M B C (Estates) Limited 3092259 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the provision of agriculture and other management services Digita Accounts Production Advanced 6.30.9574.0 true true 3092259 2021-01-01 2021-12-31 3092259 2021-12-31 3092259 bus:OrdinaryShareClass1 2021-12-31 3092259 core:CurrentFinancialInstruments 2021-12-31 3092259 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 3092259 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-31 3092259 core:OfficeEquipment 2021-12-31 3092259 core:PlantMachinery 2021-12-31 3092259 bus:SmallEntities 2021-01-01 2021-12-31 3092259 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 3092259 bus:FullAccounts 2021-01-01 2021-12-31 3092259 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 3092259 bus:RegisteredOffice 2021-01-01 2021-12-31 3092259 bus:Director1 2021-01-01 2021-12-31 3092259 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 3092259 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 3092259 core:Land 2021-01-01 2021-12-31 3092259 core:LandBuildings core:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 3092259 core:OfficeEquipment 2021-01-01 2021-12-31 3092259 core:PlantMachinery 2021-01-01 2021-12-31 3092259 core:OtherRelatedParties 2021-01-01 2021-12-31 3092259 countries:England 2021-01-01 2021-12-31 3092259 2020-12-31 3092259 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 3092259 core:OfficeEquipment 2020-12-31 3092259 core:PlantMachinery 2020-12-31 3092259 2020-01-01 2020-12-31 3092259 2020-12-31 3092259 bus:OrdinaryShareClass1 2020-12-31 3092259 core:CurrentFinancialInstruments 2020-12-31 3092259 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 3092259 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 3092259 core:OfficeEquipment 2020-12-31 3092259 core:PlantMachinery 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3092259

M B C (Estates) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

M B C (Estates) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

M B C (Estates) Limited

(Registration number: 3092259)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

312,531

312,237

Current assets

 

Debtors

5

9,088

44,688

Cash at bank and in hand

 

261,396

194,705

 

270,484

239,393

Creditors: Amounts falling due within one year

6

(3,425,111)

(3,432,426)

Net current liabilities

 

(3,154,627)

(3,193,033)

Net liabilities

 

(2,842,096)

(2,880,796)

Capital and reserves

 

Called up share capital

7

3

3

Profit and loss account

(2,842,099)

(2,880,799)

Shareholders' deficit

 

(2,842,096)

(2,880,796)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 March 2022 and signed on its behalf by:
 

.........................................
D J Cook
Director

 

M B C (Estates) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

2

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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis as the company's directors have confirmed that they will continue to support the company for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 income 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.

 

M B C (Estates) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Land

nil

Plant and machinery

33 1/3% straight line

Office equipment

50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price .

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

 

M B C (Estates) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2021

312,237

4,202

4,249

320,688

Additions

-

-

589

589

At 31 December 2021

312,237

4,202

4,838

321,277

Depreciation

At 1 January 2021

-

4,202

4,249

8,451

Charge for the year

-

-

295

295

At 31 December 2021

-

4,202

4,544

8,746

Carrying amount

At 31 December 2021

312,237

-

294

312,531

At 31 December 2020

312,237

-

-

312,237

Included within the net book value of land and buildings above is £312,237 (2020 - £312,237) in respect of freehold land and buildings.
 

5

Debtors

2021
£

2020
£

Trade debtors

9,088

44,688

9,088

44,688

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

29,962

5,555

Accruals and deferred income

4,317

5,060

Other creditors

3,390,832

3,421,811

3,425,111

3,432,426

Other creditors includes a loan of £3,000,000 (2020:£3,000,000) from a director of the company.The loan is due for repayment on the sale,under certain conditions, of the land (see note 8)

 

M B C (Estates) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £0.001 each

3,000

3.00

3,000

3.00

         

8

Related party transactions

Summary of transactions with other related parties

Mr Julian Blackwell (director)
 Included within other creditors is a loan of £3,000,000 advanced by Mr Julian Blackwell a director of the company. A loan note agreement dated 1st September 2016 provided the loan is only repayable as and when and if land held by the company is disposed and the net sale generates a sum in excess of £3,000,000.