MML Inc. Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05304042 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

MML Inc. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Lebbe

SECRETARY:

REGISTERED OFFICE:

231 Brompton Road

London

SW3 2BP

REGISTERED NUMBER:

05304042 (England and Wales)

ACCOUNTANTS:

Hiland Consulting Limited

Hiland House

282 The Ridgeway

Botany Bay

Enfield

Middlesex

EN2 8AP

FIXED ASSETS

Tangible assets

4

1,714,027

1,711,260

CURRENT ASSETS

Debtors

5

22,041

22,532

Cash at bank

21,034

31,256

43,075

53,788

CREDITORS

Amounts falling due within one year

6

1,934,003

1,839,792

NET CURRENT LIABILITIES

(1,890,928

)

(1,786,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(176,901

)

(74,744

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(176,904

)

(74,747

)

SHAREHOLDERS' FUNDS

(176,901

)

(74,744

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2023 and were signed by:

D Lebbe - Director

1.	STATUTORY INFORMATION

MML Inc. Limited 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.

Tangible fixed assets

Depreciation is not provided on land and buildings.

Going concern

MML Inc. Limited holds the long leasehold on a commercial property. Until June 2018 this was sublet to Knightsbridge Dry Cleaners Limited, a company controlled by the directors of MML Inc. Limited. In 2018 Knightsbridge Dry Cleaners Limited entered into voluntary liquidation.

At the date of this report the company is seeking to sublet the commercial property and to sell the long leasehold. Following a sale of the long leasehold the company will repay the shareholder loans and then enter into voluntary liquidation.

The main company asset is the long leasehold, shown at cost. In the opinion of the directors there is no requirement to revalue this asset in light of the circumstances set out above. At 31st December 2022 the Company had negative equity. The main creditors are loans owed to the shareholders, which increased by £105,000 in the period under review in order to support the Company. The shareholder and director undertake to continue to support the Company until the long leasehold is sold.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2022

1,711,260

-

1,711,260

Additions

-

3,690

3,690

At 31 December 2022

1,711,260

3,690

1,714,950

DEPRECIATION

Charge for year

-

923

923

At 31 December 2022

-

923

923

NET BOOK VALUE

At 31 December 2022

1,711,260

2,767

1,714,027

At 31 December 2021

1,711,260

-

1,711,260

Land and buildings consist of the costs of acquiring a 999 year lease on a commercial property, which commenced on 10 December 2004 and expires on 9 December 3003. The Directors are of the opinion that a fair value cannot be measured reliably and so the property is included under tangible fixed assets. The Directors are of the opinion that there has been no impairment in value.

Cost or valuation at 31 December 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

1,711,260

-

1,711,260

Cost

-

3,690

3,690

1,711,260

3,690

1,714,950

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

22,041

22,532

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

14,097

18,798

Other creditors

1,919,906

1,820,994

1,934,003

1,839,792

7.	RELATED PARTY DISCLOSURES