Registered number
13309309
MPRF LIMITED
Filleted Accounts
31 May 2023
MPRF LIMITED
Registered number: 13309309
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 64,000 72,000
Current assets
Stocks 31,323 32,019
Cash at bank and in hand 26,424 49,653
57,747 81,672
Creditors: amounts falling due within one year 4 (20,020) (29,057)
Net current assets 37,727 52,615
Net assets 101,727 124,615
Capital and reserves
Called up share capital 1,000 1,000
Share premium 89,000 89,000
Profit and loss account 11,727 34,615
Shareholders' funds 101,727 124,615
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M. Fairhurst
Director
Approved by the board on 21 October 2023
MPRF LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 80,000
At 31 May 2023 80,000
Amortisation
At 1 June 2022 8,000
Provided during the year 8,000
At 31 May 2023 16,000
Net book value
At 31 May 2023 64,000
At 31 May 2022 72,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors loan account 11,085 14,079
Corporation tax 4,787 10,465
Other taxes and social security costs 2,219 2,069
Value Added Tax 1,929 2,444
20,020 29,057
5 Other information
MPRF LIMITED is a private company limited by shares and incorporated in England.
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