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COMPANY REGISTRATION NUMBER: 11412523
MAB Commercial Contracts Ltd
Filleted Unaudited Financial Statements
30 June 2024
MAB Commercial Contracts Ltd
Financial Statements
Year ended 30 June 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
MAB Commercial Contracts Ltd
Balance Sheet
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
9,398
4,627
Current assets
Stocks
36,000
40,000
Debtors
7
95,923
81,541
Cash at bank and in hand
19,447
21,553
---------
---------
151,370
143,094
Creditors: amounts falling due within one year
8
210,656
156,737
---------
---------
Net current liabilities
59,286
13,643
--------
--------
Total assets less current liabilities
( 49,888)
( 9,016)
Creditors: amounts falling due after more than one year
9
10,000
20,000
Provisions
Taxation including deferred tax
1,753
554
--------
--------
Net liabilities
( 61,641)
( 29,570)
--------
--------
MAB Commercial Contracts Ltd
Balance Sheet (continued)
30 June 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 61,741)
( 29,670)
--------
--------
Shareholders deficit
( 61,641)
( 29,570)
--------
--------
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 profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mrs K Myers
Director
Company registration number: 11412523
MAB Commercial Contracts Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The directors deem this to be appropriate and do not consider that a material uncertainty exists regarding going concern. The directors will continue to support the company for the foreseeable future. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from that date of the approval of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Other operating income
Other operating income is income received from Government grants.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 5 ).
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
2,646
3,877
9,187
15,710
Additions
100
9,159
9,259
Disposals
( 2,187)
( 2,187)
-------
-------
--------
--------
At 30 June 2024
2,746
3,877
16,159
22,782
-------
-------
--------
--------
Depreciation
At 1 July 2023
2,027
3,369
5,687
11,083
Charge for the year
279
169
4,040
4,488
Disposals
( 2,187)
( 2,187)
-------
-------
--------
--------
At 30 June 2024
2,306
3,538
7,540
13,384
-------
-------
--------
--------
Carrying amount
At 30 June 2024
440
339
8,619
9,398
-------
-------
--------
--------
At 30 June 2023
619
508
3,500
4,627
-------
-------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
25,094
34,505
Other debtors
70,829
47,036
--------
--------
95,923
81,541
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
99,914
86,444
Corporation tax
8,112
Social security and other taxes
85,353
54,025
Other creditors
7,277
6,268
---------
---------
210,656
156,737
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,000
20,000
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors had interest free, repayable on demand loans with the company. At the start of the year directors owed the company £45,746 and at the end of the year the directors owed £63,152. During the year the directors were advanced £17,406.