REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
M&B HOLDINGS AND INVESTMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
M&B HOLDINGS AND INVESTMENTS LTD |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
M&B HOLDINGS AND INVESTMENTS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Dukes Close |
Alton |
Hampshire |
GU34 1PH |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Fair value reserve | 8 | ( |
) |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
M&B Holdings and Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Financial instruments |
Basic financial instruments are recognised at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, will be measured, initially and subsequently, at the undiscounted amount, unless the transaction is beyond the normal business terms or financed at a rate of interest that is not a market rate. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2023 |
Transfer to ownership | (69,445 | ) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Transfer to ownership | (30,380 | ) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
PROVISIONS |
Diminution in value | 1,482,061 |
At 31 July 2024 | 1,482,061 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | DEBTORS |
31.7.24 | 31.7.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Hire purchase contracts |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
value |
reserve |
£ |
Investment diminution | (1,482,061 | ) |
At 31 July 2024 | ( |
) |
M&B HOLDINGS AND INVESTMENTS LTD (REGISTERED NUMBER: 12762877) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023: |
31.7.24 | 31.7.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Interest was declared on the director's overdrawn loan account at the HMRC official rate. This amounted to £374 (2023: £54) and is included within Interest receivable and similar income. |
10. | RELATED PARTY DISCLOSURES |
M & B Holdings and Investments Ltd own 60% of Morris and Blunt Ltd. During the year the following transactions occurred: |
Sales of £40,085 (2023 - £56,589) were received from Morris & Blunt Ltd. |
Dividends of £600,000 (2023 - £210,000) were received from Morris & Blunt Ltd |
Interest of £11,960 (2023 - £51,420) was receivable from Morris & Blunt Ltd. |
Trade debtors of £12,467 (2023: - nil) was owed from Morris & Blunt Ltd |
Included within Amounts owed by group undertakings is £nil (2023 - £847,791) due from Morris & Blunt Ltd. |
On 19th August 24 M & B Holdings and Investments sold 20% holding in Morris and Blunt Ltd. The value received indicated a diminution in investment value of £1,482,061. This has been reflected in the profit and loss and fair value reserve. |
11. | ULTIMATE CONTROLLING PARTY |
The company is ultimately jointly controlled by A Goodchild and M Blunt. |