Year Ended
Registration number:
MRA Search Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
MRA Search Limited
Company Information
Directors |
Mr P Roxburgh Mr W Lefton |
Registered office |
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Accountants |
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Page 1 |
MRA Search Limited
Balance Sheet
31 December 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 2 |
MRA Search Limited
Balance Sheet
31 December 2018
For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 06950363
Page 3 |
MRA Search Limited
Notes to the Financial Statements
Year Ended 31 December 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006. There are no material departures from FRS102.
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.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in the ordinary course of business for services provided.
Foreign currency transactions and balances
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 corporation 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.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4 |
MRA Search Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 |
Fixtures, fittings and equipment |
25% reducing balance |
Office equipment |
25% reducing balance |
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.
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.
Page 5 |
MRA Search Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
MRA Search Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Tangible assets |
Furniture, fittings and equipment |
Office equipment |
Total |
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Cost or valuation |
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At 1 January 2018 |
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Additions |
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Disposals |
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At 31 December 2018 |
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Depreciation |
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At 1 January 2018 |
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Charge for the year |
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Eliminated on disposal |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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- |
Prepayments |
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Page 7 |
MRA Search Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Other tax and social security |
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Outstanding defined contribution pension costs |
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Other creditors |
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Accrued expenses |
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Corporation tax |
310,047 |
188,134 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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96.39 |
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96.39 |
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7.82 |
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7.82 |
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Rights, preferences and restrictions
The Ordinary 1p shares have voting rights and entitle the holder to rights to capital and dividends. |
The Ordinary B 1p shares have non-voting rights and entitle the holder to rights to capital and dividends. |
Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Page 8 |