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Registration number: 04389977

MPBA Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

MPBA Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

MPBA Limited

Company Information

Director

Mr David Price

Registered office

Whitehouse Business Centre
Wilderspool Business park
Greenalls Avenue
Warrington
WA4 6HL

Accountants

Davidson Stant Limited
The Glen
Knutsford Old Road
Stockton Heath
Warrington
Cheshire
WA4 2LD

 

MPBA Limited

(Registration number: 04389977)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

76,655

92,159

Current assets

 

Debtors

4

116,072

196,868

Cash at bank and in hand

 

336,514

423,639

 

452,586

620,507

Creditors: Amounts falling due within one year

5

(15,756)

(77,301)

Net current assets

 

436,830

543,206

Net assets

 

513,485

635,365

Capital and reserves

 

Called up share capital

6

375

375

Capital redemption reserve

500

500

Retained earnings

512,610

634,490

Shareholders' funds

 

513,485

635,365

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 February 2025
 

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

Mr David Price

Director

 

MPBA Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

 

MPBA Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 4).

 

MPBA Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

45,779

92,081

137,860

Additions

4,556

-

4,556

At 31 July 2024

50,335

92,081

142,416

Depreciation

At 1 August 2023

27,695

18,006

45,701

Charge for the year

5,258

14,802

20,060

At 31 July 2024

32,953

32,808

65,761

Carrying amount

At 31 July 2024

17,382

59,273

76,655

At 31 July 2023

18,084

74,075

92,159

4

Debtors

Current

2024
£

2023
£

Trade debtors

100,167

193,423

Prepayments

3,245

2,847

Other debtors

12,660

598

 

116,072

196,868

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

13,278

74,795

Other creditors

2,478

2,506

15,756

77,301

6

Share capital

Allotted, called up and fully paid shares

 

MPBA Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

500

500

500

500

       

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £490.53 (2023 - £421.33) per each Ordinary

183,950

158,000

 

 

8

Related party transactions

 

MPBA Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,000

12,500

Contributions paid to money purchase schemes

40,143

40,188

51,143

52,688