Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-01falseNo description of principal activity189falsetruefalse 06014149 2022-12-01 2023-11-30 06014149 2021-12-01 2022-11-30 06014149 2023-11-30 06014149 2022-11-30 06014149 c:Director1 2022-12-01 2023-11-30 06014149 d:FurnitureFittings 2022-12-01 2023-11-30 06014149 d:FurnitureFittings 2023-11-30 06014149 d:FurnitureFittings 2022-11-30 06014149 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06014149 d:ComputerEquipment 2022-12-01 2023-11-30 06014149 d:ComputerEquipment 2023-11-30 06014149 d:ComputerEquipment 2022-11-30 06014149 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06014149 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 06014149 d:CurrentFinancialInstruments 2023-11-30 06014149 d:CurrentFinancialInstruments 2022-11-30 06014149 d:Non-currentFinancialInstruments 2023-11-30 06014149 d:Non-currentFinancialInstruments 2022-11-30 06014149 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 06014149 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 06014149 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 06014149 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 06014149 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 06014149 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 06014149 d:ShareCapital 2023-11-30 06014149 d:ShareCapital 2022-11-30 06014149 d:RetainedEarningsAccumulatedLosses 2023-11-30 06014149 d:RetainedEarningsAccumulatedLosses 2022-11-30 06014149 c:FRS102 2022-12-01 2023-11-30 06014149 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06014149 c:FullAccounts 2022-12-01 2023-11-30 06014149 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06014149 2 2022-12-01 2023-11-30 06014149 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 06014149









MRP TECHNOLOGY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MRP TECHNOLOGY LIMITED
REGISTERED NUMBER: 06014149

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
15,832
14,690

  
15,832
14,690

Current assets
  

Debtors: amounts falling due within one year
 5 
7,082,420
4,448,139

Cash at bank and in hand
 6 
185,251
58,662

  
7,267,671
4,506,801

Creditors: amounts falling due within one year
 7 
(3,857,939)
(2,185,350)

Net current assets
  
 
 
3,409,732
 
 
2,321,451

Total assets less current liabilities
  
3,425,564
2,336,141

Creditors: amounts falling due after more than one year
 8 
(14,250)
(22,390)

  

Net assets
  
3,411,314
2,313,751


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,411,214
2,313,651

  
3,411,314
2,313,751


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 August 2024.

Page 1

 
MRP TECHNOLOGY LIMITED
REGISTERED NUMBER: 06014149
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023




A Perring
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

MRP Technology Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 06014149. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight-line method
Computer equipment
-
25%
straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 9).

Page 7

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
44,992
22,601
67,593


Additions
929
5,938
6,867



At 30 November 2023

45,921
28,539
74,460



Depreciation


At 1 December 2022
42,259
10,645
52,904


Charge for the year on owned assets
2,264
3,460
5,724



At 30 November 2023

44,523
14,105
58,628



Net book value



At 30 November 2023
1,398
14,434
15,832



At 30 November 2022
2,733
11,957
14,690

Page 8

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
4,408,094
2,545,433

Other debtors
878,369
374,850

Prepayments and accrued income
1,795,957
1,527,856

7,082,420
4,448,139



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
185,251
58,662

185,251
58,662



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,750
11,000

Trade creditors
609,730
331,259

Corporation tax
106,714
346,863

Other taxation and social security
465,418
121,038

Other creditors
1,586,611
495,663

Accruals and deferred income
1,078,716
879,527

3,857,939
2,185,350



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
14,250
22,390

14,250
22,390


Page 9

 
MRP TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,750
11,000


10,750
11,000

Amounts falling due 1-2 years

Other loans
14,250
22,390


14,250
22,390



25,000
33,390



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £6,929 (2022 - £5,710). Contributions totalling £1,733 (2022 - £1,557) were payable to the fund at the balance sheet date and are iincluded in creditors.


11.


Related party transactions

At the year-end the following amounts were due from/(to) the related parties:


2023
2022
£
£

Key management personnel
418,898
363,542
418,898
363,542


12.


Controlling party

The company is controlled by the directors by their virtue of its shareholding in the company.

 
Page 10