MML Technology Limited - Accounts to registrar - small 17.2

MML Technology Limited - Accounts to registrar - small 17.2


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MML TECHNOLOGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016






MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MML TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: I Goodacre





SECRETARY: Mrs M A Goodacre





REGISTERED OFFICE: Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 07881927(England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 1,873 1,260
1,873 3,260

CURRENT ASSETS
Debtors 6 - 1,116
Cash at bank - 3,683
- 4,799
CREDITORS
Amounts falling due within one year 7 20,561 22,302
NET CURRENT LIABILITIES (20,561 ) (17,503 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,688 ) (14,243 )

PROVISIONS FOR LIABILITIES 9 400 -
NET LIABILITIES (19,088 ) (14,243 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (19,188 ) (14,343 )
SHAREHOLDERS' FUNDS (19,088 ) (14,243 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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.

MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

BALANCE SHEET - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 30 August 2017and were signed by:





I Goodacre- Director


MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

MML Technology 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

The company meets its day to day working capital requirements through the support of the director, who has
indicated that he is willing to support the company for the foreseeable future. On this basis, the director
considers it appropriate to prepare the financial statements on the going concern basis. The financial
statements do not include any adjustments that would result from a withdrawal of the support by the director.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance

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 balance sheet date.


MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet 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 3.

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2016
and 31 December 2016 10,000
AMORTISATION
At 1 January 2016 8,000
Charge for year 2,000
At 31 December 2016 10,000
NET BOOK VALUE
At 31 December 2016 -
At 31 December 2015 2,000

MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2016 2,841
Additions 948
At 31 December 2016 3,789
DEPRECIATION
At 1 January 2016 1,581
Charge for year 335
At 31 December 2016 1,916
NET BOOK VALUE
At 31 December 2016 1,873
At 31 December 2015 1,260

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other debtors - 1,116

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 451 -
Taxation and social security 15,720 19,018
Other creditors 4,390 3,284
20,561 22,302

8. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Bank overdraft 451 -

The bank overdraft is secured by way of a personal guarantee made by the director.

9. PROVISIONS FOR LIABILITIES
2016 2015
£    £   
Deferred tax 400 -

MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 400
Balance at 31 December 2016 400

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 ordinary £1.00 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2016 (14,343 )
Profit for the year 32,425
Dividends (37,270 )
At 31 December 2016 (19,188 )

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and
31 December 2015:

2016 2015
£    £   
I Goodacre
Balance outstanding at start of year 1,116 4,181
Amounts advanced - 1,116
Amounts repaid (1,116 ) (4,181 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,116

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £22,362 (2015 - £24,120) were paid to the director .

MML TECHNOLOGY LIMITED (REGISTERED NUMBER: 07881927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


14. FIRST YEAR ADOPTION

The policies applied under the entity's previous accounting framework are not materially different to FRS 102
and have not impacted on equity or profit and loss.