MB Manufacturing Limited 14163489 false 2022-06-10 2023-06-30 2023-06-30 The principal activity of the company is that of the sale and installation of fireplaces. Digita Accounts Production Advanced 6.30.9574.0 true true 14163489 2022-06-10 2023-06-30 14163489 2023-06-30 14163489 bus:OrdinaryShareClass1 2023-06-30 14163489 core:CurrentFinancialInstruments 2023-06-30 14163489 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 14163489 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 14163489 core:MotorVehicles 2023-06-30 14163489 core:OfficeEquipment 2023-06-30 14163489 core:PlantMachinery 2023-06-30 14163489 1 2023-06-30 14163489 bus:SmallEntities 2022-06-10 2023-06-30 14163489 bus:AuditExemptWithAccountantsReport 2022-06-10 2023-06-30 14163489 bus:FilletedAccounts 2022-06-10 2023-06-30 14163489 bus:SmallCompaniesRegimeForAccounts 2022-06-10 2023-06-30 14163489 bus:RegisteredOffice 2022-06-10 2023-06-30 14163489 bus:Director1 2022-06-10 2023-06-30 14163489 bus:Director2 2022-06-10 2023-06-30 14163489 bus:Director3 2022-06-10 2023-06-30 14163489 bus:Director4 2022-06-10 2023-06-30 14163489 bus:OrdinaryShareClass1 2022-06-10 2023-06-30 14163489 bus:PrivateLimitedCompanyLtd 2022-06-10 2023-06-30 14163489 core:MotorVehicles 2022-06-10 2023-06-30 14163489 core:OfficeEquipment 2022-06-10 2023-06-30 14163489 core:PlantMachinery 2022-06-10 2023-06-30 14163489 countries:AllCountries 2022-06-10 2023-06-30 14163489 1 2022-06-10 2023-06-30 14163489 1 2022-06-09 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14163489

MB Manufacturing Limited

Unaudited Filleted Financial Statements

for the Period from 10 June 2022 to 30 June 2023

 

MB Manufacturing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

MB Manufacturing Limited

Company Information

Directors

Mr M R Bain

Mr J A Bain

Mrs A J Shale

Mr J W Bain

Registered office

12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

MB Manufacturing Limited

(Registration number: 14163489)
Balance Sheet as at 30 June 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

71,961

Current assets

 

Stocks

5

50,000

Debtors

6

15,600

Cash at bank and in hand

 

11,410

 

77,010

Creditors: Amounts falling due within one year

7

(86,697)

Net current liabilities

 

(9,687)

Total assets less current liabilities

 

62,274

Creditors: Amounts falling due after more than one year

7

(30,145)

Provisions for liabilities

(3,853)

Net assets

 

28,276

Capital and reserves

 

Called up share capital

8

100

Retained earnings

28,176

Shareholders' funds

 

28,276

For the financial period ending 30 June 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 March 2024 and signed on its behalf by:
 

 

MB Manufacturing Limited

(Registration number: 14163489)
Balance Sheet as at 30 June 2023

.........................................
Mr M R Bain
Director

 

MB Manufacturing Limited

Notes to the Unaudited Financial Statements for the Period from 10 June 2022 to 30 June 2023

1

General information

MB Manufacturing Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is given in the company information on page 1 of these financial statements.

These financial statements were authorised for issue by the Board on 8 March 2024.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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 sales/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.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

MB Manufacturing Limited

Notes to the Unaudited Financial Statements for the Period from 10 June 2022 to 30 June 2023

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 and machinery

25% reducing balance basis

Office equipment

33% straight line basis

Motor vehicles

25% reducing balance basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

 

MB Manufacturing Limited

Notes to the Unaudited Financial Statements for the Period from 10 June 2022 to 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 9.

 

MB Manufacturing Limited

Notes to the Unaudited Financial Statements for the Period from 10 June 2022 to 30 June 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

50,500

1,390

37,474

89,364

At 30 June 2023

50,500

1,390

37,474

89,364

Depreciation

Charge for the period

7,575

459

9,369

17,403

At 30 June 2023

7,575

459

9,369

17,403

Carrying amount

At 30 June 2023

42,925

931

28,105

71,961

5

Stocks

2023
£

Other inventories

50,000

6

Debtors

Current

2023
£

Trade debtors

7,177

Other debtors

8,423

 

15,600

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

5,175

Trade creditors

 

59,222

Taxation and social security

 

20,975

Accruals and deferred income

 

1,325

 

86,697

 

MB Manufacturing Limited

Notes to the Unaudited Financial Statements for the Period from 10 June 2022 to 30 June 2023

Creditors include net obligations under finance lease and hire purchase contracts of £5,175 which are secured on the assets to which they relate.

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

30,145

Creditors include net obligations under finance lease and hire purchase contracts of £30,145 which are secured on the assets to which they relate.

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     

9

Related party transactions

Transactions with directors

2023

At 10 June 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Loan balance

-

14,152

(7,929)

6,223