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REGISTERED NUMBER: 07021521 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

MRF Fabrications (Southern) Limited

MRF Fabrications (Southern) Limited (Registered number: 07021521)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MRF Fabrications (Southern) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S J Hall
K Hall



REGISTERED OFFICE: Unit 2 Holton Road
Holton Heath Trading Park
Poole
Dorset
BH16 6LG



REGISTERED NUMBER: 07021521 (England and Wales)



ACCOUNTANTS: Accountancy Co-operative
Unit 2A
The Courtyard Craft Centre,
Huntick Rd, Lytchett Minster
Poole
Dorset
BH16 6BA



BANKERS: Lloyds Bank plc
Victoria Ferndown Branch
84 Victoria Road
Ferndown
Dorset
BH22 9JB

MRF Fabrications (Southern) Limited (Registered number: 07021521)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 170,423 154,889
170,423 154,889

CURRENT ASSETS
Stocks 17,500 17,500
Debtors 6 68,173 64,199
Cash at bank 7 401,613 369,549
487,286 451,248
CREDITORS
Amounts falling due within one year 8 236,038 255,632
NET CURRENT ASSETS 251,248 195,616
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,671

350,505

CREDITORS
Amounts falling due after more than one
year

9

(22,584

)

(31,667

)

PROVISIONS FOR LIABILITIES 11 (26,509 ) (29,522 )
NET ASSETS 372,578 289,316

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 372,478 289,216
SHAREHOLDERS' FUNDS 372,578 289,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

MRF Fabrications (Southern) Limited (Registered number: 07021521)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





K Hall - Director


MRF Fabrications (Southern) Limited (Registered number: 07021521)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

MRF Fabrications (Southern) 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of two 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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and at variable rates on reducing balance

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.

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.

MRF Fabrications (Southern) Limited (Registered number: 07021521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 6 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

MRF Fabrications (Southern) Limited (Registered number: 07021521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 437,847
Additions 63,146
Disposals (19,500 )
At 31 March 2023 481,493
DEPRECIATION
At 1 April 2022 282,958
Charge for year 45,172
Eliminated on disposal (17,060 )
At 31 March 2023 311,070
NET BOOK VALUE
At 31 March 2023 170,423
At 31 March 2022 154,889

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 52,565 48,591
Other debtors 15,608 15,608
68,173 64,199

7. CASH AT BANK
31.3.23 31.3.22
£    £   
Lloyds business bank account 401,613 369,549

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 68,289 103,702
Taxation and social security 59,620 34,365
Other creditors 98,129 107,565
236,038 255,632

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,584 31,667

MRF Fabrications (Southern) Limited (Registered number: 07021521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year - 37,066
Between one and five years - 147,262
- 184,328

11. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 26,509 29,522

Deferred
tax
£   
Balance at 1 April 2022 29,522
Provided during year (3,013 )
Balance at 31 March 2023 26,509

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
K Hall and Mrs S J Hall
Balance outstanding at start of year (102,924 ) (70,754 )
Amounts advanced 17,714 32,430
Amounts repaid - (64,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (85,210 ) (102,924 )

13. RELATED PARTY DISCLOSURES

The controlling parties are the directors, Mr K Hall and Mrs S J Hall, who each own 50% of the
issued ordinary share capital of the company. Dividends totalling £60,120 (2022 - £64,600) were
paid during the year.