5 01/06/2023 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-06-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12010044 2023-06-01 2024-05-31 12010044 2024-05-31 12010044 2023-05-31 12010044 2022-06-01 2023-05-31 12010044 2023-05-31 12010044 2022-05-31 12010044 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 12010044 core:MotorVehicles 2023-06-01 2024-05-31 12010044 core:NetGoodwill 2023-06-01 2024-05-31 12010044 bus:RegisteredOffice 2023-06-01 2024-05-31 12010044 bus:LeadAgentIfApplicable 2023-06-01 2024-05-31 12010044 bus:Director1 2023-06-01 2024-05-31 12010044 core:NetGoodwill 2024-05-31 12010044 core:FurnitureFittingsToolsEquipment 2023-05-31 12010044 core:MotorVehicles 2023-05-31 12010044 core:FurnitureFittingsToolsEquipment 2024-05-31 12010044 core:MotorVehicles 2024-05-31 12010044 core:WithinOneYear 2024-05-31 12010044 core:WithinOneYear 2023-05-31 12010044 core:AfterOneYear 2024-05-31 12010044 core:AfterOneYear 2023-05-31 12010044 core:ShareCapital 2024-05-31 12010044 core:ShareCapital 2023-05-31 12010044 core:RetainedEarningsAccumulatedLosses 2024-05-31 12010044 core:RetainedEarningsAccumulatedLosses 2023-05-31 12010044 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-05-31 12010044 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 12010044 core:Non-currentFinancialInstruments 2024-05-31 12010044 core:FurnitureFittingsToolsEquipment 2023-05-31 12010044 core:MotorVehicles 2023-05-31 12010044 bus:Director1 2023-05-31 12010044 bus:Director1 2024-05-31 12010044 bus:Director1 2022-05-31 12010044 bus:Director1 2023-05-31 12010044 bus:Director1 2022-06-01 2023-05-31 12010044 bus:SmallEntities 2023-06-01 2024-05-31 12010044 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12010044 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12010044 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12010044 bus:FullAccounts 2023-06-01 2024-05-31 12010044 core:Subsidiary1 2023-06-01 2024-05-31 12010044 core:Subsidiary1 2024-05-31
Company registration number: 12010044
MBLA Greenview Ltd
Unaudited filleted financial statements
31 May 2024
MBLA Greenview Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
MBLA Greenview Ltd
Directors and other information
Director Dr Moira Baldiraghi
Company number 12010044
Registered office 797 Harrow Road
Sudbury Town
Wembley
HA0 2LP
Accountants Accountancy Solutions
797 Harrow Road
Sudbury Town
Wembley
HA0 2LP
Bankers Barclays Bank
1 Churchill Place
London
E14 5HP
MBLA Greenview Ltd
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 1,285,787 -
Tangible assets 6 108,071 58,584
Investments 7 1,000 -
_______ _______
1,394,858 58,584
Current assets
Debtors 8 24,644 10,667
Cash at bank and in hand 133,525 23,629
_______ _______
158,169 34,296
Creditors: amounts falling due
within one year 9 ( 164,156) ( 7,007)
_______ _______
Net current (liabilities)/assets ( 5,987) 27,289
_______ _______
Total assets less current liabilities 1,388,871 85,873
Creditors: amounts falling due
after more than one year 10 ( 1,300,136) ( 41,186)
_______ _______
Net assets 88,735 44,687
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 88,635 44,587
_______ _______
Shareholder funds 88,735 44,687
_______ _______
For the year ending 31 May 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 March 2025 , and are signed on behalf of the board by:
Dr Moira Baldiraghi
Director
Company registration number: 12010044
MBLA Greenview Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 797 Harrow Road, Sudbury Town, Wembley, HA0 2LP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Over useful life of 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 1 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 June 2023 - -
Additions 1,330,124 1,330,124
_______ _______
At 31 May 2024 1,330,124 1,330,124
_______ _______
Amortisation
At 1 June 2023 - -
Charge for the year 44,337 44,337
_______ _______
At 31 May 2024 44,337 44,337
_______ _______
Carrying amount
At 31 May 2024 1,285,787 1,285,787
_______ _______
At 31 May 2023 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2023 5,348 64,645 69,993
Additions 60,959 - 60,959
_______ _______ _______
At 31 May 2024 66,307 64,645 130,952
_______ _______ _______
Depreciation
At 1 June 2023 1,712 9,697 11,409
Charge for the year 3,230 8,242 11,472
_______ _______ _______
At 31 May 2024 4,942 17,939 22,881
_______ _______ _______
Carrying amount
At 31 May 2024 61,365 46,706 108,071
_______ _______ _______
At 31 May 2023 3,636 54,948 58,584
_______ _______ _______
7. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 June 2023 - -
Additions 1,000 1,000
_______ _______
At 31 May 2024 1,000 1,000
_______ _______
Impairment
At 1 June 2023 and 31 May 2024 - -
_______ _______
Carrying amount
At 31 May 2024 1,000 1,000
_______ _______
At 31 May 2023 - -
_______ _______
8. Debtors
2024 2023
£ £
Trade debtors 4,017 -
Other debtors 20,627 10,667
_______ _______
24,644 10,667
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 38,998 -
Trade creditors 42,688 -
Amounts owed to group undertakings 72 -
Corporation tax 47,296 1,059
Social security and other taxes 3,493 143
Other creditors 31,609 5,805
_______ _______
164,156 7,007
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 962,234 -
Other creditors 337,902 41,186
_______ _______
1,300,136 41,186
_______ _______
Bank loan is for a term of 5 years form draw down, with an amortisation profile of 15 years, and an interest of 2.25% above base rate. The above loan is secured by way of a legal charge over the leasehold property, owned by the subsidiary company, a debenture over the company and its subsidiary, cross guarantee by the subsidiary company and a personal guarantee from the director.
11. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Dr Moira Baldiraghi ( 601) ( 320,384) ( 320,985)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Dr Moira Baldiraghi ( 293) ( 308) ( 601)
_______ _______ _______
Terms of interest or repayment is not agreed on the directors loan account.
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Endofriend Ltd 62,444 - 72 -
_______ _______ _______ _______
13. Controlling party
Dr M Baldiraghi controls entire issued share capital of the company.