Registered number
04768946
Macbeth Premium Finance Limited
Unaudited Filleted Accounts
31 December 2023
Macbeth Premium Finance Limited
Registered number: 04768946
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 2,021,823 1,867,746
Cash at bank and in hand 208,572 3,226
2,230,395 1,870,972
Creditors: amounts falling due within one year 4 (1,946,794) (1,525,149)
Net current assets 283,601 345,823
Total assets less current liabilities 283,601 345,823
Creditors: amounts falling due after more than one year 5 (9,675) (16,125)
Net assets 273,926 329,698
Capital and reserves
Called up share capital 60 100
Capital redemption reserve 6 40 -
Profit and loss account 273,826 329,598
Shareholders' funds 273,926 329,698
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.
P T Macbeth
Director
Approved by the board on 24 September 2024
Macbeth Premium Finance Limited
Notes to the Accounts
for the year ended 31 December 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).
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.
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.
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors 1,857,723 1,692,646
Other debtors 164,100 175,100
2,021,823 1,867,746
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,450 6,450
Trade creditors 1,492,142 1,066,841
Taxation and social security costs 41,551 55,295
Other creditors 406,651 396,563
1,946,794 1,525,149
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,675 16,125
6 Capital redemption reserve 2023 2022
£ £
On purchase of own shares 40 -
At 31 December 2023 40 -
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P T Macbeth
Short-term loan which is unsecured, interest free and with no fixed repayment date 175,000 - (11,000) 164,000
175,000 - (11,000) 164,000
8 Related party transactions
M S Macbeth Limited
M S Macbeth Limited is a company associated by common directors and shareholders. The Company has received a loan of £410,057 (2022 - £400,057) from M S Macbeth Limited which is unsecured, interest free and with no fixed repayment date.

A P Gibbs
On 23 February 2023, the company purchased and cancelled, from A P Gibbs, a director who also resigned on this day, 40 ordinary shares of £1 each for £130,000.
9 Controlling party
Following the company buyback of shares in February 2023 as detailed in note 8 above, the ultimate controlling party is one of the directors, P T Macbeth, by virtue of his ownership of the majority of the issued share capital of the company.
10 Other information
Macbeth Premium Finance Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor, Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
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