MB Advisors (Uk) Limited 09103011 false 2022-07-01 2023-03-31 2023-03-31 The principal activity of the company is real estate consultancy and related activities. Digita Accounts Production Advanced 6.30.9574.0 true true 09103011 2022-07-01 2023-03-31 09103011 2023-03-31 09103011 core:RetainedEarningsAccumulatedLosses 2023-03-31 09103011 core:ShareCapital 2023-03-31 09103011 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 09103011 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09103011 core:FurnitureFittingsToolsEquipment 2023-03-31 09103011 bus:SmallEntities 2022-07-01 2023-03-31 09103011 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-03-31 09103011 bus:FullAccounts 2022-07-01 2023-03-31 09103011 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-03-31 09103011 bus:RegisteredOffice 2022-07-01 2023-03-31 09103011 bus:Director1 2022-07-01 2023-03-31 09103011 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-03-31 09103011 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-03-31 09103011 core:PlantMachinery 2022-07-01 2023-03-31 09103011 countries:AllCountries 2022-07-01 2023-03-31 09103011 2022-06-30 09103011 core:FurnitureFittingsToolsEquipment 2022-06-30 09103011 2021-07-01 2022-06-30 09103011 2022-06-30 09103011 core:RetainedEarningsAccumulatedLosses 2022-06-30 09103011 core:ShareCapital 2022-06-30 09103011 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 09103011 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 09103011

MB Advisors (Uk) Limited



Filleted Unaudited Financial Statements

for the Period from 1 July 2022 to 31 March 2023

 

MB Advisors (Uk) Limited

 

(Registration number: 09103011)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,427

9,651

Other financial assets

6

21,433

21,433

Investments in joint property syndicates

5

151,986

145,284

 

182,846

176,368

Current assets

 

Debtors

7

1,666,866

1,113,232

Cash at bank and in hand

 

31,118

72,762

 

1,697,984

1,185,994

Creditors: Amounts falling due within one year

8

(203,103)

(220,006)

Net current assets

 

1,494,881

965,988

Net assets

 

1,677,727

1,142,356

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

1,677,726

1,142,355

Total equity

 

1,677,727

1,142,356

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 July 2023
 

 

MB Advisors (Uk) Limited

 

(Registration number: 09103011)
Balance Sheet as at 31 March 2023

.........................................
Mr M Brand
Director

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
2ND Floor Parkgates
Bury New Road
Prestwich
M25 0TL
United Kingdom

These financial statements were authorised for issue by the director on 4 July 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Investment in Joint Property Syndicates

Investments in syndicates are accounted for under the equity accounting method.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Plant & machinery

20% reducing balance

Furniture, fittings & equipment

20% reducing balance

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

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 and subsequently measured at amortised cost using the effective interest method.

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 the director) during the period, was 5 (2022 - 4).

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

17,913

17,913

Additions

2,133

2,133

At 31 March 2023

20,046

20,046

Depreciation

At 1 July 2022

8,262

8,262

Charge for the period

2,357

2,357

At 31 March 2023

10,619

10,619

Carrying amount

At 31 March 2023

9,427

9,427

At 30 June 2022

9,651

9,651

5

Investments in joint property syndicates

£

Capital as at 1 July 2022

145,284

Surplus/Deficit

15,254

Repayments

(8,552)

At 31 March 2023

151,986

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2022

21,433

21,433

At 31 March 2023

21,433

21,433

Impairment

Carrying amount

At 31 March 2023

21,433

21,433

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

731,426

132,950

Amounts owed by related parties

174,127

142,544

Other debtors

 

761,313

837,738

   

1,666,866

1,113,232

 

MB Advisors (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

35,495

30,349

Taxation and social security

3,369

4,207

Accruals and deferred income

3,400

3,000

Other creditors

4,383

11,547

Corporation tax liability

156,456

170,903

203,103

220,006