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REGISTERED NUMBER: 10878112 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

MPL LOCKSMITHS (TRAINING) LTD

MPL LOCKSMITHS (TRAINING) LTD (REGISTERED NUMBER: 10878112)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MPL LOCKSMITHS (TRAINING) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: G H Jones





REGISTERED OFFICE: 1 Thornes Office Park
Monckton Road
Wakefield
WF2 9RG





REGISTERED NUMBER: 10878112 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD

MPL LOCKSMITHS (TRAINING) LTD (REGISTERED NUMBER: 10878112)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 74
Tangible assets 5 4,539 2,578
4,539 2,652

CURRENT ASSETS
Stocks 11,660 10,696
Debtors 6 145,544 50,993
Cash at bank 19,122 74,532
176,326 136,221
CREDITORS
Amounts falling due within one year 7 82,539 46,734
NET CURRENT ASSETS 93,787 89,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,326

92,139

PROVISIONS FOR LIABILITIES 862 490
NET ASSETS 97,464 91,649

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 97,364 91,549
SHAREHOLDERS' FUNDS 97,464 91,649

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

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

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 15th February 2024 and were signed by:




G H Jones - Director


MPL LOCKSMITHS (TRAINING) LTD (REGISTERED NUMBER: 10878112)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

MPL Locksmiths (Training) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five 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 over 5 years

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.

MPL LOCKSMITHS (TRAINING) LTD (REGISTERED NUMBER: 10878112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 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 6 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 2,800
AMORTISATION
At 1st August 2022 2,726
Charge for year 74
At 31st July 2023 2,800
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 74

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 21,228
Additions 2,502
At 31st July 2023 23,730
DEPRECIATION
At 1st August 2022 18,650
Charge for year 541
At 31st July 2023 19,191
NET BOOK VALUE
At 31st July 2023 4,539
At 31st July 2022 2,578

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,457 3,510
Other debtors 129,087 47,483
145,544 50,993

MPL LOCKSMITHS (TRAINING) LTD (REGISTERED NUMBER: 10878112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,005 8,531
Taxation and social security 21,291 27,843
Other creditors 33,243 10,360
82,539 46,734

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
G H Jones
Balance outstanding at start of year 39,399 47,567
Amounts advanced 104,598 61,832
Amounts repaid (55,000 ) (70,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 88,997 39,399

9. RELATED PARTY DISCLOSURES

During the year the company paid dividends on the A shares of £25,000 (2022 £70,000) to a director of the company.