22 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 642,804 26,324 669,128 609,443 22,284 631,727 37,401 33,361 xbrli:pure xbrli:shares iso4217:GBP 02962517 2022-09-01 2023-08-31 02962517 2023-08-31 02962517 2022-08-31 02962517 2021-09-01 2022-08-31 02962517 2022-08-31 02962517 2021-08-31 02962517 bus:Director1 2022-09-01 2023-08-31 02962517 bus:Director2 2022-09-01 2023-08-31 02962517 core:WithinOneYear 2023-08-31 02962517 core:WithinOneYear 2022-08-31 02962517 core:UKTax 2022-09-01 2023-08-31 02962517 core:UKTax 2021-09-01 2022-08-31 02962517 core:ShareCapital 2023-08-31 02962517 core:ShareCapital 2022-08-31 02962517 core:RetainedEarningsAccumulatedLosses 2023-08-31 02962517 core:RetainedEarningsAccumulatedLosses 2022-08-31 02962517 bus:Director1 2021-08-31 02962517 bus:Director2 2021-08-31 02962517 bus:Director1 2021-09-01 2022-08-31 02962517 bus:Director2 2021-09-01 2022-08-31 02962517 bus:SmallEntities 2022-09-01 2023-08-31 02962517 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 02962517 bus:FullAccounts 2022-09-01 2023-08-31 02962517 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 02962517 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 02962517 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 02962517 core:FurnitureFittingsToolsEquipment 2022-08-31 02962517 core:FurnitureFittingsToolsEquipment 2023-08-31
COMPANY REGISTRATION NUMBER: 02962517
Malbourn Limited
Filleted Unaudited Financial Statements
31 August 2023
Malbourn Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
37,401
33,361
Current assets
Debtors
7
2,815
13,703
Cash at bank and in hand
105,641
127,709
---------
---------
108,456
141,412
Creditors: amounts falling due within one year
8
73,893
123,400
---------
---------
Net current assets
34,563
18,012
--------
--------
Total assets less current liabilities
71,964
51,373
--------
--------
Net assets
71,964
51,373
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
71,962
51,371
--------
--------
Shareholders funds
71,964
51,373
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Malbourn Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 9 September 2023 , and are signed on behalf of the board by:
Mr K Fine
Director
Company registration number: 02962517
Malbourn Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kids World, 9 Kingsway, Bedford, Bedfordshire, MK42 BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2022: 27 ).
5. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
3,932
20,431
-------
--------
Tax on profit
3,932
20,431
-------
--------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is lower than (2022: higher than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
2023
2022
£
£
Profit on ordinary activities before taxation
24,523
89,574
--------
--------
Profit on ordinary activities by rate of tax
4,659
17,019
Effect of expenses not deductible for tax purposes
4,274
4,096
Effect of capital allowances and depreciation
( 5,001)
( 684)
--------
--------
Tax on profit
3,932
20,431
--------
--------
6. Tangible assets
Equipment
£
Cost
At 1 September 2022
642,804
Additions
26,324
---------
At 31 August 2023
669,128
---------
Depreciation
At 1 September 2022
609,443
Charge for the year
22,284
---------
At 31 August 2023
631,727
---------
Carrying amount
At 31 August 2023
37,401
---------
At 31 August 2022
33,361
---------
7. Debtors
2023
2022
£
£
Trade debtors
10,281
Other debtors
2,815
3,422
-------
--------
2,815
13,703
-------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,935
20,432
Social security and other taxes
25,940
20,425
Other creditors
44,018
82,543
--------
---------
73,893
123,400
--------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Fine
Mrs S Fine
----
----
----
----
----
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2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Fine
( 9,036)
9,036
Mrs S Fine
( 9,036)
9,036
--------
--------
----
( 18,072)
18,072
--------
--------
----