2023-04-012024-03-312024-03-31false11754716MB FINISHINGS LTD2024-11-25iso4217:GBPxbrli:pure117547162023-04-01117547162024-03-31117547162023-04-012024-03-31117547162022-04-01117547162023-03-31117547162022-04-012023-03-3111754716bus:SmallEntities2023-04-012024-03-3111754716bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3111754716bus:FullAccounts2023-04-012024-03-3111754716bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111754716core:WithinOneYear2024-03-3111754716core:AfterOneYear2024-03-3111754716core:WithinOneYear2023-03-3111754716core:AfterOneYear2023-03-3111754716core:ShareCapital2024-03-3111754716core:SharePremium2024-03-3111754716core:RevaluationReserve2024-03-3111754716core:OtherReservesSubtotal2024-03-3111754716core:RetainedEarningsAccumulatedLosses2024-03-3111754716core:ShareCapital2023-03-3111754716core:SharePremium2023-03-3111754716core:RevaluationReserve2023-03-3111754716core:OtherReservesSubtotal2023-03-3111754716core:RetainedEarningsAccumulatedLosses2023-03-3111754716core:LandBuildings2024-03-3111754716core:PlantMachinery2024-03-3111754716core:Vehicles2024-03-3111754716core:FurnitureFittings2024-03-3111754716core:OfficeEquipment2024-03-3111754716core:NetGoodwill2024-03-3111754716core:IntangibleAssetsOtherThanGoodwill2024-03-3111754716core:ListedExchangeTraded2024-03-3111754716core:UnlistedNon-exchangeTraded2024-03-3111754716core:LandBuildings2023-03-3111754716core:PlantMachinery2023-03-3111754716core:Vehicles2023-03-3111754716core:FurnitureFittings2023-03-3111754716core:OfficeEquipment2023-03-3111754716core:NetGoodwill2023-03-3111754716core:IntangibleAssetsOtherThanGoodwill2023-03-3111754716core:ListedExchangeTraded2023-03-3111754716core:UnlistedNon-exchangeTraded2023-03-3111754716core:LandBuildings2023-04-012024-03-3111754716core:PlantMachinery2023-04-012024-03-3111754716core:Vehicles2023-04-012024-03-3111754716core:FurnitureFittings2023-04-012024-03-3111754716core:OfficeEquipment2023-04-012024-03-3111754716core:NetGoodwill2023-04-012024-03-3111754716core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111754716core:ListedExchangeTraded2023-04-012024-03-3111754716core:UnlistedNon-exchangeTraded2023-04-012024-03-3111754716core:MoreThanFiveYears2023-04-012024-03-3111754716core:Non-currentFinancialInstruments2024-03-3111754716core:Non-currentFinancialInstruments2023-03-3111754716dpl:CostSales2023-04-012024-03-3111754716dpl:DistributionCosts2023-04-012024-03-3111754716core:LandBuildings2023-04-012024-03-3111754716core:PlantMachinery2023-04-012024-03-3111754716core:Vehicles2023-04-012024-03-3111754716core:FurnitureFittings2023-04-012024-03-3111754716core:OfficeEquipment2023-04-012024-03-3111754716dpl:AdministrativeExpenses2023-04-012024-03-3111754716core:NetGoodwill2023-04-012024-03-3111754716core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111754716dpl:GroupUndertakings2023-04-012024-03-3111754716dpl:ParticipatingInterests2023-04-012024-03-3111754716dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3111754716core:ListedExchangeTraded2023-04-012024-03-3111754716dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3111754716core:UnlistedNon-exchangeTraded2023-04-012024-03-3111754716dpl:CostSales2022-04-012023-03-3111754716dpl:DistributionCosts2022-04-012023-03-3111754716core:LandBuildings2022-04-012023-03-3111754716core:PlantMachinery2022-04-012023-03-3111754716core:Vehicles2022-04-012023-03-3111754716core:FurnitureFittings2022-04-012023-03-3111754716core:OfficeEquipment2022-04-012023-03-3111754716dpl:AdministrativeExpenses2022-04-012023-03-3111754716core:NetGoodwill2022-04-012023-03-3111754716core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111754716dpl:GroupUndertakings2022-04-012023-03-3111754716dpl:ParticipatingInterests2022-04-012023-03-3111754716dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3111754716core:ListedExchangeTraded2022-04-012023-03-3111754716dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3111754716core:UnlistedNon-exchangeTraded2022-04-012023-03-3111754716core:NetGoodwill2024-03-3111754716core:IntangibleAssetsOtherThanGoodwill2024-03-3111754716core:LandBuildings2024-03-3111754716core:PlantMachinery2024-03-3111754716core:Vehicles2024-03-3111754716core:FurnitureFittings2024-03-3111754716core:OfficeEquipment2024-03-3111754716core:AfterOneYear2024-03-3111754716core:WithinOneYear2024-03-3111754716core:ListedExchangeTraded2024-03-3111754716core:UnlistedNon-exchangeTraded2024-03-3111754716core:ShareCapital2024-03-3111754716core:SharePremium2024-03-3111754716core:RevaluationReserve2024-03-3111754716core:OtherReservesSubtotal2024-03-3111754716core:RetainedEarningsAccumulatedLosses2024-03-3111754716core:NetGoodwill2023-03-3111754716core:IntangibleAssetsOtherThanGoodwill2023-03-3111754716core:LandBuildings2023-03-3111754716core:PlantMachinery2023-03-3111754716core:Vehicles2023-03-3111754716core:FurnitureFittings2023-03-3111754716core:OfficeEquipment2023-03-3111754716core:AfterOneYear2023-03-3111754716core:WithinOneYear2023-03-3111754716core:ListedExchange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MB FINISHINGS LTD

