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Registered number: 8546440
M&L Dairying Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Harrisons Accountancy Services
Grapha Farm
Caistor Road
Market Rasen
Lincolnshire
LN8 3FD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 8546440
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,360 3,360
Tangible Assets 5 160,082 152,641
163,442 156,001
CURRENT ASSETS
Stocks 6 146,007 140,649
Debtors 7 52,391 21,016
Cash at bank and in hand 15,760 20,632
214,158 182,297
Creditors: Amounts Falling Due Within One Year 8 (127,215 ) (99,583 )
NET CURRENT ASSETS (LIABILITIES) 86,943 82,714
TOTAL ASSETS LESS CURRENT LIABILITIES 250,385 238,715
Creditors: Amounts Falling Due After More Than One Year 9 (42,570 ) (61,291 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,199 ) (27,511 )
NET ASSETS 178,616 149,913
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 178,516 149,813
SHAREHOLDERS' FUNDS 178,616 149,913
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For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Michael Trayte
Director
23/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
M&L Dairying Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8546440 . The registered office is Barn Farm, Alstone Lane, Haughton, Stafford, ST18 9EQ.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are entitlements. It has not been amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 4% straight line and 10% reducing balance
Leasehold 10% reducing balance
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 33% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 2 2
2 2
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 3,360
As at 30 June 2024 3,360
Net Book Value
As at 30 June 2024 3,360
As at 1 July 2023 3,360
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 July 2023 - 9,685 225,406 16,895
Additions 23,921 - 10,596 -
Disposals - - (1,750 ) -
As at 30 June 2024 23,921 9,685 234,252 16,895
Depreciation
As at 1 July 2023 - 1,841 83,766 13,888
...CONTINUED
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Page 5
Provided during the period 1,257 1,177 23,338 752
Disposals - - (1,069 ) -
As at 30 June 2024 1,257 3,018 106,035 14,640
Net Book Value
As at 30 June 2024 22,664 6,667 128,217 2,255
As at 1 July 2023 - 7,844 141,640 3,007
Fixtures & Fittings Total
£ £
Cost
As at 1 July 2023 1,548 253,534
Additions 268 34,785
Disposals - (1,750 )
As at 30 June 2024 1,816 286,569
Depreciation
As at 1 July 2023 1,398 100,893
Provided during the period 139 26,663
Disposals - (1,069 )
As at 30 June 2024 1,537 126,487
Net Book Value
As at 30 June 2024 279 160,082
As at 1 July 2023 150 152,641
6. Stocks
2024 2023
£ £
Herd account 122,537 120,553
Valuation 23,470 20,096
146,007 140,649
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,245 7,249
Prepayments and accrued income 640 725
Other debtors 44,506 13,042
52,391 21,016
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,743 13,125
Trade creditors 20,130 22,368
Bank loans and overdrafts 13,071 10,200
Corporation tax 14,017 3,547
Accruals and deferred income 13,620 2,265
Directors' loan accounts 55,634 48,078
127,215 99,583
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 33,899 42,316
Bank loans 8,671 18,975
42,570 61,291
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,743 13,125
Later than one year and not later than five years 33,899 42,316
44,642 55,441
44,642 55,441
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 27,511 27,511
Additions 1,688 1,688
Balance at 30 June 2024 29,199 29,199
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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