|
MLL 40GHZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
MLL 40GHZ Limited (the "Company") is a limited liability company incorporated in the United Kingdom and registered in England and Wales. The registration number is 09280585. The registered office is MLL Telecom Ltd, Marlow International Parkway, Marlow, Buckinghamshire SL7 1YL.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the period end, the Company had net liabilities of £180,734 (2024: £171,801). The net liabilities have arisen mainly due to the valuation of the preference shares, which will only require repayment on the sale or wind up of the Company and amortisation of the spectrum licenses.
Accrued preference share dividends will be payable only when the Company has sufficient funds.
As the Company will continue to be supported by Arva Limited, the ultimate parent company, the directors consider it appropriate to prepare the accounts on the going concern basis.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Spectrum licences are measured at cost less accumulated amortisation and any indication of impairment losses. Following the valuation of a similar spectrum licence should be suspended until it begins to be used to generate revenue.
In the prior year, the licence was amortised based on an expected useful life of 15 years. the licence is assessed for impairment on a annual basis
If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|