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REGISTERED NUMBER: 13147821 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

MB2 CREATIVE LIMITED

MB2 CREATIVE LIMITED (REGISTERED NUMBER: 13147821)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MB2 CREATIVE LIMITED (REGISTERED NUMBER: 13147821)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,988 77,318
Tangible assets 5 - 7,398
57,988 84,716

CURRENT ASSETS
Debtors 6 111,319 58,542
Cash at bank 8,588 43,700
119,907 102,242
CREDITORS
Amounts falling due within one year 7 113,057 131,015
NET CURRENT ASSETS/(LIABILITIES) 6,850 (28,773 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,838

55,943

PROVISIONS FOR LIABILITIES - 1,406
NET ASSETS 64,838 54,537

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 64,837 54,536
SHAREHOLDERS' FUNDS 64,838 54,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

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 1 March 2024 and were signed by:





A O'Hehir - Director


MB2 CREATIVE LIMITED (REGISTERED NUMBER: 13147821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Mb2 Creative Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13147821

Registered office: Units A & B
Wessex Road Industrial Estate
Wessex Road
Bourne End
Buckinghamshire
SL8 5DT

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

MB2 CREATIVE LIMITED (REGISTERED NUMBER: 13147821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 96,647
AMORTISATION
At 1 July 2022 19,329
Amortisation for year 19,330
At 30 June 2023 38,659
NET BOOK VALUE
At 30 June 2023 57,988
At 30 June 2022 77,318

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 July 2022 8,258
Disposals (8,258 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 860
Charge for year 1,695
Eliminated on disposal (2,555 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 7,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 38,680 52,823
Amounts owed by group undertakings 61,473 -
Other debtors 11,166 5,719
111,319 58,542

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 26,474 -
Trade creditors 6,933 9,498
Amounts owed to group undertakings 78,000 104,796
Taxation and social security - 15,921
Other creditors 1,650 800
113,057 131,015

MB2 CREATIVE LIMITED (REGISTERED NUMBER: 13147821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
1 Ordinary £1 1 1

9. RELATED PARTY DISCLOSURES

The controlling party is Colourpoint Group Ltd.

The ultimate controlling party is D Dineen.