Registration number:
ML Financial Associates Limited
for the Year Ended 30 June 2025
ML Financial Associates Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
ML Financial Associates Limited
Registration number: 07396003
Balance Sheet as at 30 June 2025
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2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.
ML Financial Associates Limited
Registration number: 07396003
Balance Sheet as at 30 June 2025 (continued)
For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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
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ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025
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General information |
The company is a private company limited by share capital, incorporated in England..
The address of its registered office is:
United Kingdom
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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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.
ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
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.
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:
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Asset class |
Depreciation method and rate |
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Fixture, fittings and equipment |
20% straight line |
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Motor Vehicles |
25% Reducing balance |
ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2024 |
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Additions |
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Disposals |
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At 30 June 2025 |
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Depreciation |
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At 1 July 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 30 June 2025 |
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Carrying amount |
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At 30 June 2025 |
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At 30 June 2024 |
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ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Directors loan account |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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44 |
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44 |
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44 |
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44 |
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93 |
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93 |
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93 |
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93 |
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13 |
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13 |
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13 |
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13 |
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ML Financial Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)
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Loans and borrowings |
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2025 |
2024 |
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Non-current loans and borrowings |
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HP and finance lease liabilities |
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2025 |
2024 |
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Current loans and borrowings |
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HP and finance lease liabilities |
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