MBH Investments Limited 3303241 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 3303241 2023-04-01 2024-03-31 3303241 2024-03-31 3303241 core:RetainedEarningsAccumulatedLosses 2024-03-31 3303241 core:ShareCapital 2024-03-31 3303241 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-03-31 3303241 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 3303241 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 3303241 core:FurnitureFittingsToolsEquipment 2024-03-31 3303241 bus:SmallEntities 2023-04-01 2024-03-31 3303241 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 3303241 bus:FilletedAccounts 2023-04-01 2024-03-31 3303241 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 3303241 bus:RegisteredOffice 2023-04-01 2024-03-31 3303241 bus:Director2 2023-04-01 2024-03-31 3303241 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 3303241 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 3303241 countries:AllCountries 2023-04-01 2024-03-31 3303241 2023-03-31 3303241 core:FurnitureFittingsToolsEquipment 2023-03-31 3303241 2022-04-01 2023-03-31 3303241 2023-03-31 3303241 core:RetainedEarningsAccumulatedLosses 2023-03-31 3303241 core:ShareCapital 2023-03-31 3303241 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 3303241 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 3303241 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 3303241

MBH Investments Limited



Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

MBH Investments Limited

 

(Registration number: 3303241)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,764

5,605

Investment property

5

41,465,569

33,846,687

Other financial assets

8

104,934

107,476

Investments in joint property syndicates

6

5,370,672

5,344,069

Cost of investment in joint property syndicates

7

12,783

12,783

 

46,958,722

39,316,620

Current assets

 

Stocks

9

4,512,238

4,504,338

Debtors

10

1,905,063

2,864,195

Cash at bank and in hand

 

2,236,107

2,700,343

 

8,653,408

10,068,876

Creditors: Amounts falling due within one year

11

(3,692,878)

(3,414,792)

Net current assets

 

4,960,530

6,654,084

Total assets less current liabilities

 

51,919,252

45,970,704

Creditors: Amounts falling due after more than one year

11

(40,369,290)

(19,223,974)

Provisions for liabilities

(1,964,232)

(1,145,332)

Net assets

 

9,585,730

25,601,398

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

3,692,934

18,918,566

Non-distributable reserve

 

5,892,696

6,682,732

Total equity

 

9,585,730

25,601,398

 

MBH Investments Limited

 

(Registration number: 3303241)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 year 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 31 March 2025 and signed on its behalf by:
 

.........................................
J Adler
Director

 

MBH Investments Limited

 

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

1

General information

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

The address of its registered office is:
2ND Floor Parkgates Bury New Road
Prestwich
Manchester
M25 0TL
United Kingdom

These financial statements were authorised for issue by the Board on 31 March 2025.

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.

Investment in Joint Property Syndicates

Investments in syndicates are accounted for under the equity accounting method.

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 rents receivable, profits in joint property investments, sale of property and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

 

MBH Investments Limited

 

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

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Furniture, fittings and equipment

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

MBH Investments Limited

 

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

MBH Investments Limited

 

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

47,316

47,316

At 31 March 2024

47,316

47,316

Depreciation

At 1 April 2023

41,711

41,711

Charge for the year

841

841

At 31 March 2024

42,552

42,552

Carrying amount

At 31 March 2024

4,764

4,764

At 31 March 2023

5,605

5,605

5

Investment properties

2024
£

At 1 April 23

33,846,687

Additions

8,633,287

Disposals

(1,014,405)

At 31 March 24

41,465,569

The historical cost of the property is £33,608,641.

 

MBH Investments Limited

 

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

6

Investments in joint property syndicates

£

Capital as at 1 April 2023

5,344,335

Surplus/Deficit

1,083,149

Repayments

(1,056,812)

At 31 March 2024

5,370,672

7

Cost of investment in joint property syndicates

2024
£

At 1 April 2023

12,783

At 31 March 2024

12,783

 

MBH Investments Limited

 

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

8

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

107,476

107,476

Fair value adjustments

(20,078)

(20,078)

Additions

23,782

23,782

Disposals

(6,246)

(6,246)

At 31 March 2024

104,934

104,934

Impairment

Carrying amount

At 31 March 2024

104,934

104,934

9

Stocks

2024
£

2023
£

Other inventories

4,512,238

4,504,338

 

MBH Investments Limited

 

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

10

Debtors

Current

2024
£

2023
£

Trade debtors

581,319

508,393

Prepayments

15,000

1,277,549

Other debtors

1,308,744

1,078,253

 

1,905,063

2,864,195

11

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,261

1,261

Trade creditors

 

578,066

510,398

Taxation and social security

 

1,178,735

800,136

Accruals and deferred income

 

907,834

452,339

Other creditors

 

1,026,982

1,650,658

 

3,692,878

3,414,792


Creditors include bank loans and overdrafts which are secured of £1,261 (2023 - £72,414)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

40,369,290

19,223,974

Creditors include bank loans which are secured of £20,369,290 (2023- £19,223,974).