ACCOUNTS - Final Accounts

MRB PARTNERS RESEARCH UK LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-06-302022-06-302021-07-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07331708 2021-07-01 2022-06-30 07331708 2020-07-01 2021-06-30 07331708 2022-06-30 07331708 2021-06-30 07331708 2020-07-01 07331708 c:Director3 2021-07-01 2022-06-30 07331708 d:ComputerEquipment 2021-07-01 2022-06-30 07331708 d:ComputerEquipment 2022-06-30 07331708 d:ComputerEquipment 2021-06-30 07331708 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 07331708 d:CurrentFinancialInstruments 2022-06-30 07331708 d:CurrentFinancialInstruments 2021-06-30 07331708 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07331708 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 07331708 d:ShareCapital 2022-06-30 07331708 d:ShareCapital 2021-06-30 07331708 d:RetainedEarningsAccumulatedLosses 2022-06-30 07331708 d:RetainedEarningsAccumulatedLosses 2021-06-30 07331708 c:OrdinaryShareClass1 2021-07-01 2022-06-30 07331708 c:OrdinaryShareClass1 2022-06-30 07331708 c:OrdinaryShareClass1 2021-06-30 07331708 c:FRS102 2021-07-01 2022-06-30 07331708 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 07331708 c:FullAccounts 2021-07-01 2022-06-30 07331708 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 07331708 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 07331708 d:AcceleratedTaxDepreciationDeferredTax 2021-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07331708

MRB PARTNERS RESEARCH UK LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

MRB PARTNERS RESEARCH UK LTD

REGISTERED NUMBER: 07331708

BALANCE SHEET

AS AT 30 JUNE 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		771		997
			771		997
Current assets
Debtors: amounts falling due within one year	5	369		10,193
Cash at bank and in hand		21,657		81,815
		22,026		92,008
Creditors: amounts falling due within one year	6	(11,883)		(87,792)
Net current assets			10,143		4,216
Total assets less current liabilities			10,914		5,213
Provisions for liabilities
Deferred tax	7	(146)		(189)
			(146)		(189)
Net assets			10,768		5,024

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		10,767	5,023
		10,768	5,024

Page 1

MRB PARTNERS RESEARCH UK LTD

REGISTERED NUMBER: 07331708

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr P C Perkins

Director

Date: 6 January 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1.	General information

MRB Partners Research UK Ltd is a private Company limited by shares incorporated in England and Wales, within the United Kingdom. The address of the registered office is 24 Old Bond Street, London, W1S 4AP. The Company is part of a small group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)


	2.8	Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Income and Retained Earnings.

2.9

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 6

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 July 2021	1,160
	At 30 June 2022	1,160
	Depreciation
	At 1 July 2021	163
	Charge for the year on owned assets	226
	At 30 June 2022	389
	Net book value
	At 30 June 2022	771
	At 30 June 2021	997

Debtors

					2022	2021
					£	£


Other debtors	269	1,222
Prepayments and accrued income	100	8,971
	369	10,193

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	24	104
Amounts owed to group undertakings	5,952	81,026
Corporation tax	1,190	676
Other creditors	-	1,054
Accruals	4,717	4,932
	11,883	87,792

Page 7

MRB PARTNERS RESEARCH UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

7.	Deferred taxation

	2022	2021
	£	£

At beginning of year	(189)	(873)
Charged to profit or loss	43	684
At end of year	(146)	(189)

The provision for deferred taxation is made up as follows:
	2022	2021
	£	£

	Accelerated capital allowances	(146)	(189)
		(146)	(189)

8.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

1 (2021 - 1) Ordinary Shares share of £1.00	1	1

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,039 (2021 - £6,458). Contributions totalling £NIL (2021 - £1,054) were payable to the fund at the balance sheet date and are included in creditors.

10.	Related party transactions
	The Company has taken advantage of the exemptions in FRS 102 section 1A whereby it has not disclosed transactions with wholly owned group companies.

Page 8