ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 30 December 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 2025

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 2025

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 (2024 - 3).

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 2025

	2025 £	2024 £
Current taxation
UK corporation tax	16,430	9,568
UK corporation tax adjustment to prior periods	(102)	50
	16,328	9,618
Deferred taxation
Arising from origination and reversal of timing differences	(323)	-
Arising from changes in tax rates and laws	-	122
Total deferred taxation	(323)	122
Tax expense in the income statement	16,005	9,740

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Intangible assets

	Intellectual property  £	Total £
Cost or valuation
At 1 April 2024	560	560
At 31 March 2025	560	560
Amortisation
At 1 April 2024	388	388
Amortisation charge	112	112
At 31 March 2025	500	500
Carrying amount
At 31 March 2025	60	60
At 31 March 2024	172	172

6	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	6,062	1,951	8,952	16,965
At 31 March 2025	6,062	1,951	8,952	16,965
Depreciation
At 1 April 2024	3,087	1,743	4,755	9,585
Charge for the year	446	31	818	1,295
At 31 March 2025	3,533	1,774	5,573	10,880
Carrying amount
At 31 March 2025	2,529	177	3,379	6,085
At 31 March 2024	2,975	207	4,197	7,379

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		2,927	4,864
Amounts owed by related parties	11	450	450
Prepayments		700	950
Other debtors		16,315	1,854
Corporation tax recoverable		22,132	22,132
Withholding tax		3,008	3,008
Other taxation		8,624	8,469
		54,156	41,727

ML&J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	234	590
Taxation and social security	1,403	-
Accruals and deferred income	12,935	20,260
Other creditors	4,600	5,766
Pension contributions unpaid	139	139
Credit card account	-	995
Corporation tax	15,465	9,637
Directors' loan account	4,308	10,553
	39,084	47,940