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REGISTERED NUMBER: 02376515 (England and Wales)










Financial Statements

for the Year Ended 30th April 2024

for

MBE Systems Limited

MBE Systems Limited (Registered number: 02376515)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MBE Systems Limited (Registered number: 02376515)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 60,331 43,713
60,332 43,714

CURRENT ASSETS
Stocks 107,645 247,784
Debtors 6 494,964 233,862
Cash at bank and in hand 450,046 560,356
1,052,655 1,042,002
CREDITORS
Amounts falling due within one year 7 133,403 119,321
NET CURRENT ASSETS 919,252 922,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

979,584

966,395

CREDITORS
Amounts falling due after more than one
year

8

24,710

-
NET ASSETS 954,874 966,395

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 954,774 966,295
SHAREHOLDERS' FUNDS 954,874 966,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MBE Systems Limited (Registered number: 02376515)

Balance Sheet - continued
30th April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th November 2024 and were signed by:





S C Baker - Director


MBE Systems Limited (Registered number: 02376515)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

MBE Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02376515

Registered office: The Elliott Centre
Elliott Road
Cirencester
Gloucestershire
GL7 1YS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MBE Systems Limited (Registered number: 02376515)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Patents
£   
COST
At 1st May 2023
and 30th April 2024 7,465
AMORTISATION
At 1st May 2023
and 30th April 2024 7,464
NET BOOK VALUE
At 30th April 2024 1
At 30th April 2023 1

MBE Systems Limited (Registered number: 02376515)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 126,623 16,887 61,550 39,540 244,600
Additions 7,549 - 42,830 2,134 52,513
At 30th April 2024 134,172 16,887 104,380 41,674 297,113
DEPRECIATION
At 1st May 2023 113,432 15,502 35,575 36,378 200,887
Charge for year 9,313 241 23,695 2,646 35,895
At 30th April 2024 122,745 15,743 59,270 39,024 236,782
NET BOOK VALUE
At 30th April 2024 11,427 1,144 45,110 2,650 60,331
At 30th April 2023 13,191 1,385 25,975 3,162 43,713

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 440,726 177,377
Other debtors 54,238 56,485
494,964 233,862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 6,134 -
Trade creditors 39,873 61,834
Taxation and social security 79,027 35,238
Other creditors 8,369 22,249
133,403 119,321

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 24,710 -