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Company Registration No. 11283275 (England and Wales)
MXR WORKS LIMITED Unaudited accounts for the year ended 31 March 2024
MXR WORKS LIMITED Unaudited accounts Contents
Page
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MXR WORKS LIMITED Company Information for the year ended 31 March 2024
Directors
Matthew David Taylor Jake John Taylor Luke George Taylor
Company Number
11283275 (England and Wales)
Registered Office
MX RACING MAIN ROAD DONINGTON-ON-BAIN LOUTH LN11 9TJ ENGLAND
Accountants
Elliott Accountancy Services Ltd Rosemary Cottage Barkwith Road South Willingham Lincolnshire LN8 6NN
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MXR WORKS LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
309,857 
115,898 
Current assets
Inventories
- 
26,000 
Debtors
87 
638 
Cash at bank and in hand
53,502 
54,350 
53,589 
80,988 
Creditors: amounts falling due within one year
(22,148)
(27,006)
Net current assets
31,441 
53,982 
Total assets less current liabilities
341,298 
169,880 
Creditors: amounts falling due after more than one year
(137,223)
(151,835)
Net assets
204,075 
18,045 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
162,868 
- 
Profit and loss account
41,107 
17,945 
Shareholders' funds
204,075 
18,045 
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. 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 30 September 2024 and were signed on its behalf by
Matthew David Taylor Director Company Registration No. 11283275
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MXR WORKS LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
MXR WORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11283275. The registered office is MX RACING MAIN ROAD, DONINGTON-ON-BAIN, LOUTH, LN11 9TJ, ENGLAND.
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.
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
33% on cost
Motor vehicles
33% on cost
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At cost 
At 1 April 2023
87,132 
71,308 
6,300 
164,740 
Additions
- 
33,000 
- 
33,000 
Revaluations
162,868 
- 
- 
162,868 
At 31 March 2024
250,000 
104,308 
6,300 
360,608 
Depreciation
At 1 April 2023
- 
42,542 
6,300 
48,842 
Charge for the year
- 
1,909 
- 
1,909 
At 31 March 2024
- 
44,451 
6,300 
50,751 
Net book value
At 31 March 2024
250,000 
59,857 
- 
309,857 
At 31 March 2023
87,132 
28,766 
- 
115,898 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
87 
638 
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MXR WORKS LIMITED Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
797 
568 
Trade creditors
16,768 
22,643 
Taxes and social security
4,583 
3,795 
22,148 
27,006 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,179 
12,506 
Loans from directors
121,044 
139,329 
137,223 
151,835 
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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