ZMR Limited |
Registered number: |
03959703 |
Directors' Report |
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The directors present their report and accounts for the year ended 30 April 2024. |
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Principal activities |
The company's principal activity during the year continued to be the manufacture and supply of wood veneered products to the building industry. |
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Directors |
The following persons served as directors during the year: |
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MT Finney - Resigned 12/06/2023 |
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PJ McGuire - Resigned 9/8/2024 |
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JJ Vann - Resigned 15/5/2024 |
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MA Finney - Appointed 12/06/2023 |
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DT Finney - Appointed 12/06/2023 |
The following persons have been appointed as directors since the year end |
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T P McGuire - Appointed 9/8/2024 |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 29 January 2025 and signed on its behalf. |
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M A Finney |
Director |
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ZMR Limited |
Registered number: |
03959703 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
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|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
528,526 |
|
|
542,502 |
|
Current assets |
Stocks |
|
|
359,660 |
|
|
364,691 |
Debtors |
4 |
|
1,511,545 |
|
|
1,144,400 |
Cash at bank and in hand |
|
|
430,537 |
|
|
903,867 |
|
|
|
2,301,742 |
|
|
2,412,958 |
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Creditors: amounts falling due within one year |
5 |
|
(1,561,582) |
|
|
(1,695,808) |
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Net current assets |
|
|
|
740,160 |
|
|
717,150 |
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Total assets less current liabilities |
|
|
|
1,268,686 |
|
|
1,259,652 |
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Creditors: amounts falling due after more than one year |
6 |
|
|
(104,957) |
|
|
(104,957) |
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Provisions for liabilities |
|
|
|
(56,081) |
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(58,232) |
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Net assets |
|
|
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1,107,648 |
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1,096,463 |
|
|
|
|
|
|
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Capital and reserves |
Called up share capital |
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|
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56,000 |
|
|
56,000 |
Capital redemption reserve |
|
|
|
14,000 |
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|
14,000 |
Profit and loss account |
|
|
|
1,037,648 |
|
|
1,026,463 |
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Shareholders' funds |
|
|
|
1,107,648 |
|
|
1,096,463 |
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|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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D T Finney |
Director |
Approved by the board on 29 January 2025 |
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ZMR Limited |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Going concern |
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The directors have carefully considered the impact of the current economic climate on the company's financial position, liquidity and future performance. The company has continued to trade strongly despite the ecomomic uncertainty and the directors are confident that sales and profitability will be maintained. Therefore the directors believe that the company is well placed to manage its business risks successfully. Accordingly they have 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. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods which is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Leasehold improvements |
over 10 years |
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Plant and machinery |
25% to 33% straight line |
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Motor vehicles |
25% straight line |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
|
2023 |
Number |
Number |
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Average number of persons employed by the company |
38 |
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42 |
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3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
|
Cost |
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At 1 May 2023 |
411,535 |
|
1,791,239 |
|
53,353 |
|
2,256,127 |
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Additions |
- |
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85,854 |
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- |
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85,854 |
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Disposals |
- |
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- |
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(9,087) |
|
(9,087) |
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At 30 April 2024 |
411,535 |
|
1,877,093 |
|
44,266 |
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2,332,894 |
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|
|
|
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Depreciation |
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At 1 May 2023 |
120,540 |
|
1,547,316 |
|
45,769 |
|
1,713,625 |
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Charge for the year |
- |
|
95,717 |
|
4,113 |
|
99,830 |
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On disposals |
- |
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- |
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(9,087) |
|
(9,087) |
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At 30 April 2024 |
120,540 |
|
1,643,033 |
|
40,795 |
|
1,804,368 |
|
|
|
|
|
|
|
|
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Net book value |
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At 30 April 2024 |
290,995 |
|
