Company Registration No. 12732395 (England and Wales)
MPS Automotive Ltd
Unaudited accounts
for the year ended 31 March 2025
MPS Automotive Ltd
Unaudited accounts
Contents
MPS Automotive Ltd
Company Information
for the year ended 31 March 2025
Company Number
12732395 (England and Wales)
Registered Office
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
Accountants
Daniel Sam Limited
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
MPS Automotive Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
144,328
189,237
Cash at bank and in hand
28,373
7,132
Creditors: amounts falling due within one year
(84,090)
(87,217)
Net current liabilities
(11,110)
(26,806)
Total assets less current liabilities
133,218
162,431
Creditors: amounts falling due after more than one year
(325,213)
(240,087)
Net liabilities
(191,995)
(77,656)
Called up share capital
1,000
1,000
Share premium
680,827
680,827
Profit and loss account
(873,822)
(759,483)
Shareholders' funds
(191,995)
(77,656)
For the year ending 31 March 2025 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 director acknowledges his 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 and authorised for issue on 8 September 2025 and were signed on its behalf by
P McCallum
Director
Company Registration No. 12732395
MPS Automotive Ltd
Notes to the Accounts
for the year ended 31 March 2025
MPS Automotive Ltd is a private company, limited by shares, registered in England and Wales, registration number 12732395. The registered office is 61 Plodder Lane, Farnworth, Bolton, BL4 0BX.
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.
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:
Land & buildings
in accordance with the property
Plant & machinery
20% on cost
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
MPS Automotive Ltd
Notes to the Accounts
for the year ended 31 March 2025
A major part of the company's working capital is provided by a loan from a related company. The directors of that company have indicated that they will not demand repayment for the foreseeable future. As such, this company's accounts continue to be prepared on a going concern basis.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
89,113
47,847
110,000
29,921
276,881
At 31 March 2025
89,113
47,958
110,000
29,921
276,992
At 1 April 2024
26,980
31,642
7,333
21,689
87,644
Charge for the year
8,911
9,592
20,533
5,984
45,020
At 31 March 2025
35,891
41,234
27,866
27,673
132,664
At 31 March 2025
53,222
6,724
82,134
2,248
144,328
At 31 March 2024
62,133
16,205
102,667
8,232
189,237
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
82,133
102,667
Amounts falling due within one year
Trade debtors
7,355
12,976
Accrued income and prepayments
31,426
27,224
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Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
23,203
23,203
Trade creditors
32,608
31,822
Taxes and social security
17,447
10,507
Other creditors
727
20,832
MPS Automotive Ltd
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
72,294
84,600
Other creditors
252,919
155,487
8
Average number of employees
During the year the average number of employees was 8 (2024: 7).