Company Registration No. 07131584 (England and Wales)
M.R. Heating Services Limited
Unaudited accounts
for the year ended 31 January 2023
M.R. Heating Services Limited
Unaudited accounts
Contents
M.R. Heating Services Limited
Company Information
for the year ended 31 January 2023
Secretary
Joanne Richardson
Company Number
07131584 (England and Wales)
Registered Office
22 Mariners Road
Blundellsands
Merseyside
L23 6SX
Accountants
Armet Accounting Ltd
Room 31
Haypark Business Centre
Polmont
FK2 0NZ
M.R. Heating Services Limited
Statement of financial position
as at 31 January 2023
Cash at bank and in hand
23,290
31,867
Creditors: amounts falling due within one year
(18,371)
(33,355)
Net current assets
12,382
6,888
Total assets less current liabilities
12,621
7,207
Creditors: amounts falling due after more than one year
(20,945)
(20,945)
Provisions for liabilities
Net liabilities
(8,369)
(13,798)
Called up share capital
100
100
Profit and loss account
(8,469)
(13,898)
Shareholders' funds
(8,369)
(13,798)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 October 2023 and were signed on its behalf by
Mark Richardson
Director
Company Registration No. 07131584
M.R. Heating Services Limited
Notes to the Accounts
for the year ended 31 January 2023
M.R. Heating Services Limited is a private company, limited by shares, registered in England and Wales, registration number 07131584. The registered office is 22 Mariners Road, Blundellsands, Merseyside, L23 6SX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
M.R. Heating Services Limited
Notes to the Accounts
for the year ended 31 January 2023
Taxation and deferred 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 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 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.
Current and deferred taxation assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The director continues to support the ongoing operation of the company.
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Intangible fixed assets
Goodwill
M.R. Heating Services Limited
Notes to the Accounts
for the year ended 31 January 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2022
2,269
59
1,573
3,901
At 31 January 2023
2,269
59
1,573
3,901
At 1 February 2022
2,166
59
1,357
3,582
Charge for the year
24
-
56
80
At 31 January 2023
2,190
59
1,413
3,662
At 31 January 2023
79
-
160
239
At 31 January 2022
103
-
216
319
Amounts falling due within one year
Accrued income and prepayments
187
299
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
73
6,166
Trade creditors
8,986
18,029
Taxes and social security
4,954
5,034
Loans from directors
3,175
3,074
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Creditors: amounts falling due after more than one year
2023
2022
The creditor due to be repaid after more than one year is a bounce back loan with a term of 6 years. Interest is charged at 2.5% and there is no security over the assets of the company.
M.R. Heating Services Limited
Notes to the Accounts
for the year ended 31 January 2023
9
Operating lease commitments
2023
2022
At 31 January 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,613
-
Later than one year and not later than five years
9,612
-
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Average number of employees
During the year the average number of employees was 2 (2022: 2).