234,060 |
|
3,471 |
|
528,526 |
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At 30 April 2023 |
290,995 |
|
243,923 |
|
7,584 |
|
542,502 |
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4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
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Trade debtors |
1,290,600 |
|
903,108 |
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Other debtors |
220,945 |
|
241,292 |
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|
|
|
|
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1,511,545 |
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1,144,400 |
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|
|
|
|
|
|
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5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
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Trade creditors |
834,717 |
|
513,608 |
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Taxation and social security costs |
161,279 |
|
184,471 |
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Other creditors |
565,586 |
|
997,729 |
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|
|
|
|
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1,561,582 |
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1,695,808 |
|
|
|
|
|
|
|
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6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
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Other creditors |
104,957 |
|
104,957 |
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|
|
|
|
|
|
|
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7 |
Capital commitments |
2024 |
|
2023 |
£ |
£ |
|
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Amounts contracted for but not provided in the accounts |
- |
|
50,400 |
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8 |
Related party transactions |
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The following companies are related parties as they are controlled by the directors by virtue of their own or immediate family members' ahareholdingsin each company. |
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MBP Directors Pension Scheme is the landlord of the premises occupied by the company, the pension scheme beneficiaries are M T Finney, P J MCGuire, K F Crane and J J Vann. The annual rent at market value is £100,000 |
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Sales |
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Purchases |
|
|
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& services |
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Debtor |
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Creditor |
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Year 2024 |
£ |
|
£ |
|
£ |
|
£ |
|
Midland Building Products Ltd |
2,959,598 |
|
625,031 |
|
570,836 |
|
183,965 |
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Manchester Doors & Cubicles Ltd |
710,513 |
|
- |
|
135,410 |
|
- |
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Specialist Joinery Products Ltd |
270,103 |
|
- |
|
81,798 |
|
- |
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Southern Doors & Cubicles Ltd |
347,861 |
|
- |
|
59,426 |
|
- |
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UK Doorsets Ltd |
1,212,210 |
|
7,860 |
|
356,281 |
|
- |
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Joinery Specialists Ltd |
330,181 |
|
- |
|
27,387 |
|
- |
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Leeds Doors & Cubicles Ltd |
328,445 |
|
- |
|
54,428 |
|
- |
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Fire & Acoustic Seals Ltd |
1,048 |
|
15 |
|
- |
|
18 |
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Doorkit Solutions Ltd |
16,811 |
|
- |
|
- |
|
- |
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IBS Building Products Ltd |
3,673 |
|
- |
|
1,135 |
|
- |
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FSC Doors Ltd |
- |
|
196,323 |
|
- |
|
54,002 |
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Fire Core Solutions Ltd |
- |
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496,675 |
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|
106,576 |
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MBP Directors Pension Scheme |
- |
|
100,000 |
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- |
|
20,000 |
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Year 2023 |
£ |
|
£ |
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£ |
|
£ |
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Midland Building Products Ltd |
3,247,632 |
|
630,595 |
|
119,185 |
|
175,107 |
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Manchester Doors & Cubicles Ltd |
805,242 |
|
- |
|
217,750 |
|
- |
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Specialist Joinery Products Ltd |
191,856 |
|
- |
|
95,134 |
|
- |
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Southern Doors & Cubicles Ltd |
427,969 |
|
- |
|
69,259 |
|
- |
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UK Doorsets Ltd |
1,313,001 |
|
2,774 |
|
261,933 |
|
- |
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Joinery Specialists Ltd |
354,042 |
|
- |
|
87,920 |
|
- |
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Leeds Doors & Cubicles Ltd |
313,138 |
|
- |
|
38,567 |
|
- |
|
Fire & Acoustic Seals Ltd |
3,724 |
|
290 |
|
- |
|
18 |
|
Doorkit Solutions Ltd |
5,921 |
|
- |
|
- |
|
- |
|
|
12,351 |
|
- |
|
4,243 |
|
- |
|
|
- |
|
105,053 |
|
- |
|
105,053 |
|
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MBP Directors Pension Scheme |
- |
|
100,000 |
|
- |
|
20,000 |
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9 |
Controlling party |
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The directors, together with members of their close family, control the company by virtue of owning 100% of the issued ordinary share capital. |
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|
10 |
Other information |
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ZMR Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Unit 10 Spartan Industrial Centre |
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Brickhouse Lane |
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West Bromwich |
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West Midlands |
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B70 0DH |