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MML LONDON INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
MML London Investment Limited is a private company limited by shares and registered in England & Wales. The address of its registered office 124 Finchley Road, London, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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:
Revenue comprises the the company's share of profits receivable from its investments in theatrical productions and is recognised in the period in which the profits have arisen.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in theatrical productions are recognised at the recoupable amount at the balance sheet date being the amount contributed to the capitalisation of the productions less amounts recovered, plus anticipated profits aftert making provision for losses where recovery of outstanding contributions in full is not anticipated.
Short-term debtors are measured at transaction price, less any impairment.
Short term creditors are measured at the transaction price.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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