Registered number
SC647589
MBF PROPERTIES LIMITED
Filleted Accounts
30 November 2023
MBF PROPERTIES LIMITED
Registered number: SC647589
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 128,011 128,011
Current assets
Cash at bank and in hand 2,897 2,104
Creditors: amounts falling due within one year 4 (138,041) (137,466)
Net current liabilities (135,144) (135,362)
Net liabilities (7,133) (7,351)
Capital and reserves
Called up share capital 2 2
Profit and loss account (7,135) (7,353)
Shareholders' funds (7,133) (7,351)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Martin Fleck
Director
Approved by the board on 16 February 2024
MBF PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). They have been prepared on a going concern basis and the status of the company as a going concern is dependent on the continued support of the company's directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property not provided
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Freehold Property
£
Cost
At 1 December 2022 128,011
At 30 November 2023 128,011
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 128,011
At 30 November 2022 128,011
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 207 -
Other creditors 137,834 137,466
138,041 137,466
5 Related party disclosures
As at 30 November 2023, included in the other creditors is a balance due to the directors of £136,968 (2022-£136,613). The balance has no fixed repayment date and no interest is charged thereon.
6 Other information
MBF PROPERTIES LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
10 Ferniegair Avenue
Helensburgh
Argyll & Bute
G84 8HB
MBF PROPERTIES LIMITED SC647589 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 Martin Fleck No description of principal activity SC647589 2021-12-01 2022-11-30 SC647589 core:WithinOneYear 2022-11-30 SC647589 core:ShareCapital 2022-11-30 SC647589 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC647589 2022-12-01 2023-11-30 SC647589 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC647589 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC647589 bus:Director40 2022-12-01 2023-11-30 SC647589 2 2022-12-01 2023-11-30 SC647589 countries:England 2022-12-01 2023-11-30 SC647589 bus:FRS102 2022-12-01 2023-11-30 SC647589 bus:FullAccounts 2022-12-01 2023-11-30 SC647589 2023-11-30 SC647589 core:WithinOneYear 2023-11-30 SC647589 core:ShareCapital 2023-11-30 SC647589 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC647589 core:LandBuildings 2023-11-30 SC647589 2022-11-30 SC647589 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure