MRMS Solutions Ltd 12373623 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the provision of software and operational services in the utilties, infrastructure and construction markets. Digita Accounts Production Advanced 6.30.9574.0 true true 12373623 2023-08-01 2024-07-31 12373623 2024-07-31 12373623 bus:Director5 2024-07-31 12373623 core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 12373623 core:RetainedEarningsAccumulatedLosses 2024-07-31 12373623 core:ShareCapital 2024-07-31 12373623 core:CurrentFinancialInstruments 2024-07-31 12373623 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12373623 core:Non-currentFinancialInstruments 2024-07-31 12373623 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 12373623 core:FurnitureFittingsToolsEquipment 2024-07-31 12373623 core:MotorVehicles 2024-07-31 12373623 bus:SmallEntities 2023-08-01 2024-07-31 12373623 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12373623 bus:FullAccounts 2023-08-01 2024-07-31 12373623 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12373623 bus:RegisteredOffice 2023-08-01 2024-07-31 12373623 bus:Director1 2023-08-01 2024-07-31 12373623 bus:Director2 2023-08-01 2024-07-31 12373623 bus:Director4 2023-08-01 2024-07-31 12373623 bus:Director5 2023-08-01 2024-07-31 12373623 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12373623 bus:Agent1 2023-08-01 2024-07-31 12373623 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 12373623 core:ShareCapital 2023-08-01 2024-07-31 12373623 core:FurnitureFittings 2023-08-01 2024-07-31 12373623 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 12373623 core:MotorVehicles 2023-08-01 2024-07-31 12373623 core:OfficeEquipment 2023-08-01 2024-07-31 12373623 core:PlantMachinery 2023-08-01 2024-07-31 12373623 core:UKTax 2023-08-01 2024-07-31 12373623 countries:EnglandWales 2023-08-01 2024-07-31 12373623 2023-07-31 12373623 core:RetainedEarningsAccumulatedLosses 2023-07-31 12373623 core:ShareCapital 2023-07-31 12373623 core:FurnitureFittingsToolsEquipment 2023-07-31 12373623 core:MotorVehicles 2023-07-31 12373623 2023-01-01 2023-07-31 12373623 2023-07-31 12373623 core:AcceleratedTaxDepreciationDeferredTax 2023-07-31 12373623 core:CurrentFinancialInstruments 2023-07-31 12373623 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12373623 core:Non-currentFinancialInstruments 2023-07-31 12373623 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12373623 core:FurnitureFittingsToolsEquipment 2023-07-31 12373623 core:MotorVehicles 2023-07-31 12373623 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-07-31 12373623 core:ShareCapital 2023-01-01 2023-07-31 12373623 core:UKTax 2023-01-01 2023-07-31 12373623 2022-12-31 12373623 core:RetainedEarningsAccumulatedLosses 2022-12-31 12373623 core:ShareCapital 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 12373623

MRMS Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

MRMS Solutions Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

MRMS Solutions Ltd

Company Information

Directors

Mr M L Popham

Mr M J Popham

Mr T Persson

Mr S Miah

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

MRMS Solutions Ltd

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr M L Popham

Mr M J Popham

Mr T Persson

Mr S Miah (appointed 19 June 2024)

Principal activity

The principal activity of the company is the provision of software and operational services in the utilties, infrastructure and construction markets.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

.........................................
Mr M L Popham
Director

.........................................
Mr M J Popham
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MRMS Solutions Ltd
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MRMS Solutions Ltd for the year ended 31 July 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of MRMS Solutions Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of MRMS Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of MRMS Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MRMS Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MRMS Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MRMS Solutions Ltd. You consider that MRMS Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MRMS Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

9 June 2025

 

MRMS Solutions Ltd

Profit and Loss Account for the Year Ended 31 July 2024

Note

2024
£

2023
£

Turnover

 

9,119,162

3,195,673

Cost of sales

 

(5,849,620)

(1,794,759)

