MB Building & Construction Ltd
Registered number: 08235712
Statement of Financial Position
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 17,369 2,857
Current assets
Debtors 4 2,189 14,129
Cash at bank and in hand 10,525 16,020
12,714 30,149
Creditors: amounts falling due within one year 5 (79,371) (90,735)
Net current liabilities (66,657) (60,586)
Net liabilities (49,288) (57,729)
Capital and reserves
Called up share capital 100 100
Profit and loss account (49,388) (57,829)
Shareholder's funds (49,288) (57,729)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 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.
M Bishop
Director
Approved by the board on 20 March 2024
MB Building & Construction Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
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 rendering of services. 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:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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 and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 21,400
Additions 22,558
Disposals (16,900)
At 31 October 2023 27,058
Depreciation
At 1 November 2022 18,543
Charge for the year 5,790
On disposals (14,644)
At 31 October 2023 9,689
Net book value
At 31 October 2023 17,369
At 31 October 2022 2,857
4 Debtors 2023 2022
£ £
Trade debtors 1,641 2,632
Other debtors 548 11,497
2,189 14,129
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,096 3,688
Accruals 1,618 1,556
Other taxes and social security costs 766 20,045
Other creditors 72,891 65,446
79,371 90,735
6 Other information
MB Building & Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
MB Building & Construction Ltd 08235712 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2022 M Bishop No description of principal activity 08235712 2021-11-01 2022-10-31 08235712 core:WithinOneYear 2022-10-31 08235712 core:ShareCapital 2022-10-31 08235712 core:RetainedEarningsAccumulatedLosses 2022-10-31 08235712 2022-11-01 2023-10-31 08235712 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08235712 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08235712 bus:Director40 2022-11-01 2023-10-31 08235712 1 2022-11-01 2023-10-31 08235712 2 2022-11-01 2023-10-31 08235712 core:PlantMachinery 2022-11-01 2023-10-31 08235712 countries:England 2022-11-01 2023-10-31 08235712 bus:FRS102 2022-11-01 2023-10-31 08235712 bus:FullAccounts 2022-11-01 2023-10-31 08235712 2023-10-31 08235712 core:WithinOneYear 2023-10-31 08235712 core:ShareCapital 2023-10-31 08235712 core:RetainedEarningsAccumulatedLosses 2023-10-31 08235712 core:PlantMachinery 2023-10-31 08235712 2022-10-31 08235712 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure