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REGISTERED NUMBER: 03244982 (England and Wales)





















MLS SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022






MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MLS SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2022







DIRECTORS: R A Briggs
P Lavelle
C I Followell
Mrs M J Swain
M T Varnsverry





REGISTERED OFFICE: 22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ





REGISTERED NUMBER: 03244982 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

BALANCE SHEET
31 AUGUST 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,223 73,507

CURRENT ASSETS
Stocks 38,950 35,500
Debtors 5 1,044,100 842,875
Cash at bank 476,640 725,918
1,559,690 1,604,293
CREDITORS
Amounts falling due within one year 6 335,964 602,436
NET CURRENT ASSETS 1,223,726 1,001,857
TOTAL ASSETS LESS CURRENT LIABILITIES 1,278,949 1,075,364

CREDITORS
Amounts falling due after more than one
year

7

(31,445

)

(52,728

)

PROVISIONS FOR LIABILITIES (2,296 ) (5,246 )
NET ASSETS 1,245,208 1,017,390

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,245,108 1,017,290
SHAREHOLDERS' FUNDS 1,245,208 1,017,390

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

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

The directors acknowledge their 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.

MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

BALANCE SHEET - continued
31 AUGUST 2022


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





P Lavelle - Director


MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022


1. STATUTORY INFORMATION

MLS Solutions Ltd 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 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Straight line over the term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment properties
Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income,

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 17 ) .

MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2021 22,870 103,005 13,930 130,743 270,548
Additions - 6,050 - 16,695 22,745
Disposals (22,870 ) (2,667 ) - (22,320 ) (47,857 )
At 31 August 2022 - 106,388 13,930 125,118 245,436
DEPRECIATION
At 1 September 2021 22,870 92,278 11,035 70,858 197,041
Charge for year - 4,194 724 14,379 19,297
Eliminated on disposal (22,870 ) - - (3,255 ) (26,125 )
At 31 August 2022 - 96,472 11,759 81,982 190,213
NET BOOK VALUE
At 31 August 2022 - 9,916 2,171 43,136 55,223
At 31 August 2021 - 10,727 2,895 59,885 73,507

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 388,539 437,331
Amounts owed by participating interests 400,000 -
Other debtors 255,561 405,544
1,044,100 842,875

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 24,919 32,364
Hire purchase contracts (see note 8) - 6,563
Trade creditors 120,180 125,052
Taxation and social security 165,283 354,573
Other creditors 25,582 83,884
335,964 602,436

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 31,445 52,728

MLS SOLUTIONS LTD (REGISTERED NUMBER: 03244982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year - 6,563

Non-cancellable operating leases
2022 2021
£    £   
Within one year 66,851 41,714
Between one and five years 77,155 103,814
144,006 145,528

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2022 and 31 August 2021:

2022 2021
£    £   
R A Briggs
Balance outstanding at start of year - -
Amounts advanced 121,057 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 121,057 -

P Lavelle
Balance outstanding at start of year - -
Amounts advanced 108,593 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 108,593 -

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.