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REGISTERED NUMBER: 05307475 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

M B DESIGN AND DEVELOPMENT LIMITED

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M B DESIGN AND DEVELOPMENT LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: M A Bisicker





SECRETARY: Miss E D Peacock





REGISTERED OFFICE: 34a Maison Dieu
RICHMOND
North Yorkshire
DL10 7AU





REGISTERED NUMBER: 05307475 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
31-33 Victoria Road
Darlington
Co. Durham
DL1 5SB

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 138,178 21,784
Investments 5 3 3
138,181 21,787

CURRENT ASSETS
Stocks 431,124 702,362
Debtors 6 101,208 80,703
Cash at bank 245,651 130,931
777,983 913,996
CREDITORS
Amounts falling due within one year 7 244,137 352,975
NET CURRENT ASSETS 533,846 561,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,027

582,808

CREDITORS
Amounts falling due after more than one year 8 (120,964 ) (39,494 )

PROVISIONS FOR LIABILITIES (6,733 ) (4,139 )
NET ASSETS 544,330 539,175

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 544,329 539,174
SHAREHOLDERS' FUNDS 544,330 539,175

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

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

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2024 and were signed by:





M A Bisicker - Director


M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

M B Design and Development 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 15% on reducing balance

Stocks
Work in progress includes all direct expenditure, an appropriate proportion of fixed and variable overheads plus a profit element depending on the stage of completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Amounts claimed under Research and Development legislation are only recognised when their recovery is reasonably expected at the date the accounts are signed.

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.

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 55,492
Additions 156,134
Disposals (41,279 )
At 31 March 2024 170,347
DEPRECIATION
At 1 April 2023 33,708
Charge for year 22,689
Eliminated on disposal (24,228 )
At 31 March 2024 32,169
NET BOOK VALUE
At 31 March 2024 138,178
At 31 March 2023 21,784

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 41,279
Additions 156,134
Disposals (41,279 )
At 31 March 2024 156,134
DEPRECIATION
At 1 April 2023 24,227
Charge for year 21,523
Eliminated on disposal (24,228 )
At 31 March 2024 21,522
NET BOOK VALUE
At 31 March 2024 134,612
At 31 March 2023 17,052

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 3
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,986 124
Other debtors 12,269 13,592
Directors' current accounts 33,664 65,502
Prepayments 4,289 1,485
101,208 80,703

M B DESIGN AND DEVELOPMENT LIMITED (REGISTERED NUMBER: 05307475)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 6,000
Other loans - 125,000
Bank loan - Skeeby - 40,595
Hire purchase contracts 10,031 7,558
Trade creditors 47,956 31,844
Corporation tax - 8,126
Social security and other taxes 2,622 1,159
Deferred income 122,102 130,000
Accrued expenses 53,426 2,693
244,137 352,975

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 20,000
Hire purchase contracts 110,964 19,494
120,964 39,494

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - Skeeby - 40,595
Hire purchase contracts 120,995 27,052
120,995 67,647

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M A Bisicker
Balance outstanding at start of year 65,502 44,893
Amounts advanced 33,664 40,609
Amounts repaid (65,502 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,664 65,502