Company Registration No. 10252526 (England and Wales)
Mr Prep Ltd
Unaudited accounts
for the year ended 30 June 2024
Mr Prep Ltd
Unaudited accounts
Contents
Mr Prep Ltd
Company Information
for the year ended 30 June 2024
Directors
Iram Nazir
Omaad Nazir
Mohammed Jawaad Nazir
Company Number
10252526 (England and Wales)
Registered Office
Unit 4 Dunlop Road
Hunt End Industrial Estate
Redditch
B97 5XP
United Kingdom
Accountants
AC Counts & Services Ltd
Office 42
Imex Business Centre, Oxleasow Road
Redditch
Worcestershire
B98 0RE
Mr Prep Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
3,800
7,909
Cash at bank and in hand
20,943
18,946
Creditors: amounts falling due within one year
(23,590)
(24,374)
Net current assets
4,589
4,502
Total assets less current liabilities
8,389
12,411
Creditors: amounts falling due after more than one year
(29,724)
(39,724)
Net liabilities
(21,335)
(27,313)
Called up share capital
3
3
Profit and loss account
(21,338)
(27,316)
Shareholders' funds
(21,335)
(27,313)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by
Mohammed Jawaad Nazir
Director
Company Registration No. 10252526
Mr Prep Ltd
Notes to the Accounts
for the year ended 30 June 2024
Mr Prep Ltd is a private company, limited by shares, registered in England and Wales, registration number 10252526. The registered office is Unit 4 Dunlop Road, Hunt End Industrial Estate, Redditch, B97 5XP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The financial statements have been prepared on a going concern basis. This assumes the continued support of the director. The directors have indicated their support will continue for the foreseeable future.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line Method
Computer equipment
20% Straight Line Method
Mr Prep Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
16,743
3,040
19,783
Disposals
(3,991)
-
(3,991)
At 30 June 2024
13,552
3,040
16,592
At 1 July 2023
10,050
1,824
11,874
Charge for the year
3,510
608
4,118
On disposals
(3,200)
-
(3,200)
At 30 June 2024
10,360
2,432
12,792
At 30 June 2024
3,192
608
3,800
At 30 June 2023
6,693
1,216
7,909
Amounts falling due within one year
Deferred tax asset
-
3,224
Amounts falling due after more than one year
Accrued income and prepayments
4,407
4,407
Mr Prep Ltd
Notes to the Accounts
for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,699
7,035
Taxes and social security
1,115
-
Loans from directors
11,830
11,830
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).