation

At 1 April 2023

2,562

1,707

4,015

8,284

Charge for the year

525

36

740

1,301

At 31 March 2024

3,087

1,743

4,755

9,585

Carrying amount

At 31 March 2024

2,975

208

4,197

7,380

At 31 March 2023

3,500

244

3,147

6,891

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

4,864

2,480

Prepayments

949

1,847

Other debtors

1,854

270

Corporation tax recoverable

22,132

22,132

Withholding tax

3,008

3,008

Other taxation

8,469

11,353

 

41,276

41,090

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

590

217

Taxation and social security

-

759

Accruals and deferred income

20,260

17,380

Other creditors

5,316

10,779

Pension contributions unpaid

139

102

Credit card account

995

1,406

Corporation tax control

9,637

8,858

Director loan account

10,553

3,995

47,490

43,496

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

         

10

Dividends

Final dividends paid

   

2024
£

 

2023
£

Final dividend of £3,200.00 (2023 - £2,000.00) per each Ordinary

 

32,000

 

20,000

         

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

 

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Remuneration

15,000

15,000

Contributions paid to money purchase schemes

262

263

15,262

15,263

Dividends paid to directors

   

2024
£

 

2023
£

Mr Athar-Ul-Haque Malik

       

 

12,800

 

8,000

         

Mrs Gina Rowe Malik

       

 

12,800

 

-

         

Miss Keira Jane Malik

       

 

3,200

 

-