REGISTERED NUMBER:
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MRM ENGINEERING SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019 |
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REGISTERED NUMBER:
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MRM ENGINEERING SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019 |
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MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MRM ENGINEERING SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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BALANCE SHEET |
31 OCTOBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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603,397 | 385,019 |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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BALANCE SHEET - continued |
31 OCTOBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
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1. | STATUTORY INFORMATION |
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MRM Engineering Services Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
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Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from vehicle maintenance is recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 November 2018 |
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Additions |
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Revaluations |
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At 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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Cost or valuation at 31 October 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2019 | 136,250 | 66,632 | 202,882 |
Cost | 375,000 | 170,868 | 545,868 |
511,250 | 237,500 | 748,750 |
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If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 375,000 | 375,000 |
Aggregate depreciation | 16,250 | 16,250 |
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Value of land in freehold land and buildings | 358,750 | 358,750 |
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Freehold land and buildings were valued on an open market basis on 5 August 2020 by Bullys Chartered Surveyors . |
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The plant and machinery revaluation was undertaken by the director during the year. |
MRM ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 07261268) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Pension | 960 | 163 |
VAT | 9,839 | 10,902 |
Directors' current accounts | 50,000 | 50,000 |
Accruals and deferred income |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Director's loan account > 1 yr |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Director's loan account | 1,122,851 | 1,054,604 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 20 | 20 |
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10. | GOING CONCERN |
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At the balance sheet date, the company is insolvent and is reliant on the continual support of the director, Mr M R Melling. The director has indicated that he will not withdraw this support. |