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
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
MXR WORKS LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
309,857
115,898
Cash at bank and in hand
53,502
54,350
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)
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
MXR WORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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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
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
At 31 March 2024
250,000
59,857
-
309,857
At 31 March 2023
87,132
28,766
-
115,898
Amounts falling due within one year
MXR WORKS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
16,768
22,643
Taxes and social security
4,583
3,795
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
121,044
139,329
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Average number of employees
During the year the average number of employees was 4 (2023: 4).