Gross profit

 

3,269,542

1,400,914

Administrative expenses

 

(1,465,277)

(80,100)

Operating profit

 

1,804,265

1,320,814

Other interest receivable and similar income

 

19,803

75

Interest payable and similar expenses

 

(6,906)

-

   

12,897

75

Profit before tax

4

1,817,162

1,320,889

Tax on profit

 

(455,555)

(301,043)

Profit for the financial year

 

1,361,607

1,019,846

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

MRMS Solutions Ltd

Statement of Comprehensive Income for the Year Ended 31 July 2024

2024
£

2023
£

Profit for the year

1,361,607

1,019,846

Total comprehensive income for the year

1,361,607

1,019,846

 

MRMS Solutions Ltd

(Registration number: 12373623)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,123,993

171,090

Current assets

 

Debtors

7

1,460,931

2,472,651

Cash at bank and in hand

 

1,080,059

583,747

 

2,540,990

3,056,398

Creditors: Amounts falling due within one year

8

(1,450,067)

(2,267,415)

Net current assets

 

1,090,923

788,983

Total assets less current liabilities

 

3,214,916

960,073

Creditors: Amounts falling due after more than one year

8

(651,532)

-

Provisions for liabilities

(509,477)

(42,773)

Net assets

 

2,053,907

917,300

Capital and reserves

 

Called up share capital

375

375

Retained earnings

2,053,532

916,925

Shareholders' funds

 

2,053,907

917,300

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

.........................................
Mr M L Popham
Director

.........................................
Mr M J Popham
Director

 
     
 

MRMS Solutions Ltd

Statement of Changes in Equity for the Year Ended 31 July 2024

Share capital
£

Retained earnings
£

Total
£

At 1 August 2023

375

916,925

917,300

Profit for the year

-

1,361,607

1,361,607

Dividends

-

(225,000)

(225,000)

At 31 July 2024

375

2,053,532

2,053,907

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

300

34,079

34,379

Profit for the year

-

1,019,846

1,019,846

Dividends

-

(137,000)

(137,000)

New share capital subscribed

75

-

75

At 31 July 2023

375

916,925

917,300

 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Bond Street
Colne
Lancashire
BB8 9DG

These financial statements were authorised for issue by the Board on 9 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% Reducing balance

Plant and machinery

15% Reducing balance

Office equipment

20% Straight line

Fixtures and fittings

15% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 16 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

203,594

900

 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

-

258,270

UK corporation tax adjustment to prior periods

(11,149)

-

(11,149)

258,270

Deferred taxation

Arising from origination and reversal of timing differences

466,704

42,773

Tax expense in the income statement

455,555

301,043

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Accelerated tax depreciation

509,477

   

2023

Liability
£

Accelerated tax depreciation

42,773

   
 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

21,218

150,772

171,990

Additions

1,621,169

581,570

2,202,739

Disposals

-

(59,990)

(59,990)

At 31 July 2024

1,642,387

672,352

2,314,739

Depreciation

At 1 August 2023

280

620

900

Charge for the year

131,099

72,495

203,594

Eliminated on disposal

-

(13,748)

(13,748)

At 31 July 2024

131,379

59,367

190,746

Carrying amount

At 31 July 2024

1,511,008

612,985

2,123,993

At 31 July 2023

20,938

150,152

171,090

7

Debtors

2024
£

2023
£

Trade debtors

1,360,547

1,456,912

Prepayments

45,102

8,089

Other debtors

55,282

1,007,650

1,460,931

2,472,651

 

MRMS Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

175,082

-

Trade creditors

 

1,071,502

1,735,212

Taxation and social security

 

150,093

333,072

Accruals and deferred income

 

12,500

3,635

Other creditors

 

40,890

195,496

 

1,450,067

2,267,415

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

651,532

-

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

651,532

-

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

175,082

-

The finance lease liabilities are secured on the assets concerned.