Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 8 February 2022 false 1 March 2023 28 February 2024 28 February 2024 13900659 Oliver Nepomuceno Mr Federico Barbisotti and Mr Marcello Barbisotti true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13900659 2023-02-28 13900659 2024-02-28 13900659 2023-03-01 2024-02-28 13900659 frs-core:CurrentFinancialInstruments 2024-02-28 13900659 frs-core:ShareCapital 2024-02-28 13900659 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13900659 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13900659 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13900659 frs-bus:SmallEntities 2023-03-01 2024-02-28 13900659 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13900659 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13900659 1 2023-03-01 2024-02-28 13900659 frs-bus:Director1 2023-03-01 2024-02-28 13900659 frs-core:CurrentFinancialInstruments 1 2024-02-28 13900659 frs-countries:EnglandWales 2023-03-01 2024-02-28 13900659 2022-02-07 13900659 2023-02-28 13900659 2022-02-08 2023-02-28 13900659 frs-core:CurrentFinancialInstruments 2023-02-28 13900659 frs-core:ShareCapital 2023-02-28 13900659 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 13900659 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 13900659
MBSU Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Adbell Advisory Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13900659
28 February 2024 28 February 2023
Notes
CURRENT ASSETS
Debtors 4 133,930 115,937
Cash at bank and in hand 60,635 44,672
194,565 160,609
Creditors: Amounts Falling Due Within One Year 5 (199,402 ) (152,042 )
NET CURRENT ASSETS (LIABILITIES) (4,837 ) 8,567
TOTAL ASSETS LESS CURRENT LIABILITIES (4,837 ) 8,567
NET (LIABILITIES)/ASSETS (4,837 ) 8,567
CAPITAL AND RESERVES
Called up share capital 11,757 11,757
Profit and Loss Account (16,594 ) (3,190 )
SHAREHOLDERS' FUNDS (4,837) 8,567
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Oliver Nepomuceno
Director
22/10/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MBSU Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13900659 . The registered office is Birchin Court , 20 Birchin Lane , EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The company has obtained undertakings from its shareholders that they will continue to support the company for the foreseeable future and meet all third party liabilities as they fall due. Given this undertaking, the director considers it appropriate to adopt a going concern basis in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.5.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.
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 statement of financial position 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 trade and other receivables 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, 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 receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables 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 payment is due within one year or
less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of
the company.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in cur
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
28 February 2024 28 February 2023
Due within one year
Trade debtors 133,905 109,952
Other debtors 25 -
VAT - 5,985
133,930 115,937
5. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
Trade creditors 103,407 71,535
VAT 80 -
Shareholder Loan 95,915 80,507
199,402 152,042
6. Ultimate Controlling Party
The company's ultimate controlling parties are Mr Federico Barbisotti and Mr Marcello Barbisotti  
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