1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 308,614 368,250 99,250 577,614 125,380 120,219 28,533 217,066 360,548 183,234 xbrli:pure xbrli:shares iso4217:GBP 11191856 2023-04-01 2024-03-31 11191856 2024-03-31 11191856 2023-03-31 11191856 2022-04-01 2023-03-31 11191856 2023-03-31 11191856 2022-03-31 11191856 bus:Director2 2023-04-01 2024-03-31 11191856 core:WithinOneYear 2024-03-31 11191856 core:WithinOneYear 2023-03-31 11191856 core:AfterOneYear 2024-03-31 11191856 core:AfterOneYear 2023-03-31 11191856 core:ShareCapital 2024-03-31 11191856 core:ShareCapital 2023-03-31 11191856 core:RetainedEarningsAccumulatedLosses 2024-03-31 11191856 core:RetainedEarningsAccumulatedLosses 2023-03-31 11191856 bus:SmallEntities 2023-04-01 2024-03-31 11191856 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11191856 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11191856 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11191856 bus:FullAccounts 2023-04-01 2024-03-31 11191856 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11191856 core:OtherPropertyPlantEquipment 2023-03-31 11191856 core:OtherPropertyPlantEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 11191856
MLR Trailers Limited
Filleted Unaudited Financial Statements
31 March 2024
MLR Trailers Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
360,548
183,234
Current assets
Debtors
6
64,260
46,307
Cash at bank and in hand
185,895
184,823
---------
---------
250,155
231,130
Creditors: amounts falling due within one year
7
85,208
34,363
---------
---------
Net current assets
164,947
196,767
---------
---------
Total assets less current liabilities
525,495
380,001
Creditors: amounts falling due after more than one year
8
81,124
46,673
Provisions
68,504
34,814
---------
---------
Net assets
375,867
298,514
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
375,767
298,414
---------
---------
Shareholders funds
375,867
298,514
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MLR Trailers Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr G N Roberts
Director
Company registration number: 11191856
MLR Trailers Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whittle Close, Engineer Park, Sandycroft, Deeside, CH5 2QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
The directors carried out their company duties for no remuneration.
5. Tangible assets
Equipment
£
Cost
At 1 April 2023
308,614
Additions
368,250
Disposals
( 99,250)
---------
At 31 March 2024
577,614
---------
Depreciation
At 1 April 2023
125,380
Charge for the year
120,219
Disposals
( 28,533)
---------
At 31 March 2024
217,066
---------
Carrying amount
At 31 March 2024
360,548
---------
At 31 March 2023
183,234
---------
6. Debtors
2024
2023
£
£
Trade debtors
64,225
44,646
Other debtors
35
1,661
--------
--------
64,260
46,307
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,015
Social security and other taxes
3,909
2,283
Other creditors
71,284
32,080
--------
--------
85,208
34,363
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
81,124
46,673
--------
--------