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Company No: 01421428 (England and Wales)

M.B. (HANTS) LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

M.B. (HANTS) LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

M.B. (HANTS) LTD

BALANCE SHEET

As at 30 June 2024
M.B. (HANTS) LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 18,100 23,702
18,100 23,702
Current assets
Stocks 30,415 42,103
Debtors 4 36,968 53,683
Cash at bank and in hand 34,391 30,748
101,774 126,534
Creditors: amounts falling due within one year 5 ( 130,692) ( 155,269)
Net current liabilities (28,918) (28,735)
Total assets less current liabilities (10,818) (5,033)
Creditors: amounts falling due after more than one year 6 ( 22,713) ( 32,237)
Net liabilities ( 33,531) ( 37,270)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 33,631 ) ( 37,370 )
Total shareholders' deficit ( 33,531) ( 37,270)

For the financial 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.

Director's responsibilities:

The financial statements of M.B. (Hants) Ltd (registered number: 01421428) were approved and authorised for issue by the Director on 23 April 2025. They were signed on its behalf by:

Sarah Davies
Director
M.B. (HANTS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
M.B. (HANTS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M.B. (Hants) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Milford Bodyworks, Laundry Lane, Milford-On-Sea, Lymington, Hampshire, SO41 0WJ.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of VAT and trade discounts, in respect of the sale of goods and services to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 9

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 July 2023 32,713 118,762 17,938 169,413
Additions 0 1,000 0 1,000
Disposals ( 11,963) 0 0 ( 11,963)
At 30 June 2024 20,750 119,762 17,938 158,450
Accumulated depreciation
At 01 July 2023 21,479 107,721 16,511 145,711
Charge for the financial year 2,584 1,719 214 4,517
Disposals ( 9,878) 0 0 ( 9,878)
At 30 June 2024 14,185 109,440 16,725 140,350
Net book value
At 30 June 2024 6,565 10,322 1,213 18,100
At 30 June 2023 11,234 11,041 1,427 23,702

4. Debtors

2024 2023
£ £
Trade debtors 34,933 51,435
Other debtors 2,035 2,248
36,968 53,683

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 14,058 13,561
Trade creditors 61,260 61,430
Other taxation and social security 28,718 58,581
Other creditors 26,656 21,697
130,692 155,269

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 22,713 32,237

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 40,625 64,625