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REGISTERED NUMBER: 02311887 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

MLR NETWORKS LTD

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MLR NETWORKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: J D Wilkie
I Morris
P Morris





SECRETARY: P Morris





REGISTERED OFFICE: Unit 9, Beeston Court
Stuart Road
Manor Park
Runcorn
Cheshire
WA7 1SS





REGISTERED NUMBER: 02311887 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

BALANCE SHEET
31ST JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 456,071 429,726

CURRENT ASSETS
Stocks 71,148 437,396
Debtors 5 2,266,010 1,415,138
Cash at bank and in hand 396,005 345,839
2,733,163 2,198,373
CREDITORS
Amounts falling due within one year 6 1,983,777 1,481,003
NET CURRENT ASSETS 749,386 717,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,205,457

1,147,096

CREDITORS
Amounts falling due after more than one
year

7

(90,211

)

(85,205

)

PROVISIONS FOR LIABILITIES (50,339 ) (33,396 )
NET ASSETS 1,064,907 1,028,495

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium account 611,835 611,835
Retained earnings 452,072 415,660
1,064,907 1,028,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

BALANCE SHEET - continued
31ST JANUARY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 4th July 2024 and were signed on its behalf by:




I Morris - Director



J D Wilkie - Director


MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

MLR Networks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 45 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st February 2023 359,696 63,617 14,150
Additions 8,459 4,931 895
At 31st January 2024 368,155 68,548 15,045
DEPRECIATION
At 1st February 2023 5,309 46,566 9,280
Charge for year 7,291 4,895 1,724
At 31st January 2024 12,600 51,461 11,004
NET BOOK VALUE
At 31st January 2024 355,555 17,087 4,041
At 31st January 2023 354,387 17,051 4,870

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2023 54,890 40,420 532,773
Additions 50,970 2,458 67,713
At 31st January 2024 105,860 42,878 600,486
DEPRECIATION
At 1st February 2023 30,946 10,946 103,047
Charge for year 18,344 9,114 41,368
At 31st January 2024 49,290 20,060 144,415
NET BOOK VALUE
At 31st January 2024 56,570 22,818 456,071
At 31st January 2023 23,944 29,474 429,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st February 2023 47,890
Additions 50,970
At 31st January 2024 98,860
DEPRECIATION
At 1st February 2023 23,946
Charge for year 18,344
At 31st January 2024 42,290
NET BOOK VALUE
At 31st January 2024 56,570
At 31st January 2023 23,944

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,513,647 1,106,033
Amounts owed by group undertakings 300,886 62
Other debtors 451,477 309,043
2,266,010 1,415,138

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 24,000 24,000
Hire purchase contracts (see note 8) 14,264 8,017
Trade creditors 816,329 559,554
Taxation and social security 251,322 162,669
Other creditors 877,862 726,763
1,983,777 1,481,003

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 35,000 59,000
Hire purchase contracts (see note 8) 55,211 26,205
90,211 85,205

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 14,264 8,017
Between one and five years 55,211 26,205
69,475 34,222

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 14,698 647
Between one and five years 283,285 183,136
In more than five years - 105,583
297,983 289,366

MLR NETWORKS LTD (REGISTERED NUMBER: 02311887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 69,475 34,222

Hire purchase contracts are secured on the assets to which they relate.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2024 and 31st January 2023:

31.1.24 31.1.23
£    £   
I Morris
Balance outstanding at start of year 40 (10,159 )
Amounts advanced 194,536 83,058
Amounts repaid (195,500 ) (72,859 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (924 ) 40

S B Wood
Balance outstanding at start of year - (31,731 )
Amounts advanced - 33,165
Amounts repaid - (1,434 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

J D Wilkie
Balance outstanding at start of year 97,060 -
Amounts advanced 143,470 169,918
Amounts repaid (139,500 ) (72,858 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 101,030 97,060

Directors' loan are unsecured, interest free and repayable on demand.