REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
MFBF LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
MFBF LIMITED |
MFBF LIMITED (REGISTERED NUMBER: 10252903) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MFBF LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MFBF LIMITED (REGISTERED NUMBER: 10252903) |
ABRIDGED BALANCE SHEET |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their 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. |
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 Board of Directors and authorised for issue on |
MFBF LIMITED (REGISTERED NUMBER: 10252903) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
MFBF Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost, except for investments in shares which are measured at fair value. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are 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. |
Investments |
Investment in shares are included at fair value with revaluation gains and losses being recognised in the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 July 2022 | 3,176,862 |
Additions | 311,052 |
Disposals | (232,334 | ) |
Revaluations | (369,743 | ) |
At 30 June 2023 | 2,885,837 |
NET BOOK VALUE |
At 30 June 2023 | 2,885,837 |
At 30 June 2022 | 3,176,862 |
MFBF LIMITED (REGISTERED NUMBER: 10252903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 30 June 2023 is represented by: |
Totals |
£ |
Valuation in 2017 | 215,693 |
Valuation in 2018 | (84,626 | ) |
Valuation in 2019 | (71,328 | ) |
Valuation in 2020 | (82,099 | ) |
Valuation in 2021 | 190,736 |
Valuation in 2022 | (148,312 | ) |
Valuation in 2023 | (369,743 | ) |
Cost | 3,235,516 |
2,885,837 |
If fixed asset investments had not been revalued the would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 3,235,516 | 3,156,799 |
The fixed asset investments were valued on an open market basis on 30 June 2023 by Canaccord Genuity Wealth Management . |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 30 June 2023, a director had loaned the company £2,609,514 (2022 - £2,944,331). There is no interest due on the loan and it is repayable upon demand. |