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Company Registration No. 10706747 (England and Wales)
MRM Design Studio Ltd Unaudited accounts for the year ended 31 March 2023
MRM Design Studio Ltd Unaudited accounts Contents
Page
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MRM Design Studio Ltd Company Information for the year ended 31 March 2023
Directors
Mr S Glanville Mr D Millar Mr M Mitchell
Company Number
10706747 (England and Wales)
Registered Office
The Generator Quay House Kings Wharf Exeter EX2 4AN
Accountants
Brambillow Accounting Ltd Brookhouse Cranoe Road Welham Leicestershire LE16 7UH
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MRM Design Studio Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,625 
5,011 
Current assets
Debtors
28,367 
11,545 
Cash at bank and in hand
36,291 
30,313 
64,658 
41,858 
Creditors: amounts falling due within one year
(42,370)
(31,677)
Net current assets
22,288 
10,181 
Total assets less current liabilities
27,913 
15,192 
Provisions for liabilities
Deferred tax
(1,069)
(952)
Net assets
26,844 
14,240 
Capital and reserves
Called up share capital
300 
300 
Profit and loss account
26,544 
13,940 
Shareholders' funds
26,844 
14,240 
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by
Mr D Millar Director Company Registration No. 10706747
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MRM Design Studio Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
MRM Design Studio Ltd is a private company, limited by shares, registered in England and Wales, registration number 10706747. The registered office is The Generator Quay House, Kings Wharf, Exeter, EX2 4AN.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Fixtures & fittings
30% Reducing Balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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MRM Design Studio Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2022
14,365 
Additions
3,828 
Disposals
(2,615)
At 31 March 2023
15,578 
Depreciation
At 1 April 2022
9,354 
Charge for the year
2,411 
On disposals
(1,812)
At 31 March 2023
9,953 
Net book value
At 31 March 2023
5,625 
At 31 March 2022
5,011 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,922 
9,774 
Accrued income and prepayments
1,445 
1,771 
28,367 
11,545 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
9,611 
6,990 
Trade creditors
37 
3,255 
Taxes and social security
16,303 
13,455 
Loans from directors
12,166 
7,810 
Accruals
4,253 
167 
42,370 
31,677 
7
Transactions with related parties
Included within creditors is an amount of £12,166 (2022 £7,810) which is owed by the Company to the Directors. Interest is payable on this amount at 7.50% per annum (2022: 0.0%) and there is no fixed date for repayment.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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