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REGISTERED NUMBER: 10627915 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MRL SOUTHERN PROJECTS LIMITED

MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MRL SOUTHERN PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr M R Langley





REGISTERED OFFICE: 4 Spur Road
Cosham
PORTSMOUTH
Hampshire
PO6 3EB





REGISTERED NUMBER: 10627915 (England and Wales)





ACCOUNTANTS: AMR Bookkeeping & Accounts Limited
4 Spur Road
Cosham
PORTSMOUTH
Hampshire
PO6 3EB

MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,857 27,456

CURRENT ASSETS
Stocks 5 23,268 -
Debtors 6 242,174 242,174
Cash at bank 10,188 31,113
275,630 273,287
CREDITORS
Amounts falling due within one year 7 270,719 129,326
NET CURRENT ASSETS 4,911 143,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,768

171,417

CREDITORS
Amounts falling due after more than one year 8 30,546 40,864
NET ASSETS 10,222 130,553

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 10,221 130,552
SHAREHOLDERS' FUNDS 10,222 130,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 15 November 2023 and were signed by:





Mr M R Langley - Director


MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

MRL Southern Projects 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.

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 - 20% on reducing balance
Tooling and development - 20% on reducing balance
Motor vehicles - 20% 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.

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.

MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

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 1 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Tooling
Plant and and Motor
machinery development vehicles Totals
£    £    £    £   
COST
At 1 March 2022 30,560 960 62,047 93,567
Additions 874 - 16,492 17,366
At 28 February 2023 31,434 960 78,539 110,933
DEPRECIATION
At 1 March 2022 20,546 645 44,920 66,111
Charge for year 2,178 63 6,724 8,965
At 28 February 2023 22,724 708 51,644 75,076
NET BOOK VALUE
At 28 February 2023 8,710 252 26,895 35,857
At 28 February 2022 10,014 315 17,127 27,456

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 23,268 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 200,674 200,674
Other debtors 41,500 41,500
242,174 242,174

MRL SOUTHERN PROJECTS LIMITED (REGISTERED NUMBER: 10627915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors - 1
Tax 46,951 55,251
Social security and other taxes 34,338 11,296
VAT 34,058 53,817
Other creditors 1,538 1,538
Credit Card-Aqua 6,400 5,723
Credit Card- Capital One 1,930 1,700
Directors' current accounts 145,504 -
270,719 129,326

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Other loans (see note 9) 30,546 40,864

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due between one and two years:
Bounce back loan 30,546 40,864

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary £1.00 1 1

11. RESERVES
Retained
earnings
£   

At 1 March 2022 130,552
Deficit for the year (120,331 )
At 28 February 2023 10,221