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Company Registration No. 10252526 (England and Wales)
Mr Prep Ltd Unaudited accounts for the year ended 30 June 2023
Mr Prep Ltd Unaudited accounts Contents
Page
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Mr Prep Ltd Company Information for the year ended 30 June 2023
Directors
Iram Nazir Omaad Nazir Mohammed Jawaad Nazir
Company Number
10252526 (England and Wales)
Registered Office
Unit 4 Dunlop Road Hunt End Industrial Estate Redditch B97 5XP United Kingdom
Accountants
AC Counts & Services Ltd Office 42 Imex Business Centre, Oxleasow Road Redditch Worcestershire B98 0RE
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Mr Prep Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,909 
11,867 
Current assets
Inventories
2,296 
2,916 
Debtors
7,634 
19,876 
Cash at bank and in hand
18,946 
10,408 
28,876 
33,200 
Creditors: amounts falling due within one year
(24,374)
(19,866)
Net current assets
4,502 
13,334 
Total assets less current liabilities
12,411 
25,201 
Creditors: amounts falling due after more than one year
(39,724)
(44,724)
Net liabilities
(27,313)
(19,523)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
(27,316)
(19,526)
Shareholders' funds
(27,313)
(19,523)
For the year ending 30 June 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 26 June 2024 and were signed on its behalf by
Mohammed Jawaad Nazir Director Company Registration No. 10252526
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Mr Prep Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Mr Prep Ltd is a private company, limited by shares, registered in England and Wales, registration number 10252526. The registered office is Unit 4 Dunlop Road, Hunt End Industrial Estate, Redditch, B97 5XP, United Kingdom.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Going Concern
The financial statements have been prepared on a going concern basis. This assumes the continued support of the director. The directors have indicated their support will continue for the foreseeable future.
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:
Plant & machinery
20% Straight Line Method
Computer equipment
20% Straight Line Method
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Mr Prep Ltd Notes to the Accounts for the year ended 30 June 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2022
10,400 
At 30 June 2023
10,400 
Amortisation
At 1 July 2022
10,400 
At 30 June 2023
10,400 
Net book value
At 30 June 2023
- 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
16,743 
3,040 
19,783 
At 30 June 2023
16,743 
3,040 
19,783 
Depreciation
At 1 July 2022
6,700 
1,216 
7,916 
Charge for the year
3,350 
608 
3,958 
At 30 June 2023
10,050 
1,824 
11,874 
Net book value
At 30 June 2023
6,693 
1,216 
7,909 
At 30 June 2022
10,043 
1,824 
11,867 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
3,476 
Deferred tax asset
3,224 
6,447 
Accrued income and prepayments
- 
5,542 
3,224 
15,465 
Amounts falling due after more than one year
Accrued income and prepayments
4,407 
4,408 
Other debtors
3 
3 
4,410 
4,411 
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Mr Prep Ltd Notes to the Accounts for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,035 
5,928 
VAT
2,402 
2,108 
Trade creditors
3,107 
- 
Loans from directors
11,830 
11,830 
24,374 
19,866 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
39,724 
44,724 
9
Average number of employees
During the year the average number of employees was 1 (2022: 4).
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