MRMU (HIE) Limited - Filleted accounts

MRMU (HIE) Limited - Filleted accounts

MRMU (HIE) LIMITED - Company Information

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Registered number
07635987
MRMU (HIE) Limited
Filleted Accounts
31 May 2022
MRMU (HIE) Limited
Registered number: 07635987
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 378,658 558,691
Current assets
Debtors 5 183,042 153,080
Cash at bank and in hand 45,367 36,390
228,409 189,470
Creditors: amounts falling due within one year 6 (613,895) (504,314)
Net current liabilities (385,486) (314,844)
Total assets less current liabilities (6,828) 243,847
Creditors: amounts falling due after more than one year 7 (193,758) (438,632)
Net liabilities (200,586) (194,785)
Capital and reserves
Called up share capital 3 3
Share premium 570,000 570,000
Profit and loss account (770,589) (764,788)
Shareholders' funds (200,586) (194,785)
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.
The director acknowledges his 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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
M Upton
Director
Approved by the board on 17 January 2023
MRMU (HIE) Limited
Notes to the Accounts
for the year ended 31 May 2022
1 Statutory Information
MRMU (HIE) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2 Accounting policies
Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the service is provided.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 40 31
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2021 921,167
Additions 5,250
At 31 May 2022 926,417
Depreciation
At 1 June 2021 362,476
Charge for the year 185,283
At 31 May 2022 547,759
Net book value
At 31 May 2022 378,658
At 31 May 2021 558,691
5 Debtors: amounts falling due within one year 2022 2021
£ £
Trade debtors 66,781 82,990
Other debtors 116,261 70,090
183,042 153,080
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans 25,000 -
Hire purchase contracts 162,438 133,963
Trade creditors 164,178 128,160
Taxation and social security costs 36,161 12,814
Other creditors 226,118 229,377
613,895 504,314
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 51,698 100,000
Obligations under finance lease and hire purchase contracts 142,060 338,632
193,758 438,632
8 Related party transactions
Included within other debtors at the year end is an amount of £38,519 (2021: £38,519) due from
M.R.M.U Limited, a company in which M Upton, a director and shareholder of this company, has an interest in.

Included within other creditors at the year end is an amount of £21,779 (2021: £6,780) due to M Upton. This amount has been provided unsecured, interest free and is repayable on demand.

Also included within other creditors at the year end is an amount of £84,800 (2021: £25,000) due to Marblehome Limited, a company in which J White, a shareholder of this company, has an interest in. This amount has been provided unsecured and is repayable on demand. Interest of £4,800 (2021: £nil) has been charged during the year at the rate of 6%.

Also included within other creditors at the year end is an amount of £50,000 (2021: £50,000) due to Marylebone Finance House Limited, a company in which A Dinnie, a shareholder of this company, has an interest in. This amount has been provided unsecured and is repayable on demand. Interest of £3,000 (2021: £2,400) has been charged during the year at the rate of 6%.

Also included within other creditors at the year end is an amount of £54,000 (2021: £50,000) due to White Rose Nominees Limited, a company in which J Robertson, a shareholder of this company, has an interest in. This amount has been provided unsecured and is repayable on demand. Interest of £4,000 (2021: £2,400) has been charged during the year at the rate of 8% (2021: 6%).

Also included within other creditors at the year end is an amount of £nil (2021: £64,610) due to MRMU Property LLP, a company in which M Upton and J White have an interest in. Interest of £nil (2021: £8,000) has been charged during the year at the rate of 12.38%.
9 Other information
MRMU (HIE) Limited is a private company limited by shares and incorporated in England. Its registered office is:
317 Horn Lane
Acton
W3 0BU
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