Registered number
09021528
MRO Development Ltd
Filleted Accounts
31 July 2022
MRO Development Ltd
Registered number: 09021528
Balance Sheet
as at 31 July 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 - 486
Current assets
Debtors 4 - (8)
Cash at bank and in hand - 38,784
- 38,776
Creditors: amounts falling due within one year 5 (155) 12,766
Net current (liabilities)/assets (155) 51,542
Net (liabilities)/assets (155) 52,028
Capital and reserves
Called up share capital 4 4
Profit and loss account (159) 52,024
Shareholders' funds (155) 52,028
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R.B.Thomas
Director
Approved by the board on 30 August 2022
MRO Development Ltd
Notes to the Accounts
for the period from 1 June 2021 to 31 July 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years useful life
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2021 1,166
At 31 July 2022 1,166
Depreciation
At 1 June 2021 680
Charge for the period 486
At 31 July 2022 1,166
Net book value
At 31 July 2022 -
At 31 May 2021 486
4 Debtors 2022 2021
£ £
Trade debtors - (8)
5 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs - (635)
S455 tax liability - (12,500)
Other creditors 155 369
155 (12,766)
6 Other information
MRO Development Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Accountancy House
4 Priory Road
Kenilworth
Warwickshire
CV8 1LL
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