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REGISTERED NUMBER: 11339505 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MR Safe Deck (Anglia) Limited

MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 2,237,653 1,612,788

Current assets
Debtors 5 1,296,286 1,572,043
Cash at bank 682,111 -
1,978,397 1,572,043
Creditors
Amounts falling due within one year 6 (1,849,491 ) (2,009,389 )
Net current assets/(liabilities) 128,906 (437,346 )
Total assets less current liabilities 2,366,559 1,175,442

Creditors
Amounts falling due after more than one
year

7

(54,130

)

(95,679

)

Provisions for liabilities (526,359 ) (370,542 )
Net assets 1,786,070 709,221

Capital and reserves
Called up share capital 1 1
Retained earnings 1,786,069 709,220
1,786,070 709,221

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

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

The director acknowledges his 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.

MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





Mr A P Regan - Director


MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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
Tangible fixed 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 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:

Improvements to property - 10% on cost
Plant and machinery - 7%/20%/33% on cost
Office equipment - 20% on cost
Motor vehicles - 25% on cost

MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. Accounting policies - continued

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. Accounting policies - continued
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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 13 (2023 - 11 ) .

MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. Tangible fixed assets
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 April 2023 2,189 1,869,947 1,955 235,964 2,110,055
Additions 26,930 315,264 - 543,135 885,329
Disposals - - - (5,000 ) (5,000 )
At 31 March 2024 29,119 2,185,211 1,955 774,099 2,990,384
Depreciation
At 1 April 2023 19 378,495 885 117,868 497,267
Charge for year 1,774 169,806 391 88,493 260,464
Eliminated on disposal - - - (5,000 ) (5,000 )
At 31 March 2024 1,793 548,301 1,276 201,361 752,731
Net book value
At 31 March 2024 27,326 1,636,910 679 572,738 2,237,653
At 31 March 2023 2,170 1,491,452 1,070 118,096 1,612,788

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1 April 2023 274,250 179,714 453,964
Additions - 52,365 52,365
Transfer to ownership - (55,000 ) (55,000 )
At 31 March 2024 274,250 177,079 451,329
Depreciation
At 1 April 2023 122,873 92,712 215,585
Charge for year 28,650 53,976 82,626
Transfer to ownership - (55,000 ) (55,000 )
At 31 March 2024 151,523 91,688 243,211
Net book value
At 31 March 2024 122,727 85,391 208,118
At 31 March 2023 151,377 87,002 238,379

MR Safe Deck (Anglia) Limited (Registered number: 11339505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,005,111 1,464,197
Amounts owed by group undertakings 216,204 -
Other debtors 74,971 107,846
1,296,286 1,572,043

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 138,387 69,550
Hire purchase contracts 92,873 107,666
Trade creditors 404,218 578,059
Amounts owed to group undertakings 215,242 249,633
Taxation and social security 379,686 9,113
Other creditors 619,085 995,368
1,849,491 2,009,389

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts 54,130 95,679

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 138,387 69,550
Hire purchase contracts 147,003 203,345
285,390 272,895

The bank overdraft facility is secured by a charge over the assets of the company, together with the assets of the parent company MR Holdings (Anglia) Limited. Balances under hire purchase agreements are secured on the assets acquired.

9. Related party disclosures

During the year, purchase invoices totalling £380,972 (2023: £420,160) were received from MR Scaffolding (Anglia) Limited, a company under the control of the directors. At 31 March 2024 a balance of £47,612 (2023: £38,423) was included in trade creditors.