Mulberry GBC Ltd 01720616 false 2022-07-01 2023-03-31 2023-03-31 The principal activity of the company is roofing activities. Digita Accounts Production Advanced 6.30.9574.0 true true true 01720616 2022-07-01 2023-03-31 01720616 2023-03-31 01720616 bus:OrdinaryShareClass1 2023-03-31 01720616 core:CurrentFinancialInstruments 2023-03-31 01720616 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01720616 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 01720616 core:FurnitureFittingsToolsEquipment 2023-03-31 01720616 core:MotorVehicles 2023-03-31 01720616 core:OtherPropertyPlantEquipment 2023-03-31 01720616 bus:SmallEntities 2022-07-01 2023-03-31 01720616 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-03-31 01720616 bus:FullAccounts 2022-07-01 2023-03-31 01720616 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-03-31 01720616 bus:RegisteredOffice 2022-07-01 2023-03-31 01720616 bus:Director1 2022-07-01 2023-03-31 01720616 bus:OrdinaryShareClass1 2022-07-01 2023-03-31 01720616 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-03-31 01720616 bus:Agent1 2022-07-01 2023-03-31 01720616 core:ComputerEquipment 2022-07-01 2023-03-31 01720616 core:FurnitureFittings 2022-07-01 2023-03-31 01720616 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-03-31 01720616 core:MotorVehicles 2022-07-01 2023-03-31 01720616 core:OtherPropertyPlantEquipment 2022-07-01 2023-03-31 01720616 core:PlantMachinery 2022-07-01 2023-03-31 01720616 1 2022-07-01 2023-03-31 01720616 countries:England 2022-07-01 2023-03-31 01720616 2022-06-30 01720616 core:FurnitureFittingsToolsEquipment 2022-06-30 01720616 core:MotorVehicles 2022-06-30 01720616 core:OtherPropertyPlantEquipment 2022-06-30 01720616 2021-07-01 2022-06-30 01720616 2022-06-30 01720616 bus:OrdinaryShareClass1 2022-06-30 01720616 core:CurrentFinancialInstruments 2022-06-30 01720616 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 01720616 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 01720616 core:FurnitureFittingsToolsEquipment 2022-06-30 01720616 core:MotorVehicles 2022-06-30 01720616 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01720616

Mulberry GBC Ltd

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 31 March 2023

 

Mulberry GBC Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Mulberry GBC Ltd

Company Information

Director

Dariusz Narowski

Registered office

Unit 47 Riverside Estate
Sir Thomas Longley Road
Rochester
Kent
England
ME2 4DP

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mulberry GBC Ltd
for the Period Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mulberry GBC Ltd for the period ended 31 March 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Mulberry GBC Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Mulberry GBC Ltd and state those matters that we have agreed to state to the Board of Directors of Mulberry GBC Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mulberry GBC Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mulberry GBC Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Mulberry GBC Ltd. You consider that Mulberry GBC Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Mulberry GBC Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

3 July 2024

 

Mulberry GBC Ltd

(Registration number: 01720616)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

67,815

53,292

Current assets

 

Stocks

5

-

871,107

Debtors

6

875,961

811,475

Cash at bank and in hand

 

20,097

340,186

 

896,058

2,022,768

Creditors: Amounts falling due within one year

7

(786,341)

(1,547,235)

Net current assets

 

109,717

475,533

Total assets less current liabilities

 

177,532

528,825

Creditors: Amounts falling due after more than one year

7

(215,726)

(281,658)

Provisions for liabilities

(15,027)

-

Net (liabilities)/assets

 

(53,221)

247,167

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(53,223)

247,165

Shareholders' (deficit)/funds

 

(53,221)

247,167

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account and Directors' Report has been taken.

 

Mulberry GBC Ltd

(Registration number: 01720616)
Balance Sheet as at 31 March 2023

Approved and authorised by the director on 3 July 2024
 

.........................................
Dariusz Narowski
Director

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 47 Riverside Estate
Sir Thomas Longley Road
Rochester
Kent
England
ME2 4DP
England

These financial statements were authorised for issue by the director on 3 July 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.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

Tax

The tax expense for the period comprises current and 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.

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.

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.

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 & machinery

10% on reducing balance method

Motor vehicle

25% on reducing balance method

Computer equipment

10% on straight line method

Furniture & Fixtures

25% on straight line method

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.

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 14 (2022 - 17).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

60,215

49,305

10,491

120,011

Additions

13,009

8,199

-

21,208

At 31 March 2023

73,224

57,504

10,491

141,219

Depreciation

At 1 July 2022

19,633

38,800

8,286

66,719

Charge for the period

3,867

2,653

165

6,685

At 31 March 2023

23,500

41,453

8,451

73,404

Carrying amount

At 31 March 2023

49,724

16,051

2,040

67,815

At 30 June 2022

40,582

10,505

2,205

53,292

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

5

Stocks

2023
£

2022
£

Work in progress

-

871,107

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

286

149,172

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

523,223

523,299

Other debtors

 

352,452

139,004

 

875,961

811,475

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

292,047

122,492

Trade creditors

 

29,727

1,055,486

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

62,387

-

Taxation and social security

 

389,232

358,285

Accruals and deferred income

 

7,672

3,781

Other creditors

 

5,276

7,191

 

786,341

1,547,235

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

215,726

281,658

Included within loans and borrowings less than one year is £36,213 (2022: £35,478), and loans and borrowings greater than one year is £138,072 (2022: £161,606). This relates to commercial loans which are secured by way of a fixed and floating charge and negative pledge.

 

Mulberry GBC Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,791 (2022 - £15,571). The balance relates to the undiscounted minimum future payments due under non-cancellable operating leases, no security has been provided.

10

Related party transactions

The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions with wholly owned members of the group headed by the parent company, Matrix Labs Ltd.

As at the period end there were amounts totalling £30,118 (2022: £713 owed to the director) owed by the director. The amounts are unsecured, interest free and repayable on demand.

11

Parent and ultimate parent undertaking

The company's immediate parent is Matrix labs Ltd, incorporated in England and Wales.