Registered Number
11754716
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MB FINISHINGS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

BEDFORD, Michael John
DITCHBURN, Claire Michelle

Registered Address

Unit 2 Alpha Orchard Industrial Estate
Toddington
Cheltenham
GL54 5EB

Registered Number

11754716 (England and Wales)
MB FINISHINGS LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35,7006,900
Tangible assets4137,611119,557
143,311126,457
Current assets
Stocks52,5004,500
Debtors649,23972,295
Cash at bank and on hand9,28039,571
61,019116,366
Creditors amounts falling due within one year7(64,213)(66,301)
Net current assets (liabilities)(3,194)50,065
Total assets less current liabilities140,117176,522
Creditors amounts falling due after one year8(95,128)(65,283)
Net assets44,989111,239
Capital and reserves
Called up share capital1010
Profit and loss account44,979111,229
Shareholders' funds44,989111,239
The financial statements were approved and authorised for issue by the Board of Directors on 25 November 2024, and are signed on its behalf by:
BEDFORD, Michael John
Director
Registered Company No. 11754716
MB FINISHINGS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill, being the amount paid in connection with the transfer of the business in 2019, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery10
Vehicles5
Office Equipment3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year45
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2312,00012,000
At 31 March 2412,00012,000
Amortisation and impairment
At 01 April 235,1005,100
Charge for year1,2001,200
At 31 March 246,3006,300
Net book value
At 31 March 245,7005,700
At 31 March 236,9006,900
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 23190,3126,9555,064202,331
Additions52,7952,895-55,690
Disposals(23,000)--(23,000)
At 31 March 24220,1079,8505,064235,021
Depreciation and impairment
At 01 April 2379,0762,0641,63482,774
Charge for year32,8491,4481,42235,719
On disposals(21,083)--(21,083)
At 31 March 2490,8423,5123,05697,410
Net book value
At 31 March 24129,2656,3382,008137,611
At 31 March 23111,2364,8913,430119,557
5.Stocks

2024

2023

££
Raw materials and consumables2,5004,500
Total2,5004,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables31,20358,245
Prepayments and accrued income18,03614,050
Total49,23972,295
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,74116,690
Bank borrowings and overdrafts6,1761,370
Taxation and social security13,81537,538
Other creditors19,68810,667
Accrued liabilities and deferred income1,79336
Total64,21366,301
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts34,33239,899
Other creditors60,79625,384
Total95,12865,283
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts60,79625,384
The company entered into a new finance lease for commercial vehicles. The total amount borrowed was £47,509 over 5 years. The year end balance owed over 1-2 years is £14,653 and £30,356 over 2-5 years. The company's previous lease agreement for an older commercial vehicle was cleared on disposal of the vehicle. The company has finance leases for machinery outstanding at year end. The total amount borrowed was £23,103 over 5 years. The year end balance owed over 1-2 years is £9,241 (2023 - £9,241) and £6,546 over 2-5 years (£13,861 - 2023). Ownership of the machinery passes to the company on settlement of the finance lease.
10.Directors advances, credits and guarantees
Michael Bedford has a balance owed to him of £19,359 at year end. No interest or charges have been applied to this loan and the loan is repayable to the director on demand.
11.Controlling party
The ultimate controlling party is Michael Bedford.