MRM 47 Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06231858 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

MRM 47 Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M Chittenden

SECRETARY:

T Madge

REGISTERED OFFICE:

Arle Court (Manor House)

Hatherley Lane

Cheltenham

Gloucestershire

GL516PN

REGISTERED NUMBER:

06231858 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MRM 47 Ltd for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MRM 47 Ltd in accordance with the terms of our engagement letter dated 23 July 2014. Our work has been undertaken solely to prepare for your approval the financial statements of MRM 47 Ltd and state those matters that we have agreed to state to the director of MRM 47 Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MRM 47 Ltd and its director for our work or for this report.

It is your duty to ensure that MRM 47 Ltd 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 loss of MRM 47 Ltd. You consider that MRM 47 Ltd 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 MRM 47 Ltd. 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.

We have considered the adequacy of the disclosures made in note 2 of the financial statements concerning the reliance of the company on the continued support of the directors and shareholders in order to continue as a going concern. In view of the significance of this uncertainty we consider that it should be drawn to your attention.

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

31 July 2023

FIXED ASSETS

Tangible assets

4

101,765

12,329

CURRENT ASSETS

Stocks

309,142

148,247

Debtors

5

801,611

999,010

Cash at bank

51,961

22,803

1,162,714

1,170,060

CREDITORS

Amounts falling due within one year

6

1,124,644

1,010,056

NET CURRENT ASSETS

38,070

160,004

TOTAL ASSETS LESS CURRENT LIABILITIES

139,835

172,333

CREDITORS

Amounts falling due after more than one year

7

35,815

43,000

NET ASSETS

104,020

129,333

CAPITAL AND RESERVES

Called up share capital

331,460

331,460

Capital redemption reserve

(2,512,500

)

(2,512,500

)

Other reserves

703,500

703,500

Retained earnings

1,581,560

1,606,873

SHAREHOLDERS' FUNDS

104,020

129,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2023 and were signed by:

M Chittenden - Director

1.	STATUTORY INFORMATION

MRM 47 Ltd 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

Compliance with accounting standards

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the company's directors and shareholders. If the company were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts and to reclassify fixed assets as current assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2022

-

45,727

45,727

Additions

95,379

2,472

97,851

Disposals

-

(1,147

)

(1,147

)

At 31 December 2022

95,379

47,052

142,431

DEPRECIATION

At 1 January 2022

-

33,398

33,398

Charge for year

-

7,574

7,574

Eliminated on disposal

-

(306

)

(306

)

At 31 December 2022

-

40,666

40,666

NET BOOK VALUE

At 31 December 2022

95,379

6,386

101,765

At 31 December 2021

-

12,329

12,329

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Trade debtors

46,044

26,451

Other debtors

744,990

954,870

VAT

-

11,056

Prepayments and accrued income

10,577

6,633

801,611

999,010

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans and overdrafts

6,000

4,167

Trade creditors

5,742

22,211

Tax

-

4,585

P.A.Y.E. Control account

3,723

3,572

pension control account

500

608

Net wages control account

7,641

-

VAT

2,761

-

Other creditors

1,089,977

944,979

Directors' current accounts

1,300

23,434

Accruals and deferred income

7,000

6,500

1,124,644

1,010,056

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans - 1-2 years

6,000

8,333

Bank loans - 2-5 years

18,000

25,000

Bank loans more 5 yr by instal

11,815

9,667

35,815

43,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,815

9,667

8.	TRANSACTIONS WITH DIRECTORS

The company owed £1,300 (2021: £23,434) to M. Chittenden at the balance sheet date.

9.	RELATED PARTY DISCLOSURES

The company made sales of £120,782 (2021:£684,940) to companies owned by M Chittenden, a director and majority shareholder in the company.

As at the balance sheet date, the company was due the following by companies also owned by the director:

2022

2021

£

£

The Ordnance Depot Ltd

166,532

161,053

The Royal Hotel (Essex) Ltd

79,623

220,445

International House (CI) Ltd

122,621

242,621

Sand Dunes Ltd

22,180

19,780

Heritage Rocks Ltd

7,400

7,400

Eastgate Stree Ltd

108,600

118,400

Stanwood Holdings Ltd

159,671

161,271

Stanwood Enterprises Ltd

40,000

0

Accounts Realtime Ltd

15,000

0

As at the balance sheet date, the company owed the following to companies also owned by the director:

2022

2021

DBC Stores Ltd

82,000

0

Manor by the Lake (Cheltenham) Ltd

537,500

537,500

Woodhall Manor Events Ltd

98,118

98,118

Measured Media Ltd

44,174

44,174

Manor Studios Ltd

186,015

186,015

Seckford Hall Hotel Ltd

76,452

76,452

Capcoin Investments Ltd

47,400

-

10.	ULTIMATE CONTROLLING PARTY

The controlling party is M Chittenden.