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REGISTERED NUMBER: 02615954 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

M.B. PRODUCTS LIMITED

M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M.B. PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr R Godfrey
Mr R Godfrey
Mrs L Godfrey



SECRETARY: Mrs L Godfrey



REGISTERED OFFICE: Unit 1A Waterside Park
Valley Way
Wombwell
Barnsley
S73 0BB



REGISTERED NUMBER: 02615954 (England and Wales)



ACCOUNTANTS: Reed Smith Accountancy Limited
Chartered Certified Accountants
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



BANKERS: Barclays Bank Plc
10-12 Pinstone Street
Sheffield
South Yorkshire
S1 2HN

M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 516,214 510,907

CURRENT ASSETS
Inventories 43,130 44,865
Debtors 5 241,646 231,622
Cash at bank and in hand 421,811 475,217
706,587 751,704
CREDITORS
Amounts falling due within one year 6 234,743 252,844
NET CURRENT ASSETS 471,844 498,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

988,058

1,009,767

CREDITORS
Amounts falling due after more than one
year

7

(15,759

)

(7,470

)

PROVISIONS FOR LIABILITIES (34,548 ) (33,585 )
NET ASSETS 937,751 968,712

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 922,751 953,712
SHAREHOLDERS' FUNDS 937,751 968,712

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




Mr R Godfrey - Director Mr R Godfrey - Director




Mrs L Godfrey - Director


M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)

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

1. STATUTORY INFORMATION

M.B. Products Limited 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 2% on cost
Plant and machinery etc - Straight line over 10 years, Straight line over 4 years, Straight line over 3 years and Straight line over 5 years

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.


M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)

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

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to
terminate the employment of an employee or of a group of employees before their normal retirement date or to
provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 29 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land & machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 475,657 296,984 772,641
Additions - 30,700 30,700
At 31 July 2024 475,657 327,684 803,341
DEPRECIATION
At 1 August 2023 39,390 222,344 261,734
Charge for year 9,512 15,881 25,393
At 31 July 2024 48,902 238,225 287,127
NET BOOK VALUE
At 31 July 2024 426,755 89,459 516,214
At 31 July 2023 436,267 74,640 510,907

M.B. PRODUCTS LIMITED (REGISTERED NUMBER: 02615954)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 225,035 213,997
Other debtors 16,611 17,625
241,646 231,622

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 61,972 55,028
Taxation and social security 100,833 120,945
Other creditors 71,938 76,871
234,743 252,844

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 15,759 7,470

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their combined controlling shareholding.