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Registered number: 09623482
Mbs Concrete Pumping Limited
Financial Statements
For The Year Ended 30 June 2024
Nijjer Accountants Ltd
Chartered Accountants
5-7 Station Road
Longfield
Kent
DA3 7QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09623482
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,773 110,363
82,773 110,363
CURRENT ASSETS
Debtors 5 221,555 143,701
Cash at bank and in hand 26,815 41,282
248,370 184,983
Creditors: Amounts Falling Due Within One Year 6 (68,414 ) (102,744 )
NET CURRENT ASSETS (LIABILITIES) 179,956 82,239
TOTAL ASSETS LESS CURRENT LIABILITIES 262,729 192,602
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,693 ) (20,969 )
NET ASSETS 242,036 171,633
CAPITAL AND RESERVES
Called up share capital 7 99 99
Profit and Loss Account 241,937 171,534
SHAREHOLDERS' FUNDS 242,036 171,633
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Jaswinder Whaid
Director
26 February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mbs Concrete Pumping Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09623482 . The registered office is 80 Eddington Lane, Herne Bay, CT6 5TR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
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Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 355,000
As at 30 June 2024 355,000
Depreciation
As at 1 July 2023 244,637
Provided during the period 27,590
As at 30 June 2024 272,227
Net Book Value
As at 30 June 2024 82,773
As at 1 July 2023 110,363
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,986 3,024
Other debtors 218,569 140,677
221,555 143,701
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,374 3,634
Corporation tax 33,778 16,206
Other taxes and social security 22,351 11,705
Accruals and deferred income 3,350 2,000
Directors' loan accounts 3,561 69,199
68,414 102,744
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 99 99
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