5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 86,361 10,795 75,566 75,566 86,361 xbrli:pure xbrli:shares iso4217:GBP 01154636 2023-01-01 2023-12-31 01154636 2023-12-31 01154636 2022-12-31 01154636 2022-01-01 2022-12-31 01154636 2022-12-31 01154636 2021-12-31 01154636 core:FurnitureFittings 2023-01-01 2023-12-31 01154636 bus:RegisteredOffice 2023-01-01 2023-12-31 01154636 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 01154636 bus:Director1 2023-01-01 2023-12-31 01154636 bus:Director3 2023-01-01 2023-12-31 01154636 core:FurnitureFittings 2022-12-31 01154636 core:FurnitureFittings 2023-12-31 01154636 core:WithinOneYear 2023-12-31 01154636 core:WithinOneYear 2022-12-31 01154636 core:ShareCapital 2023-12-31 01154636 core:ShareCapital 2022-12-31 01154636 core:RetainedEarningsAccumulatedLosses 2023-12-31 01154636 core:RetainedEarningsAccumulatedLosses 2022-12-31 01154636 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 01154636 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 01154636 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 01154636 core:Non-currentFinancialInstruments 2023-12-31 01154636 core:Non-currentFinancialInstruments 2022-12-31 01154636 core:FurnitureFittings 2022-12-31 01154636 bus:SmallEntities 2023-01-01 2023-12-31 01154636 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01154636 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01154636 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01154636 bus:FullAccounts 2023-01-01 2023-12-31 01154636 core:OfficeEquipment 2023-01-01 2023-12-31 01154636 core:OfficeEquipment 2022-12-31 01154636 core:OfficeEquipment 2023-12-31 01154636 1 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 01154636
MAMPRO LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
MAMPRO LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
MAMPRO LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
A N Richardson
K L Richardson
Registered office
Marine House
High Street
Waddington
Lincoln
Lincolnshire
LN5 9RF
Accountants
Streets LLP
Chartered Accountants
Tower House
Lucy Tower Street
Lincoln
Lincolnshire
LN1 1XW
MAMPRO LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
9,613
10,257
Investments
6
75,566
86,361
---------
---------
85,179
96,618
Current assets
Debtors
7
427,122
186,204
Cash at bank and in hand
401,547
559,745
-----------
-----------
828,669
745,949
Creditors: amounts falling due within one year
8
396,357
307,732
-----------
-----------
Net current assets
432,312
438,217
-----------
-----------
Total assets less current liabilities
517,491
534,835
Provisions
Taxation including deferred tax
1,826
1,880
-----------
-----------
Net assets
515,665
532,955
-----------
-----------
MAMPRO LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
513,665
530,955
-----------
-----------
Shareholders funds
515,665
532,955
-----------
-----------
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 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
A N Richardson
Director
Company registration number: 01154636
MAMPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Marine House, High Street, Waddington, Lincoln, Lincolnshire, LN5 9RF.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The directors make estimates and assumptions about the future. These estimates and assumptions impact recognised assets and liabilities, as well as revenue and expenses and other disclosures. These estimates are based on historical experience and on various assumptions considered reasonable under the prevailing conditions. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The estimates and assumptions that may have a significant effect on the carrying amounts of assets and liabilities within financial year include: Tangible fixed assets are recognised at cost or valuation, less accumulated depreciation and any impairments. Depreciation takes place over the estimated useful life, down to the assessed residual value. The carrying amount of the company's fixed assets is tested as soon as changed conditions show that a need for impairment has arisen. The carrying value of stock and associated provisioning is considered on a regular basis. When calculating the stock provision, the directors consider the age and turnover of stock items. The recoverability of trade debtors and associated provisioning is considered on a regular basis. When calculating the debtor provision, the directors consider the age of the debts and the financial position of its customers.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer. Turnover attributable to geographical markets outside the UK amounted to 96% for the year (2022 - 96%).
Income tax
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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:
Fixtures and fittings
-
33% straight line
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023
12,794
98,446
111,240
Additions
3,255
3,255
Disposals
( 10,541)
( 2,052)
( 12,593)
---------
---------
-----------
At 31 December 2023
2,253
99,649
101,902
---------
---------
-----------
Depreciation
At 1 January 2023
11,842
89,141
100,983
Charge for the year
698
2,156
2,854
Disposals
( 10,541)
( 1,007)
( 11,548)
---------
---------
-----------
At 31 December 2023
1,999
90,290
92,289
---------
---------
-----------
Carrying amount
At 31 December 2023
254
9,359
9,613
---------
---------
-----------
At 31 December 2022
952
9,305
10,257
---------
---------
-----------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023
86,361
Revaluations
( 10,795)
---------
At 31 December 2023
75,566
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
75,566
---------
At 31 December 2022
86,361
---------
7. Debtors
2023
2022
£
£
Trade debtors
198,296
114,865
Other debtors
228,826
71,339
-----------
-----------
427,122
186,204
-----------
-----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
289,365
186,452
Corporation tax
6,212
9,240
Social security and other taxes
449
513
Other creditors
100,331
111,527
-----------
-----------
396,357
307,732
-----------
-----------
9. Related party transactions
A N Richardson , sole director and shareholder in Mampro Limited, is also the sole director and shareholder in Resilienti (Rossington) Limited and Kat-Oli Limited. These companies are registered in England and Wales, numbers 07903968 and 08260860. At the beginning of the period the company was owed £8,594 from Resilienti (Rossington) Limited. Interest is charged on this balance at 2.5% per annum. The balance was paid off in March 2023. During the year the company loaned £175,000 to Resilienti (Rossington) Limited. Interest is charged on this balance at 2% per annum. The balance still outstanding as at the period end is £161,061. The term of this loan is 5 years and will conclude in July 2028. At the beginning of the period the company was owed £60,000 from Kat-Oli Limited. There is no interest charged on this balance. The balance still outstanding as at the period end is £60,000. No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
10. Controlling party
The company was under the control of the directors throughout the current year.