2023-04-012024-03-312024-03-31false08469920MC BLADES & SON LTD2024-09-19iso4217:GBPxbrli:pure084699202023-04-01084699202024-03-31084699202023-04-012024-03-31084699202022-04-01084699202023-03-31084699202022-04-012023-03-3108469920bus:SmallEntities2023-04-012024-03-3108469920bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3108469920bus:FullAccounts2023-04-012024-03-3108469920bus:PrivateLimitedCompanyLtd2023-04-012024-03-3108469920core:WithinOneYear2024-03-3108469920core:AfterOneYear2024-03-3108469920core:WithinOneYear2023-03-3108469920core:AfterOneYear2023-03-3108469920core:ShareCapital2024-03-3108469920core:SharePremium2024-03-3108469920core:RevaluationReserve2024-03-3108469920core:OtherReservesSubtotal2024-03-3108469920core:RetainedEarningsAccumulatedLosses2024-03-3108469920core:ShareCapital2023-03-3108469920core:SharePremium2023-03-3108469920core:RevaluationReserve2023-03-3108469920core:OtherReservesSubtotal2023-03-3108469920core:RetainedEarningsAccumulatedLosses2023-03-3108469920core:LandBuildings2024-03-3108469920core:PlantMachinery2024-03-3108469920core:Vehicles2024-03-3108469920core:FurnitureFittings2024-03-3108469920core:OfficeEquipment2024-03-3108469920core:NetGoodwill2024-03-3108469920core:IntangibleAssetsOtherThanGoodwill2024-03-3108469920core:ListedExchangeTraded2024-03-3108469920core:UnlistedNon-exchangeTraded2024-03-3108469920core:LandBuildings2023-03-3108469920core:PlantMachinery2023-03-3108469920core:Vehicles2023-03-3108469920core:FurnitureFittings2023-03-3108469920core:OfficeEquipment2023-03-3108469920core:NetGoodwill2023-03-3108469920core:IntangibleAssetsOtherThanGoodwill2023-03-3108469920core:ListedExchangeTraded2023-03-3108469920core:UnlistedNon-exchangeTraded2023-03-3108469920core:LandBuildings2023-04-012024-03-3108469920core:PlantMachinery2023-04-012024-03-3108469920core:Vehicles2023-04-012024-03-3108469920core:FurnitureFittings2023-04-012024-03-3108469920core:OfficeEquipment2023-04-012024-03-3108469920core:NetGoodwill2023-04-012024-03-3108469920core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3108469920core:ListedExchangeTraded2023-04-012024-03-3108469920core:UnlistedNon-exchangeTraded2023-04-012024-03-3108469920core:MoreThanFiveYears2023-04-012024-03-3108469920core:Non-currentFinancialInstruments2024-03-3108469920core:Non-currentFinancialInstruments2023-03-3108469920dpl:CostSales2023-04-012024-03-3108469920dpl:DistributionCosts2023-04-012024-03-3108469920core:LandBuildings2023-04-012024-03-3108469920core:PlantMachinery2023-04-012024-03-3108469920core:Vehicles2023-04-012024-03-3108469920core:FurnitureFittings2023-04-012024-03-3108469920core:OfficeEquipment2023-04-012024-03-3108469920dpl:AdministrativeExpenses2023-04-012024-03-3108469920core:NetGoodwill2023-04-012024-03-3108469920core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3108469920dpl:GroupUndertakings2023-04-012024-03-3108469920dpl:ParticipatingInterests2023-04-012024-03-3108469920dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3108469920core:ListedExchangeTraded2023-04-012024-03-3108469920dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3108469920core:UnlistedNon-exchangeTraded2023-04-012024-03-3108469920dpl:CostSales2022-04-012023-03-3108469920dpl:DistributionCosts2022-04-012023-03-3108469920core:LandBuildings2022-04-012023-03-3108469920core:PlantMachinery2022-04-012023-03-3108469920core:Vehicles2022-04-012023-03-3108469920core:FurnitureFittings2022-04-012023-03-3108469920core:OfficeEquipment2022-04-012023-03-3108469920dpl:AdministrativeExpenses2022-04-012023-03-3108469920core:NetGoodwill2022-04-012023-03-3108469920core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108469920dpl:GroupUndertakings2022-04-012023-03-3108469920dpl:ParticipatingInterests2022-04-012023-03-3108469920dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3108469920core:ListedExchangeTraded2022-04-012023-03-3108469920dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3108469920core:UnlistedNon-exchangeTraded2022-04-012023-03-3108469920core:NetGoodwill2024-03-3108469920core:IntangibleAssetsOtherThanGoodwill2024-03-3108469920core:LandBuildings2024-03-3108469920core:PlantMachinery2024-03-3108469920core:Vehicles2024-03-3108469920core:FurnitureFittings2024-03-3108469920core:OfficeEquipment2024-03-3108469920core:AfterOneYear2024-03-3108469920core:WithinOneYear2024-03-3108469920core:ListedExchangeTraded2024-03-3108469920core:UnlistedNon-exchangeTraded2024-03-3108469920core:ShareCapital2024-03-3108469920core:SharePremium2024-03-3108469920core:RevaluationReserve2024-03-3108469920core:OtherReservesSubtotal2024-03-3108469920core:RetainedEarningsAccumulatedLosses2024-03-3108469920core:NetGoodwill2023-03-3108469920core:IntangibleAssetsOtherThanGoodwill2023-03-3108469920core:LandBuildings2023-03-3108469920core:PlantMachinery2023-03-3108469920core:Vehicles2023-03-3108469920core:FurnitureFittings2023-03-3108469920core:OfficeEquipment2023-03-3108469920core:AfterOneYear2023-03-3108469920core:WithinOneYear2023-03-3108469920core:ListedExchange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MC BLADES & SON LTD

