2023-03-012024-02-292024-02-29false09436379MBA Haulage 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MBA Haulage Limited

Registered Number
09436379
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MBA Haulage Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Barbosu, Alexandru-Ioan

Registered Address

42 Moray Way 42 Moray Way
Romford
RM1 4YD

Registered Number

09436379 (England and Wales)
MBA Haulage Limited
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3462,941542,537
462,941542,537
Current assets
Debtors4110,332131,556
Cash at bank and on hand350,373149,654
460,705281,210
Creditors amounts falling due within one year5(279,787)(336,163)
Net current assets (liabilities)180,918(54,953)
Total assets less current liabilities643,859487,584
Provisions for liabilities6(87,959)(51,828)
Net assets555,900435,756
Capital and reserves
Called up share capital100100
Profit and loss account555,800435,656
Shareholders' funds555,900435,756
The financial statements were approved and authorised for issue by the Director on 28 November 2024, and are signed on its behalf by:
Barbosu, Alexandru-Ioan
Director
Registered Company No. 09436379
MBA Haulage Limited
Notes to the Financial Statements
for the year ended 29 February 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)
Plant and machinery15
Office Equipment15
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 23808,7652,797811,562
Additions-1,9401,940
At 29 February 24808,7654,737813,502
Depreciation and impairment
At 01 March 23267,3171,708269,025
Charge for year81,21731981,536
At 29 February 24348,5342,027350,561
Net book value
At 29 February 24460,2312,710462,941
At 28 February 23541,4481,089542,537
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables89,337110,561
Other debtors20,99520,995
Total110,332131,556
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables38,64528,999
Taxation and social security144,361108,115
Other creditors20,416197,449
Accrued liabilities and deferred income76,3651,600
Total279,787336,163
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.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)87,95951,828
Total87,95951,828
7.Related party transactions
Included within other creditors is an amount of £19,970 (2023: £18,673) due to the directors of the company. The loan does not attract interest and there is no specified repayment date.