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REGISTERED NUMBER: 11756610 (England and Wales)










MBI GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






MBI GROUP LTD (REGISTERED NUMBER: 11756610)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MBI GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: W C Brown
S A Burch
A J Collicott
S M Juniper





REGISTERED OFFICE: 23-25 Maidenhead Street1
Hertford
United Kingdom
SG14 1DW





REGISTERED NUMBER: 11756610 (England and Wales)





ACCOUNTANTS: Hakim Fry
Chartered Accountants
69-71 East Street
Epsom
Surrey
KT17 1BP

MBI GROUP LTD (REGISTERED NUMBER: 11756610)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 140,000 126,505

CURRENT ASSETS
Debtors 6 625 625
Cash at bank and in hand 12,454 629
13,079 1,254
CREDITORS
Amounts falling due within one year 7 55,470 43,504
NET CURRENT LIABILITIES (42,391 ) (42,250 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,609

84,255

CREDITORS
Amounts falling due after more than one
year

8

(83,013

)

(82,593

)

PROVISIONS FOR LIABILITIES (2,564 ) -
NET ASSETS 12,032 1,662

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 12,028 1,658
SHAREHOLDERS' FUNDS 12,032 1,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MBI GROUP LTD (REGISTERED NUMBER: 11756610)

BALANCE SHEET - continued
31 JANUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





A J Collicott - Director


MBI GROUP LTD (REGISTERED NUMBER: 11756610)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Mbi Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 126,505
Revaluations 13,495
At 31 January 2024 140,000
NET BOOK VALUE
At 31 January 2024 140,000
At 31 January 2023 126,505

MBI GROUP LTD (REGISTERED NUMBER: 11756610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 13,495
Cost 126,505
140,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 625 625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 2,464 2,480
Taxation and social security - 164
Other creditors 53,006 40,860
55,470 43,504

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 83,013 82,593

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 72,170 71,681

9. SECURED DEBTS

Aldermore Bank Plc have a charge over the Leasehold property.

10. RELATED PARTY DISCLOSURES

The Company maintains an interest free loan account, which is repayable on demand, MBI Staffing Ltd (Formerly MBI Medical Recruitment Ltd). MBI Staffing Ltd shares the same Directors, and key management of the entity. During the year, the Company received loans totalling £13,046 (2023: £23,200), at the year end, the Company owes £35,746 (2023: £22,700) to MBI Staffing Ltd.

The Company maintains an interest free loan account, which is repayable on demand, with MBI Medical Ltd. MBI Medical Ltd shares the same Directors, and key management of the entity. During the year, the Company received loans totalling £Nil (2023: £Nil) , at the year end, the Company owes £16,000 (2023: £62,000) to MBI Medical Ltd.