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REGISTERED NUMBER: 12522191 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MBM (SW) Limited

MBM (SW) Limited (Registered number: 12522191)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


MBM (SW) Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: P R Furnival
R S Foster
Miss H Jarvis





Registered office: Unit 21-24
Grace Mill Business Park
Maxwell Road
Plymouth
Devon
PL4 0SN





Registered number: 12522191 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

MBM (SW) Limited (Registered number: 12522191)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 114,588 94,134

Current assets
Stocks 333,270 316,642
Debtors 5 264,836 316,022
Investments 6 1,300 -
Cash at bank and in hand 506,230 317,976
1,105,636 950,640
Creditors
Amounts falling due within one year 7 772,982 705,847
Net current assets 332,654 244,793
Total assets less current liabilities 447,242 338,927

Creditors
Amounts falling due after more than
one year

8

(37,826

)

(28,867

)

Provisions for liabilities 10 (28,600 ) (17,800 )
Net assets 380,816 292,260

Capital and reserves
Called up share capital 11 105 105
Retained earnings 380,711 292,155
Shareholders' funds 380,816 292,260

MBM (SW) Limited (Registered number: 12522191)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2024 and were signed on its behalf by:





R S Foster - Director


MBM (SW) Limited (Registered number: 12522191)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

MBM (SW) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.

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.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover represents revenue earned from the sale of goods which is recognised at the point of delivery/collection to/by the customer.

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:

Leasehold property - Straight line over primary lease period.
Website - Straight line over 10 years.
Motor vehicles - Straight line over 7 to 8 years.
Equipment - Straight line over 3 to 10 years.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.


MBM (SW) Limited (Registered number: 12522191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

MBM (SW) Limited (Registered number: 12522191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Leasehold Motor
property Website vehicles Equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 11,931 33,223 61,545 10,864 117,563
Additions - 700 36,495 4,086 41,281
At 31 March 2024 11,931 33,923 98,040 14,950 158,844
Depreciation
At 1 April 2023 1,442 8,798 9,039 4,150 23,429
Charge for year 5,721 3,449 8,461 3,196 20,827
At 31 March 2024 7,163 12,247 17,500 7,346 44,256
Net book value
At 31 March 2024 4,768 21,676 80,540 7,604 114,588
At 31 March 2023 10,489 24,425 52,506 6,714 94,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 258,514 310,892
Other debtors 6,322 5,130
264,836 316,022

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 1,300 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9)
9,786

6,161
Trade creditors 609,118 594,151
Taxation and social security 148,491 100,528
Other creditors 5,587 5,007
772,982 705,847

MBM (SW) Limited (Registered number: 12522191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9)
37,826

28,867

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,786 6,161
Between one and five years 37,826 28,867
47,612 35,028

Non-cancellable operating leases
2024 2023
£    £   
Within one year 31,000 32,730
Between one and five years 31,500 62,500
62,500 95,230

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 28,600 17,800

Deferred
tax
£   
Balance at 1 April 2023 17,800
Provided during year 10,800
Balance at 31 March 2024 28,600

MBM (SW) Limited (Registered number: 12522191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £0.01 100 100
1 A £1 1 1
1 B £1 1 1
1 C £1 1 1
1 D £1 1 1
1 E £1 1 1
105 105

12. RELATED PARTY DISCLOSURES

During the period, all loans from/to related parties were cleared. There were no loans outstanding at the year end.

13. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by R S Foster and Miss H M Jarvis.