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REGISTERED NUMBER: 05112041 (England and Wales)











Audited Financial Statements

for the Year Ended 31 March 2025

for

MRRT Ltd

MRRT Ltd (Registered number: 05112041)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MRRT Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTORS: T Horton
N J Venning (Chair)
S W Walker (Chief Executive)





SECRETARY: Y Irfat





REGISTERED OFFICE: Faraday Wharf
Holt Street
Innovation Birmingham Campus
Birmingham
West Midlands
B7 4BB





REGISTERED NUMBER: 05112041 (England and Wales)





AUDITORS: Leigh Christou Ltd
Chartered Certified Accountants and
Statutory Auditor
Leofric House
Binley Road
Coventry
CV3 1JN

MRRT Ltd (Registered number: 05112041)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 40

CURRENT ASSETS
Debtors 5 149,807 278,099
Cash at bank 1,045,661 867,959
1,195,468 1,146,058
CREDITORS
Amounts falling due within one year 6 38,783 6,995
NET CURRENT ASSETS 1,156,685 1,139,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,156,685

1,139,103

RESERVES
Other reserves 7 1,173,182 1,089,616
Income and expenditure account 7 (16,497 ) 49,487
1,156,685 1,139,103

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 Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




N J Venning (Chair) - Director



S W Walker (Chief Executive) - Director


MRRT Ltd (Registered number: 05112041)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical evidence and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised in respect of lending services during the year, being arrangement fees and consultancy, utilisation of capital grants, and loan interest receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

MRRT Ltd (Registered number: 05112041)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments
Basic financial instruments, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

MRRT Ltd (Registered number: 05112041)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2024
and 31 March 2025 687
DEPRECIATION
At 1 April 2024 647
Charge for year 40
At 31 March 2025 687
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 40

5. DEBTORS
31.3.25 31.3.24
£    £   
Amounts falling due within one year:
Loans outstanding 61,582 90,749
Prepayments and accrued income 2,852 2,016
64,434 92,765

Amounts falling due after more than one year:
Loans outstanding 85,373 185,334

Aggregate amounts 149,807 278,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors - 40
Amounts owed to group undertakings 34,809 2,724
Tax - 707
Other creditors 902 452
Accruals and deferred income 3,072 3,072
38,783 6,995

MRRT Ltd (Registered number: 05112041)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. RESERVES
Income
and
expenditure Other
account reserves Totals
£    £    £   

At 1 April 2024 49,487 1,089,616 1,139,103
Deficit for the year (65,984 ) (65,984 )
Movement in provisions - 83,566 83,566
At 31 March 2025 (16,497 ) 1,173,182 1,156,685

Other reserves represents amounts received in the form of capital grants from which bad and doubtful debts are deducted. The balance as at 31 March 2025 consists of the following reserves balances:

20252024
£   £   
Phoenix Fund49,43049,280
ASLP285,295284,526
ERDF and Single Budget496,091450,617
Worcester City Council90,43490,434
Regional Growth Fund239,769238,596
Hertfordshire Council Fund12,16312,163
1,173,1821,125,616
General bad debt provision-(36,000)
1,173,1821,089,616

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

C A Christou FCCA MAE (Senior Statutory Auditor)
for and on behalf of Leigh Christou Ltd

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

During the year, the controlling interest was held by ART SHARE (Social Help Association for Reinvesting in Enterprise) Limited, a Community Benefit Society (Society No: 28537R).

The registered office of ART SHARE (Social Help Association for Reinvesting in Enterprise) Limited is Faraday Wharf, Holt Street, Innovation Birmingham Campus, Birmingham, B7 4BB.

11. LIMITED BY GUARANTEE

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.