true
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false
false
false
false
false
false
false
true
false
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false
false
false
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No description of principal activity
2018-02-01
Sage Accounts Production Advanced 2019 - FRS102_2014
24,179
24,179
612,835
612,835
612,835
xbrli:pure
xbrli:shares
iso4217:GBP
06794314
2018-02-01
2019-01-31
06794314
2019-01-31
06794314
2018-01-31
06794314
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2018-02-01
2019-01-31
06794314
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2019-01-31
06794314
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2019-01-31
06794314
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06794314
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06794314
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2019-01-31
06794314
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06794314
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06794314
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06794314
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2019-01-31
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2019-01-31
COMPANY REGISTRATION NUMBER:
06794314
MLR NETWORKS (HOLDINGS) LIMITED
|
|
UNAUDITED FINANCIAL STATEMENTS
|
|
MLR NETWORKS (HOLDINGS) LIMITED
|
|
YEAR ENDED 31 JANUARY 2019
Officers and professional advisers
|
1
|
|
|
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
MLR NETWORKS (HOLDINGS) LIMITED
|
|
OFFICERS AND PROFESSIONAL ADVISERS
|
|
The board of directors
|
Mr I Morris
|
|
Mr S Wood
|
|
|
Registered office
|
Unit 9 Beeston Court
|
|
Stuart Road
|
|
Manor Park
|
|
Runcorn
|
|
Cheshire
|
|
WA7 1SS
|
|
|
Accountants
|
ERC Accountants & Business Advisers Limited
|
|
Chartered accountants
|
|
Hanover Buildings
|
|
11-13 Hanover Street
|
|
Liverpool
|
|
L1 3DN
|
|
|
MLR NETWORKS (HOLDINGS) LIMITED
|
|
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
MLR NETWORKS (HOLDINGS) LIMITED
|
|
YEAR ENDED 31 JANUARY 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MLR Networks (Holdings) Limited for the year ended 31 January 2019, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of MLR Networks (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 9 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of MLR Networks (Holdings) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MLR Networks (Holdings) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that MLR Networks (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MLR Networks (Holdings) Limited. You consider that MLR Networks (Holdings) Limited 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 financial statements of MLR Networks (Holdings) Limited. 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 financial statements.
ERC Accountants & Business Advisers Limited
Chartered accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
L1 3DN
25 October 2019
MLR NETWORKS (HOLDINGS) LIMITED
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 January 2019
FIXED ASSETS
Investments
|
5
|
612,835
|
612,835
|
|
|
|
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
6
|
584,683
|
582,492
|
|
----------
|
----------
|
NET CURRENT LIABILITIES
|
584,683
|
582,492
|
|
----------
|
----------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
28,152
|
30,343
|
|
---------
|
---------
|
NET ASSETS
|
28,152
|
30,343
|
|
---------
|
---------
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
520
|
520
|
Profit and loss account
|
27,632
|
29,823
|
|
---------
|
---------
|
SHAREHOLDERS FUNDS
|
28,152
|
30,343
|
|
---------
|
---------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2019 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
MLR NETWORKS (HOLDINGS) LIMITED
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 January 2019
These financial statements were approved by the
board of directors
and authorised for issue on
25 October 2019
, and are signed on behalf of the board by:
Company registration number:
06794314
MLR NETWORKS (HOLDINGS) LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 JANUARY 2019
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 9 Beeston Court, Stuart Road, Manor Park, Runcorn, Cheshire, WA7 1SS.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
16% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
INTANGIBLE ASSETS
Cost
|
|
At 1 February 2018 and 31 January 2019
|
24,179
|
|
---------
|
Amortisation
|
|
At 1 February 2018 and 31 January 2019
|
24,179
|
|
---------
|
Carrying amount
|
|
At 31 January 2019
|
–
|
|
---------
|
At 31 January 2018
|
–
|
|
---------
|
|
|
5.
INVESTMENTS
|
Shares in group undertakings
|
|
£
|
|
|
Cost
|
|
At 1 February 2018 and 31 January 2019
|
612,835
|
|
----------
|
Impairment
|
|
At 1 February 2018 and 31 January 2019
|
–
|
|
----------
|
|
|
Carrying amount
|
|
At 31 January 2019
|
612,835
|
|
----------
|
At 31 January 2018
|
612,835
|
|
----------
|
|
|
The company owns 100% of the issued share capital of the companies listed below,
MLR Networks Limited
|
|
2019
|
2018
|
|
|
£
|
£
|
|
Aggregate capital and reserves
|
691,525
|
763,433
|
|
Profit and (loss) for the year
|
(67,908)
|
(113,336)
|
|
|
|
|
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6.
CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
|
584,683
|
582,492
|
|
----------
|
----------
|
|
|
|
7.
GOING CONCERN
The company is able to meet its day to day working capital requirements through the support of the directors and the company's creditors. Therefore the directors consider it appropriate to prepare the financial statements on the going concern basis.
8.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
No director received advances, credits or guarantees during the current or previous accounting periods.
9.
RELATED PARTY TRANSACTIONS
The following related party transactions were undertaken during the year: As at the balance sheet date the amount payable to the directors was £1,600 (2018: £1,600) Dividends were paid to the directors in respect of their shareholdings totalling £4,000 (2018: £32,000). Dividends were received from a group undertaking totalling £4,000 (2018: £32,000) The aggregate remuneration paid to key management personnel for the year was £nil (2018: £nil). No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.