MML TECHNOLOGY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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 2017 and were signed by:

I Goodacre - Director

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.

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

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

-

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 .

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.