1 April 2023 false Taxfiler 2024.6 03512798business:PrivateLimitedCompanyLtd2023-04-012024-03-31 035127982023-03-31 035127982023-04-012024-03-31 03512798business:AuditExemptWithAccountantsReport2023-04-012024-03-31 03512798business:FilletedAccounts2023-04-012024-03-31 035127982024-03-31 03512798business:Director12023-04-012024-03-31 03512798business:Director22023-04-012024-03-31 03512798business:Director32023-04-012024-03-31 03512798business:Director42023-04-012024-03-31 03512798business:CompanySecretary12023-04-012024-03-31 03512798business:RegisteredOffice2023-04-012024-03-31 035127982023-03-31 03512798core:WithinOneYear2024-03-31 03512798core:WithinOneYear2023-03-31 03512798core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 03512798core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 03512798core:RevaluationReservecore:PreviouslyStatedAmount2024-03-31 03512798core:RevaluationReservecore:PreviouslyStatedAmount2023-03-31 03512798core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 03512798core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 03512798core:PreviouslyStatedAmount2024-03-31 03512798core:PreviouslyStatedAmount2023-03-31 03512798business:SmallEntities2023-04-012024-03-31 03512798countries:EnglandWales2023-04-012024-03-31 03512798core:LandBuildings2023-04-012024-03-31 03512798core:PlantMachinery2023-04-012024-03-31 03512798core:MotorVehicles2023-04-012024-03-31 03512798core:ComputerEquipment2023-04-012024-03-31 03512798core:LandBuildings2023-03-31 03512798core:PlantMachinery2023-03-31 03512798core:MotorVehicles2023-03-31 03512798core:LandBuildings2024-03-31 03512798core:PlantMachinery2024-03-31 03512798core:MotorVehicles2024-03-31 03512798business:Director212023-04-012024-03-31 03512798business:Director212023-03-31 03512798business:Director212024-03-31 035127982022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 03512798 (England and Wales)
M & B (Felixstowe) Limited Unaudited accounts for the year ended 31 March 2024
M & B (Felixstowe) Limited Unaudited accounts Contents
Page
- 2 -
M & B (Felixstowe) Limited Company Information for the year ended 31 March 2024
Directors
Adrian Newell Adrian Moss Keith Watson Gareth Williams
Secretary
Adrian Newell
Company Number
03512798 (England and Wales)
Registered Office
1 White Cliffs Business Centre Honeywood Road Dover Kent CT16 3EH United Kingdom
Accountants
Westcourt Accountancy Services Ltd 1 White Cliffs Business Centre Honeywood Road Dover Kent CT16 3EH
- 3 -
M & B (Felixstowe) Limited Accountants' report
Accountants' report to the board of directors of M & B (Felixstowe) Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Westcourt Accountancy Services Ltd 1 White Cliffs Business Centre Honeywood Road Dover Kent CT16 3EH 24 October 2024
- 4 -
M & B (Felixstowe) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
536,696 
23,092 
Investment property
1,065,000 
1,120,000 
1,601,696 
1,143,092 
Current assets
Debtors
2,369,023 
3,138,688 
Cash at bank and in hand
461,490 
681,252 
2,830,513 
3,819,940 
Creditors: amounts falling due within one year
(807,616)
(1,041,953)
Net current assets
2,022,897 
2,777,987 
Total assets less current liabilities
3,624,593 
3,921,079 
Provisions for liabilities
Deferred tax
(6,933)
(4,406)
Other provisions
(53,222)
(153,330)
(60,155)
(157,736)
Net assets
3,564,438 
3,763,343 
Capital and reserves
Called up share capital
1,000 
1,000 
Revaluation reserve
510,194 
565,194 
Profit and loss account
3,053,244 
3,197,149 
Shareholders' funds
3,564,438 
3,763,343 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Adrian Moss Director Company Registration No. 03512798
- 5 -
M & B (Felixstowe) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
M & B (Felixstowe) Limited is a private company, limited by shares, registered in England and Wales, registration number 03512798. The registered office is 1 White Cliffs Business Centre, Honeywood Road, Dover, Kent, CT16 3EH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0%
Plant & machinery
25% Straight Line
Motor vehicles
33% Straight Line
Computer equipment
50% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
- 6 -
M & B (Felixstowe) Limited Notes to the Accounts for the year ended 31 March 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Reserves
Included within the retained earnings is a non-distributable amount of 510194 which relates to the revaluation gains on investment properties.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
- 
68,904 
23,995 
92,899 
Additions
500,203 
5,092 
34,989 
540,284 
Disposals
- 
- 
(23,995)
(23,995)
At 31 March 2024
500,203 
73,996 
34,989 
609,188 
Depreciation
At 1 April 2023
- 
55,155 
14,652 
69,807 
Charge for the year
- 
10,540 
10,127 
20,667 
On disposals
- 
- 
(17,982)
(17,982)
At 31 March 2024
- 
65,695 
6,797 
72,492 
Net book value
At 31 March 2024
500,203 
8,301 
28,192 
536,696 
At 31 March 2023
- 
13,749 
9,343 
23,092 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
1,120,000 
Net loss from fair value adjustments
(55,000)
At 31 March 2024
1,065,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
71,575 
201,022 
Trade debtors
2,063,287 
2,264,840 
Accrued income and prepayments
70,369 
512,826 
Other debtors
163,792 
160,000 
2,369,023 
3,138,688 
- 7 -
M & B (Felixstowe) Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
380,442 
406,772 
Taxes and social security
31,796 
34,071 
Other creditors
289,327 
543,404 
Loans from directors
16,442 
16,582 
Accruals
89,609 
41,124 
807,616 
1,041,953 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Adrian Moss
Directors Loan Account
(16,582)
6,992 
6,852 
(16,442)
(16,582)
6,992 
6,852 
(16,442)
9
Transactions with related parties
During the year a director withdrew £6991 and paid in £6852. At the end of the year the director was owed by the company £16442. The companies provided services to and from the following companies which have common directors: M&B Logistics Ltd (Mr A Moss). Services received £393134. Services supplied £771508 Westcourt Accountancy Services Ltd ( Mr A Newell) Services received £4800 Services supplied £350 All services were provided at market rates.
10
Average number of employees
During the year the average number of employees was 26 (2023: 26).
- 8 -