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Registration number: 14433646

MB Aluminium Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 April 2024

 

MB Aluminium Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

MB Aluminium Limited

Company Information

Directors

Mr Andrew Stuart Burns

Mr Paul Andrew Young

Mr Philip Henry Purnell

Registered office

1 Maggs Lane
Fishponds Trading Estate
Bristol
BS5 7EW

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

MB Aluminium Limited

(Registration number: 14433646)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

         

Fixed assets

   

Intangible assets

4

 

85,000

92,500

Current assets

   

Stocks

160,488

 

166,982

Debtors

5

83,749

 

61,391

Cash at bank and in hand

 

203,669

 

518,037

 

447,906

 

746,410

Creditors: Amounts falling due within one year

6

(269,999)

 

(582,982)

Net current assets

   

177,907

163,428

Net assets

   

262,907

255,928

Capital and reserves

   

Called up share capital

100

 

100

Retained earnings

262,807

 

255,828

Shareholders' funds

   

262,907

255,928

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................

Mr Andrew Stuart Burns
Director

 

MB Aluminium Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Maggs Lane
Fishponds Trading Estate
Bristol
BS5 7EW

These financial statements were authorised for issue by the Board on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MB Aluminium Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

MB Aluminium Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 7).

 

MB Aluminium Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

100,000

100,000

At 30 April 2024

100,000

100,000

Amortisation

At 1 August 2023

7,500

7,500

Amortisation charge

7,500

7,500

At 30 April 2024

15,000

15,000

Carrying amount

At 30 April 2024

85,000

85,000

At 31 July 2023

92,500

92,500

5

Debtors

Current

2024
£

2023
£

Trade debtors

80,291

61,291

Other debtors

3,458

100

 

83,749

61,391

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

56,322

72,982

Taxation and social security

3,450

120,223

Accruals and deferred income

3,000

3,000

Other creditors

207,227

386,777

269,999

582,982