Registered number
03959703
ZMR Limited
Report and Accounts
30 April 2024
ZMR Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
ZMR Limited
Company Information
Directors
MT Finney - Resigned 12/06/2023
PJ McGuire - Resigned 9/8/2024
JJ Vann - Resigned 15/5/2024
MA Finney - Appointed 12/06/2023
DT Finney - Appointed 12/06/2023
T P McGuire - Appointed 9/8/2024
Secretary
J W Vann
Bankers
NatWest
High Street
West Bromwich
West Midlands
Registered number
03959703
ZMR Limited
Registered number: 03959703
Directors' Report
The directors present their report and accounts for the year ended 30 April 2024.
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.
Directors
The following persons served as directors during the year:
MT Finney - Resigned 12/06/2023
PJ McGuire - Resigned 9/8/2024
JJ Vann - Resigned 15/5/2024
MA Finney - Appointed 12/06/2023
DT Finney - Appointed 12/06/2023
The following persons have been appointed as directors since the year end
T P McGuire - Appointed 9/8/2024
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.
This report was approved by the board on 29 January 2025 and signed on its behalf.
M A Finney
Director
ZMR Limited
Profit and Loss Account
for the year ended 30 April 2024
2024 2023
£ £
Turnover 6,193,095 6,645,459
Cost of sales (4,354,626) (4,377,496)
Gross profit 1,838,469 2,267,963
Distribution costs (5,073) (4,903)
Administrative expenses (1,654,431) (1,526,335)
Operating profit 178,965 736,725
Profit on the disposal of tangible fixed assets 2,475 -
Profit before taxation 181,440 736,725
Tax on profit (46,255) (146,073)
Profit for the financial year 135,185 590,652
ZMR Limited
Registered number: 03959703
Balance Sheet
as at 30 April 2024
Notes 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
Creditors: amounts falling due within one year 5 (1,561,582) (1,695,808)
Net current assets 740,160 717,150
Total assets less current liabilities 1,268,686 1,259,652
Creditors: amounts falling due after more than one year 6 (104,957) (104,957)
Provisions for liabilities (56,081) (58,232)
Net assets 1,107,648 1,096,463
Capital and reserves
Called up share capital 56,000 56,000
Capital redemption reserve 14,000 14,000
Profit and loss account 1,037,648 1,026,463
Shareholders' funds 1,107,648 1,096,463
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.
D T Finney
Director
Approved by the board on 29 January 2025
ZMR Limited
Statement of Changes in Equity
for the year ended 30 April 2024
Share Capital Profit Total
capital redemption and loss
reserve account
£ £ £ £
At 1 May 2022 56,000 14,000 535,811 605,811
Profit for the financial year 590,652 590,652
Dividends (100,000) (100,000)
At 30 April 2023 56,000 14,000 1,026,463 1,096,463
At 1 May 2023 56,000 14,000 1,026,463 1,096,463
Profit for the financial year 135,185 135,185
Dividends (124,000) (124,000)
At 30 April 2024 56,000 14,000 1,037,648 1,107,648
ZMR Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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).
Going concern
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.
Turnover
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.
Tangible fixed assets
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:
Leasehold improvements over 10 years
Plant and machinery 25% to 33% straight line
Motor vehicles 25% straight line
Stocks
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
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.
Provisions
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 38 42
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 411,535 1,791,239 53,353 2,256,127
Additions - 85,854 - 85,854
Disposals - - (9,087) (9,087)
At 30 April 2024 411,535 1,877,093 44,266 2,332,894
Depreciation
At 1 May 2023 120,540 1,547,316 45,769 1,713,625
Charge for the year - 95,717 4,113 99,830
On disposals - - (9,087) (9,087)
At 30 April 2024 120,540 1,643,033 40,795 1,804,368
Net book value
At 30 April 2024 290,995 234,060 3,471 528,526
At 30 April 2023 290,995 243,923 7,584 542,502
4 Debtors 2024 2023
£ £
Trade debtors 1,290,600 903,108
Other debtors 220,945 241,292
1,511,545 1,144,400
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 834,717 513,608
Taxation and social security costs 161,279 184,471
Other creditors 565,586 997,729
1,561,582 1,695,808
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 104,957 104,957
7 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts - 50,400
8 Related party transactions
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.
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
Sales Purchases
& services Debtor Creditor
Year 2024 £ £ £ £
Midland Building Products Ltd 2,959,598 625,031 570,836 183,965
Manchester Doors & Cubicles Ltd 710,513 - 135,410 -
Specialist Joinery Products Ltd 270,103 - 81,798 -
Southern Doors & Cubicles Ltd 347,861 - 59,426 -
UK Doorsets Ltd 1,212,210 7,860 356,281 -
Joinery Specialists Ltd 330,181 - 27,387 -
Leeds Doors & Cubicles Ltd 328,445 - 54,428 -
Fire & Acoustic Seals Ltd 1,048 15 - 18
Doorkit Solutions Ltd 16,811 - - -
IBS Building Products Ltd 3,673 - 1,135 -
FSC Doors Ltd - 196,323 - 54,002
Fire Core Solutions Ltd - 496,675 106,576
MBP Directors Pension Scheme - 100,000 - 20,000
Year 2023 £ £ £ £
Midland Building Products Ltd 3,247,632 630,595 119,185 175,107
Manchester Doors & Cubicles Ltd 805,242 - 217,750 -
Specialist Joinery Products Ltd 191,856 - 95,134 -
Southern Doors & Cubicles Ltd 427,969 - 69,259 -
UK Doorsets Ltd 1,313,001 2,774 261,933 -
Joinery Specialists Ltd 354,042 - 87,920 -
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
MBP Directors Pension Scheme - 100,000 - 20,000
9 Controlling party
The directors, together with members of their close family, control the company by virtue of owning 100% of the issued ordinary share capital.
10 Other information
ZMR Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Spartan Industrial Centre
Brickhouse Lane
West Bromwich
West Midlands
B70 0DH
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