MFL Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03368476 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2022

for

MFL Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Piff

C I Piff

SECRETARY:

C I Piff

REGISTERED OFFICE:

The Hawthorns

Ruett Lane

Farrington Gurney

BRISTOL

BS39 6UP

REGISTERED NUMBER:

03368476 (England and Wales)

ACCOUNTANTS:

Graham Long and Company

Chartered Management Accountants

Unit A

Lewin House

The Street

RADSTOCK

BA3 3FJ

FIXED ASSETS

Tangible assets

4

193,856

173,956

Investments

5

-

-

193,856

173,956

CURRENT ASSETS

Cash at bank

27,194

21,578

CREDITORS

Amounts falling due within one year

6

173,988

165,586

NET CURRENT LIABILITIES

(146,794

)

(144,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

47,062

29,948

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

(18,241

)

(18,241

)

Retained earnings

65,301

48,187

47,062

29,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2022 and were signed on its behalf by:

C I Piff - Director

Mrs J M Piff - Director

1.	STATUTORY INFORMATION

MFL Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 6 April 2021

185,075

Revaluations

48,500

Reclassification/transfer

(28,600

)

At 5 April 2022

204,975

DEPRECIATION

At 6 April 2021

and 5 April 2022

11,119

NET BOOK VALUE

At 5 April 2022

193,856

At 5 April 2021

173,956

Cost or valuation at 5 April 2022 is represented by:

Land and

buildings

£

Valuation in 2021

185,075

Valuation in 2022

19,900

204,975

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Disposals

(28,600

)

Reclassification/transfer

28,600

At 5 April 2022

-

NET BOOK VALUE

At 5 April 2022

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.22

5.4.21

£

£

Other creditors

173,988

165,586

7.

RESERVES

Revaluation

reserve

£

At 6 April 2021

and 5 April 2022

(18,241

)