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Registered Number: 11810331
England and Wales

 

 

 

M.R. AUTOTECH LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Matthew James ROBINSON
Registered Number 11810331
Registered Office 9 Corbets Tey Road
Upminster
Essex
RM14 2AP
Accountants VERSA TAX ASSOCIATES LTD
9 Corbets Tey Road,
Upminster
Essex
RM14 2AP
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024
Director
The director who served the company throughout the year was as follows:
Matthew James ROBINSON
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Matthew James ROBINSON
Director

Date approved: 05 July 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of M.R. Autotech Ltd for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M.R. Autotech Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of M.R. Autotech Ltd, as a body, in accordance with the terms of our engagement letter dated 05 July 2024 Our work has been undertaken solely to prepare for your approval the accounts of M.R. Autotech Ltd and state those matters that we have agreed to state to the Board of Directors of M.R. Autotech Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M.R. Autotech Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that M.R. Autotech Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of M.R. Autotech Ltd. You consider that M.R. Autotech Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of M.R. Autotech Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
29 February 2024



....................................................

VERSA TAX ASSOCIATES LTD

9 Corbets Tey Road,
Upminster
Essex
RM14 2AP
05 July 2024
3
 
 
Notes
 
2024
£
  2023
£
Turnover 38,597    47,980 
Cost of sales (13,633)   (18,741)
Gross profit 24,964    29,239 
Administrative expenses (23,668)   (17,964)
Operating profit 1,296    11,275 
Profit/(Loss) on ordinary activities before taxation 1,296    11,275 
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 1,296    11,275 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 6,000    6,000 
Tangible fixed assets 4 2,029    2,705 
8,029    8,705 
Current assets      
Cash at bank and in hand 1,062    4,166 
Creditors: amount falling due within one year 5 (16,943)   (22,019)
Net current assets (15,881)   (17,853)
 
Total assets less current liabilities (7,852)   (9,148)
Net assets (7,852)   (9,148)
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account (7,952)   (9,248)
Shareholders' funds (7,852)   (9,148)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 05 July 2024 and were signed by:


-------------------------------
Matthew James ROBINSON
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 March 2022 100  (20,523) (20,423)
Profit for the year 11,275  11,275 
Total comprehensive income for the year 11,275  11,275 
Total investments by and distributions to owners
At 28 February 2023 100  (9,248) (9,148)
At 01 March 2023 100  (9,248) (9,148)
Profit for the year 1,296  1,296 
Total comprehensive income for the year 1,296  1,296 
Total investments by and distributions to owners
At 29 February 2024 100  (7,952) (7,852)
6
General Information
M.R. Autotech Ltd is a private company, limited by shares, registered in England and Wales, registration number 11810331, registration address 9 Corbets Tey Road, Upminster, Essex, RM14 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 0 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
2.

Average number of employees

The average monthly number of persons employed by the company during the year was: Nil

Average number of employees during the year was 0 (2023 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 6,000    6,000 
Additions  
Disposals  
At 29 February 2024 6,000    6,000 
Net book values
At 29 February 2024 6,000    6,000 
At 28 February 2023 6,000    6,000 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2023 7,514    7,514 
Additions  
Disposals  
At 29 February 2024 7,514    7,514 
Depreciation
At 01 March 2023 4,809    4,809 
Charge for year 676    676 
On disposals  
At 29 February 2024 5,485    5,485 
Net book values
Closing balance as at 29 February 2024 2,029    2,029 
Opening balance as at 01 March 2023 2,705    2,705 


5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 100    100 
PAYE & Social Security 2,069    1,688 
Other Creditors  
Directors' Current Accounts 14,774    20,231 
16,943    22,019 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

7.

Director’s loan

Director Note

As at the year end, the Company owed £14,774 (2023: £20,232) to the Director in respect of Director loan to the company.

Director remuneration for the year was £12,570 (2023: £12,564).
7