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REGISTERED NUMBER: 06270258 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

MBSI DETAILING LTD

MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MBSI DETAILING LTD

COMPANY INFORMATION
for the Year Ended 30 June 2022







DIRECTOR: S Bennett





REGISTERED OFFICE: Suite 4, Beswick House
Green Fold Way
Leigh
Lancashire
WN7 3XJ





REGISTERED NUMBER: 06270258 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)

STATEMENT OF FINANCIAL POSITION
30 June 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,604 11,897

CURRENT ASSETS
Debtors 5 339,038 399,998
Cash at bank and in hand 22,395 37,880
361,433 437,878
CREDITORS
Amounts falling due within one year 6 390,028 169,615
NET CURRENT (LIABILITIES)/ASSETS (28,595 ) 268,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,991

)

280,160

CREDITORS
Amounts falling due after more than one
year

7

(162,428

)

(201,961

)

PROVISIONS FOR LIABILITIES 9 (2,150 ) (3,000 )
NET (LIABILITIES)/ASSETS (184,569 ) 75,199

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (184,570 ) 75,198
SHAREHOLDERS' FUNDS (184,569 ) 75,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





S Bennett - Director


MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

MBSI Detailing 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

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.

The company is dependent on the continuing support both financial and management of it's director and shareholder, who has confirmed his intention to do so for the coming 12 months. On this basis the accounts have been prepared on a going concern basis.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Tangible fixed assets are recorded at cost less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

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 statement of financial position date.

MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2022

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2021 166,417
Additions 905
At 30 June 2022 167,322
DEPRECIATION
At 1 July 2021 154,520
Charge for year 4,198
At 30 June 2022 158,718
NET BOOK VALUE
At 30 June 2022 8,604
At 30 June 2021 11,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 185,353 128,736
Other debtors 153,685 271,262
339,038 399,998

MBSI DETAILING LTD (REGISTERED NUMBER: 06270258)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 6,452 10,000
Trade creditors 1,200 4,353
Taxation and social security 46,577 74,029
Other creditors 335,799 81,233
390,028 169,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 41,037 40,106
Other creditors 121,391 161,855
162,428 201,961

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Other creditors 175,343 215,807

Other creditors are secured by way of a personal guarantee provided by the director.

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 2,150 3,000

Deferred
tax
£   
Balance at 1 July 2021 3,000
Credit to Statement of Income and Retained Earnings during year (850 )
Balance at 30 June 2022 2,150

10. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £108,224 (2021: £85,000).

11. RELATED PARTY DISCLOSURES

Included in Other Creditors is £260,125 (2021 £4,943) due to the director.

The director has provided a personal guarantee against certain Other Creditors.

During the year total dividends of £Nil (2021: £470,000) were paid to the director.