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REGISTERED NUMBER: 04265670 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH AUGUST 2022

FOR

M & P TESTING LIMITED

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH AUGUST 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M & P TESTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH AUGUST 2022







DIRECTORS: M D King
Mrs M King





REGISTERED OFFICE: Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA





REGISTERED NUMBER: 04265670 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

STATEMENT OF FINANCIAL POSITION
30TH AUGUST 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,225 4,301
Investments 6 46,000 30,462
49,225 34,763

CURRENT ASSETS
Debtors 7 2,364 893
Prepayments and accrued income 3,454 3,454
Cash at bank - 336
5,818 4,683
CREDITORS
Amounts falling due within one year 8 55,915 38,031
NET CURRENT LIABILITIES (50,097 ) (33,348 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(872

)

1,415

PROVISIONS FOR LIABILITIES (613 ) (817 )

ACCRUALS AND DEFERRED INCOME (1,575 ) (2,070 )
NET LIABILITIES (3,060 ) (1,472 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (3,070 ) (1,482 )
SHAREHOLDERS' FUNDS (3,060 ) (1,472 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

STATEMENT OF FINANCIAL POSITION - continued
30TH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd November 2023 and were signed on its behalf by:




M D King - Director



Mrs M King - Director


M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH AUGUST 2022

1. STATUTORY INFORMATION

M & P Testing Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04265670 and the registered office is Newport House, Newport Road, Stafford, Staffordshire, ST16 1DA.

The principal activity of the company is that of MOT tests.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Functional currency
The financial statements are prepared in sterling. The functional currency of the company is sterling.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH AUGUST 2022

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Investments
Other investments are recognised initially at fair value. Subsequently, they are measured at fair value through profit or loss with any gain or loss being transferred to a fair value reserve where their value can be measured reliably.

Where a gain is realised upon sale of the investments, a transfer from the non-distributable fair value reserve is made to retained earnings

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH AUGUST 2022

3. ACCOUNTING POLICIES - continued

Impairment of non- financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Government grants
Government grants, which include amounts received under the Coronavirus Job Retention Scheme and from local authority grants, are recognised at the fair value of the grant received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. The income is recognised in other income on a systematic basis over the periods in which the associated costs are incurred, using the accrual model or in the period in which the grant becomes receivable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 31st August 2021
and 30th August 2022 30,133 821 8,100 39,054
DEPRECIATION
At 31st August 2021 26,966 821 6,966 34,753
Charge for year 791 - 285 1,076
At 30th August 2022 27,757 821 7,251 35,829
NET BOOK VALUE
At 30th August 2022 2,376 - 849 3,225
At 30th August 2021 3,167 - 1,134 4,301

M & P TESTING LIMITED (REGISTERED NUMBER: 04265670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH AUGUST 2022

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 31st August 2021 30,462
Additions 7,500
Disposals (1,380 )
Revaluations 9,418
At 30th August 2022 46,000
NET BOOK VALUE
At 30th August 2022 46,000
At 30th August 2021 30,462

Cost or valuation at 30th August 2022 is represented by:

Other
investments
£   
Valuation in 2020 (400 )
Valuation in 2021 (36,638 )
Valuation in 2022 9,418
Cost 73,620
46,000

If the other investments had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 59,000 67,500

Other investments were valued on a best estimate basis on 31st August 2022 by the directors. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 2,364 893

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 7,770 -
Trade creditors - 323
Taxation and social security 6,446 11,630
Other creditors 41,699 26,078
55,915 38,031

9. OTHER FINANCIAL COMMITMENTS

At the year end the business had financial commitments of £16,267.80 (2021 £15,453.00)