Mabecron Books Ltd 03337738 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of publication and retail of books Digita Accounts Production Advanced 6.30.9574.0 true true 03337738 2022-04-01 2023-03-31 03337738 2023-03-31 03337738 core:CurrentFinancialInstruments 2023-03-31 03337738 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03337738 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03337738 bus:SmallEntities 2022-04-01 2023-03-31 03337738 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03337738 bus:FullAccounts 2022-04-01 2023-03-31 03337738 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03337738 bus:RegisteredOffice 2022-04-01 2023-03-31 03337738 bus:CompanySecretary1 2022-04-01 2023-03-31 03337738 bus:Director1 2022-04-01 2023-03-31 03337738 bus:Director2 2022-04-01 2023-03-31 03337738 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03337738 core:Goodwill 2022-04-01 2023-03-31 03337738 core:Buildings 2022-04-01 2023-03-31 03337738 core:ComputerEquipment 2022-04-01 2023-03-31 03337738 core:FurnitureFittings 2022-04-01 2023-03-31 03337738 core:PlantMachinery 2022-04-01 2023-03-31 03337738 countries:AllCountries 2022-04-01 2023-03-31 03337738 2021-04-01 2022-03-31 03337738 2022-03-31 03337738 core:CurrentFinancialInstruments 2022-03-31 03337738 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03337738 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 03337738

Mabecron Books Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Mabecron Books Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Mabecron Books Ltd

Company Information

Directors

Ronald Johns

Marion Johns

Company secretary

Marion Johns

Registered office

3 Briston Orchard
St Mellion
Saltash
Cornwall
PL12 6RQ

Accountants

Gibbs & Co Chartered Accountants
18 Tamar Close
Bere Alston
Yelverton
Devon
PL20 7HF

 

Mabecron Books Ltd

(Registration number: 03337738)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

15,863

20,576

Current assets

 

Stocks

78,959

94,356

Debtors

364,450

274,627

Cash at bank and in hand

 

10,052

3,909

 

453,461

372,892

Creditors: Amounts falling due within one year

(109,865)

(107,911)

Net current assets

 

343,596

264,981

Total assets less current liabilities

 

359,459

285,557

Creditors: Amounts falling due after more than one year

(68,855)

(86,219)

Net assets

 

290,604

199,338

Capital and reserves

 

Called up share capital

100

100

Retained earnings

290,504

199,238

Shareholders' funds

 

290,604

199,338

For the financial year ending 31 March 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 year 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.

Approved and authorised by the Board on 9 November 2023 and signed on its behalf by:
 

.........................................
Ronald Johns
Director

 

Mabecron Books Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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:
3 Briston Orchard
St Mellion
Saltash
Cornwall
PL12 6RQ

These financial statements were authorised for issue by the Board on 9 November 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.

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 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.

 

Mabecron Books Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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

Leashold property

10% straight line

Plant & machinery

15% reducing balance

Fixtures & fittings

15% reducing balance

Computer equipment

33.3% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

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.

 

Mabecron Books Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

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 directors) during the year, was 7 (2022 - 7).