Registered Number
08469920
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MC BLADES & SON LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr MD Blades
Mr MJ Blades
Mrs CL Blades

Registered Address

Beck Farm Bungalow
Sandhayes Lane, Bishop Norton
Market Rasen
LN8 2BA

Registered Number

08469920 (England and Wales)
MC BLADES & SON LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3167,946154,382
167,946154,382
Current assets
Debtors485,90182,225
Cash at bank and on hand534-
86,43582,225
Creditors amounts falling due within one year5(147,867)(111,440)
Net current assets (liabilities)(61,432)(29,215)
Total assets less current liabilities106,514125,167
Creditors amounts falling due after one year6(73,160)(91,063)
Provisions for liabilities9(33,054)(32,877)
Net assets3001,227
Capital and reserves
Called up share capital100100
Profit and loss account2001,127
Shareholders' funds3001,227
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2024, and are signed on its behalf by:
Mr MD Blades
Director
Registered Company No. 08469920
MC BLADES & SON LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings153
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 237,977178,99111,64010,030208,638
Additions2,09017,32017,9902,00039,400
Disposals--(6,745)-(6,745)
At 31 March 2410,067196,31122,88512,030241,293
Depreciation and impairment
At 01 April 23-45,7941,1627,30054,256
Charge for year-16,9191,59773119,247
On disposals--(156)-(156)
At 31 March 24-62,7132,6038,03173,347
Net book value
At 31 March 2410,067133,59820,2823,999167,946
At 31 March 237,977133,19710,4782,730154,382
Included within the net book value of land and buildings above is £10,067 (2023 - £7,977) in respect of short leasehold land and buildings.
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables42,63048,878
Other debtors42,12032,366
Prepayments and accrued income1,151980
Total85,90182,224
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,6341,263
Bank borrowings and overdrafts57,06252,184
Taxation and social security45,82031,935
Finance lease and HP contracts25,73819,824
Other creditors355507
Accrued liabilities and deferred income9,2585,727
Total147,867111,440
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts34,06059,387
Other creditors39,10031,676
Total73,16091,063
Other borrowings Hire purchase with a carrying amount of £64,839 (2023 - £51,501) are included within loans and borrowings. The finance leases are secured on the related assets. Other Loans with a carrying amount of £87,573 (2023 - £100,313) are included within loans and borrowings. All the directors have provided personal guarantees in respect of other loans.
7.Secured creditors
The finance leases are secured on the related assets.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts39,10031,676
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)33,05432,877
Total33,05432,877
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr MJ Blades23,0057,293030,298
YE 31.03.24
23,0057,293030,298
YE 31.03.23 - Mr MJ Blades Brought forward £21,223 Advances £3,782 Repayments (£2,000) Carried forward £23,005