1 April 2023 false No description of principal activity Taxfiler 2024.6 OC379568business:LimitedLiabilityPartnershipLLP2023-04-012024-03-31 OC3795682023-03-31 OC3795682023-04-012024-03-31 OC379568business:AuditExemptWithAccountantsReport2023-04-012024-03-31 OC379568business:FullAccounts2023-04-012024-03-31 OC3795682024-03-31 OC379568business:PartnerLLP12023-04-012024-03-31 OC379568business:PartnerLLP22023-04-012024-03-31 OC379568business:PartnerLLP32023-04-012024-03-31 OC379568business:RegisteredOffice2023-04-012024-03-31 OC3795682023-03-31 OC379568core:WithinOneYear2024-03-31 OC379568core:WithinOneYear2023-03-31 OC379568core:AfterOneYear2024-03-31 OC379568core:AfterOneYear2023-03-31 OC379568business:SmallEntities2023-04-012024-03-31 OC379568core:MotorVehicles2023-04-012024-03-31 OC379568core:FurnitureFittings2023-04-012024-03-31 OC379568countries:EnglandWales2023-04-012024-03-31 OC379568core:MotorVehicles2023-03-31 OC379568core:FurnitureFittings2023-03-31 OC379568core:MotorVehicles2024-03-31 OC379568core:FurnitureFittings2024-03-31 OC3795682022-04-012023-03-31 iso4217:GBP xbrli:pure
Registered No. OC379568 (England and Wales)
MBI Insolvency LLP Unaudited accounts for the year ended 31 March 2024
MBI Insolvency LLP LLP Information for the year ended 31 March 2024
Designated members
Miss Emma Lois Minnie Payne
Mrs Suzanne Payne
Miss Yasmin Elana Payne
Registered Number
OC379568 (England and Wales)
Registered Office
10 Toad Pond Close Swinton Manchester M27 0BW England
Accountants
Streamline Accountancy Limited Suite 105, 9 St Georges Court Altrincham Business Park Dairyhouse Lane Altrincham Cheshire WA14 5UA
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MBI Insolvency LLP Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,533 
60,768 
Current assets
Cash at bank and in hand
4,208 
7,943 
Creditors: amounts falling due within one year
(10,720)
(10,720)
Net current liabilities
(6,512)
(2,777)
Total assets less current liabilities
36,021 
57,991 
Creditors: amounts falling due after more than one year
(3,333)
(13,333)
Net assets attributable to members
32,688 
44,658 
Represented by:
Loans and other debts due to members
32,688 
44,658 
32,688 
44,658 
Total members' interests
Loans and other debts due to members
32,688 
44,658 
32,688 
44,658 
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 24 December 2024.
Mrs Suzanne Payne Designated member Limited Liability Partnership Registration No. OC379568
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MBI Insolvency LLP Notes to the Accounts for the year ended 31 March 2024
1
Accounting policies
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) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
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:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Leased assets
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments. All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease. Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
2
Statutory information
MBI Insolvency LLP is a limited liability partnership, incorporated in England and Wales, registration number OC379568. Its registered office is 10 Toad Pond Close, Swinton, Manchester, M27 0BW, England.
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MBI Insolvency LLP Notes to the Accounts for the year ended 31 March 2024
3
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
72,750 
974 
73,724 
At 31 March 2024
72,750 
974 
73,724 
Depreciation
At 1 April 2023
12,125 
831 
12,956 
Charge for the year
18,188 
47 
18,235 
At 31 March 2024
30,313 
878 
31,191 
Net book value
At 31 March 2024
42,437 
96 
42,533 
At 31 March 2023
60,625 
143 
60,768 
4
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
10,000 
10,000 
Accruals
720 
720 
10,720 
10,720 
5
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
3,333 
13,333 
6
Loans and other debts due to members
2024 
2023 
£ 
£ 
Members' capital classified as a liability
32,688 
44,658 
Amounts falling due within one year
32,688 
44,658 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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