Company registration number 08034833 (England and Wales)
M'S BUILDING SUPPLIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
M'S BUILDING SUPPLIES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
M'S BUILDING SUPPLIES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr L Wright
Mr J Sherborne
Mr C Sherborne
Mr J Clark
Company number
08034833
Registered office
45-47 Ashley Road
Boscombe
Bournemouth
Dorset
BH1 4LG
Auditor
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
M'S BUILDING SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
33,378
Current assets
Debtors
4
2
990,187
Cash at bank and in hand
-
0
20,266
2
1,010,453
Creditors: amounts falling due within one year
5
-
0
(3,681)
Net current assets
2
1,006,772
Net assets
2
1,040,150
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
-
0
1,040,148
Total equity
2
1,040,150

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 September 2024 and are signed on its behalf by:
Mr J Clark
Director
Company Registration No. 08034833
M'S BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

M's Building Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 45-47 Ashley Road, Boscombe, Bournemouth, Dorset, BH1 4LG.

1.1
Reporting period

The comparative reporting period had been shortened to bring the financial statements in line with other Sydenhams Group entities. Comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

In preparing these financial statements the directors are required to consider the appropriateness of the going concern assumption, the ability of the company to continue to operate for a period of at least 12 months after the date the financial statements are approved.

 

As at 31 March 2024, the company had net current assets of £2 (2023 - £1,006,772).

 

During the prior period the company transferred it's trade and certain assets to it's parent company, for the continuation of the business from elsewhere in the group, ceasing the operations of this company.  All new business and contractual engagements with customers are now being engaged by the immediate parent company directly instead of this company, with this company continuing only for as long as is necessary to fulfil its remaining customer contracts. All staff have been transferred to the immediate parent company. All residual ledger balances have been settled, the directors have transferred all remaining funds to the parent company and this company is now dormant.

 

Accordingly, the directors have assessed that it is not appropriate for the financial statements to be prepared on the going concern basis.

 

Financial statements prepared on a basis other than going concern, present all assets at the lower of their cost or realisable value, and present all liabilities as falling due within one year at the value of the future cash outflows expected.

 

Although these financial statements have been prepared on a basis other than going concern, due to the nature of the company's assets and liabilities at its balance sheet dates, there has been no impact on the reported performance or position of the company as a result of the financial statements having been prepared on this basis.

M'S BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

M'S BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0

The company had no employees during the year except for the 4 directors (2023 - 4).

3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 April 2023
105,000
79,400
184,400
Disposals
(105,000)
(79,400)
(184,400)
At 31 March 2024
-
0
-
0
-
0
Depreciation and impairment
At 1 April 2023
81,375
69,647
151,022
Depreciation charged in the year
10,500
2,438
12,938
Eliminated in respect of disposals
(91,875)
(72,085)
(163,960)
At 31 March 2024
-
0
-
0
-
0
Carrying amount
At 31 March 2024
-
0
-
0
-
0
At 31 March 2023
23,625
9,753
33,378
M'S BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2
990,187
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
122
Taxation and social security
-
0
2,631
Accruals and deferred income
-
0
928
-
0
3,681
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter — non-going concern basis of accounting

We draw attention to Note 1.3 to the financial statements which explains that the company’s business has been transferred to another group company, and that the company itself has ceased operating. The directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.3. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
7
Related party transactions

The company has taken advantage of the exemption available under Section 33 of FRS 102 and has not disclosed details of transactions or balances with other wholly-owned group companies.

M'S BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
8
Parent company

The immediate parent company is Sydenhams Limited, which is the parent company of the smallest group to consolidate these financial statements. The ultimate parent company is Sherborne Holdings Limited, which is the parent company of the largest group to consolidate these financial statements.

 

Copies of the consolidated financial statements can be obtained from the Company Secretary at 45-47 Ashley Road, Boscombe, Bournemouth, Dorset, BH1 4LG.

 

The ultimate controlling parties of Sherborne Holdings Limited are the majority shareholders C J Sherborne and J R Sherborne.

2024-03-312023-04-01false18 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr L WrightMr J SherborneMr C SherborneMr J Clarkfalsefalse080348332023-04-012024-03-3108034833bus:Director12023-04-012024-03-3108034833bus:Director22023-04-012024-03-3108034833bus:Director32023-04-012024-03-3108034833bus:Director42023-04-012024-03-3108034833bus:RegisteredOffice2023-04-012024-03-31080348332024-03-31080348332023-03-3108034833core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-3108034833core:PlantMachinery2024-03-3108034833core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-03-3108034833core:PlantMachinery2023-03-3108034833core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3108034833core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108034833core:CurrentFinancialInstruments2024-03-3108034833core:CurrentFinancialInstruments2023-03-3108034833core:ShareCapital2024-03-3108034833core:ShareCapital2023-03-3108034833core:RetainedEarningsAccumulatedLosses2024-03-3108034833core:RetainedEarningsAccumulatedLosses2023-03-3108034833core:LandBuildingscore:LongLeaseholdAssets2023-04-012024-03-3108034833core:PlantMachinery2023-04-012024-03-31080348332022-04-252023-03-3108034833core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-03-3108034833core:PlantMachinery2023-03-31080348332023-03-3108034833core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-012024-03-3108034833bus:PrivateLimitedCompanyLtd2023-04-012024-03-3108034833bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108034833bus:FRS1022023-04-012024-03-3108034833bus:Audited2023-04-012024-03-3108034833bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP