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Registration number: 08176691

MBS IT Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

MBS IT Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

MBS IT Ltd

(Registration number: 08176691)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

339

453

Current assets

 

Stocks

1,500

9,798

Debtors

5

36,795

29,569

Cash at bank and in hand

 

140,232

137,386

 

178,527

176,753

Creditors: Amounts falling due within one year

6

(104,161)

(67,665)

Net current assets

 

74,366

109,088

Total assets less current liabilities

 

74,705

109,541

Creditors: Amounts falling due after more than one year

6

(15,000)

(25,000)

Net assets

 

59,705

84,541

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

59,505

84,341

Shareholders' funds

 

59,705

84,541

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

 

MBS IT Ltd

(Registration number: 08176691)
Balance Sheet as at 31 December 2023

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.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr I G Carroll
Director

 

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Alexandra Suite
Mornflake Stadium
Gresty Road
Crewe
Cheshire
CW2 6EB

The principal place of business is:
Alexandra Suite (Not Main Entrance)
Crewe Alex Stadium
Gresty Road
Crewe
Cheshire
CW2 6EB

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

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

 

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax.

The current 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.

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

Fixtures, fittings and computer equipment

25% reducing balance/straight line over 3 years

Plant and equipment

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures, fittings and computer equipment
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 January 2023

9,549

5,000

14,549

At 31 December 2023

9,549

5,000

14,549

Depreciation

At 1 January 2023

9,378

4,718

14,096

Charge for the year

43

71

114

At 31 December 2023

9,421

4,789

14,210

Carrying amount

At 31 December 2023

128

211

339

At 31 December 2022

171

282

453

5

Debtors

2023
£

2022
£

Trade debtors

 

34,850

26,907

Amounts owed by participating interests

-

800

Other debtors

 

1,945

1,862

Total current trade and other debtors

 

36,795

29,569

 

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Bank loan

10,000

10,000

Trade creditors

 

570

567

Taxation and social security

 

12,614

8,378

Other creditors

 

80,977

48,720

 

104,161

67,665

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

 

Bank loan

15,000

25,000