4 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10904420 2023-09-01 2024-08-31 10904420 2024-08-31 10904420 2023-08-31 10904420 2022-09-01 2023-08-31 10904420 2023-08-31 10904420 2022-08-31 10904420 core:PlantMachinery 2023-09-01 2024-08-31 10904420 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 10904420 core:MotorVehicles 2023-09-01 2024-08-31 10904420 bus:RegisteredOffice 2023-09-01 2024-08-31 10904420 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 10904420 bus:Director1 2023-09-01 2024-08-31 10904420 bus:Director2 2023-09-01 2024-08-31 10904420 core:PlantMachinery 2023-08-31 10904420 core:FurnitureFittingsToolsEquipment 2023-08-31 10904420 core:MotorVehicles 2023-08-31 10904420 core:PlantMachinery 2024-08-31 10904420 core:FurnitureFittingsToolsEquipment 2024-08-31 10904420 core:MotorVehicles 2024-08-31 10904420 core:WithinOneYear 2024-08-31 10904420 core:WithinOneYear 2023-08-31 10904420 core:AfterOneYear 2024-08-31 10904420 core:AfterOneYear 2023-08-31 10904420 core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 10904420 core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 10904420 core:ShareCapital 2024-08-31 10904420 core:ShareCapital 2023-08-31 10904420 core:RetainedEarningsAccumulatedLosses 2024-08-31 10904420 core:RetainedEarningsAccumulatedLosses 2023-08-31 10904420 core:ShareCapital 2022-08-31 10904420 core:RetainedEarningsAccumulatedLosses 2022-08-31 10904420 core:PreviouslyStatedAmount core:ShareCapital 2024-08-31 10904420 core:PlantMachinery 2023-08-31 10904420 core:FurnitureFittingsToolsEquipment 2023-08-31 10904420 core:MotorVehicles 2023-08-31 10904420 bus:Director1 2023-08-31 10904420 bus:Director1 2024-08-31 10904420 bus:Director2 2023-08-31 10904420 bus:Director2 2024-08-31 10904420 bus:Director1 2022-08-31 10904420 bus:Director1 2023-08-31 10904420 bus:Director2 2022-08-31 10904420 bus:Director2 2023-08-31 10904420 bus:Director1 2022-09-01 2023-08-31 10904420 bus:Director2 2022-09-01 2023-08-31 10904420 bus:SmallEntities 2023-09-01 2024-08-31 10904420 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10904420 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10904420 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10904420 bus:FullAccounts 2023-09-01 2024-08-31
Company registration number: 10904420
M & B MOTOR SERVICES LTD
31 August 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
M & B MOTOR SERVICES LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
M & B MOTOR SERVICES LTD
DIRECTORS AND OTHER INFORMATION
Directors Mr G P Bailey
Mr G Maw
Company number 10904420
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Unit 2 Grange Business Park
Lancaster Road
Shrewsbury
Shropshire
SY1 3LG
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
M & B MOTOR SERVICES LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF M & B MOTOR SERVICES LTD
YEAR ENDED 31ST AUGUST 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M & B Motor Services Ltd for the year ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of M & B Motor Services Ltd, as a body, in accordance with the terms of our engagement letter dated 29 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of M & B Motor Services Ltd and state those matters that we have agreed to state to the board of directors of M & B Motor Services Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M & B Motor Services Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that M & B Motor Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M & B Motor Services Ltd. You consider that M & B Motor Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of M & B Motor Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
15 May 2025
M & B MOTOR SERVICES LTD
STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 78,248 66,311
_______ _______
78,248 66,311
Current assets
Stocks 500 500
Debtors 6 17,684 12,284
Cash at bank and in hand 82,673 151,674
_______ _______
100,857 164,458
Creditors: amounts falling due
within one year 7 ( 73,276) ( 123,155)
_______ _______
Net current assets 27,581 41,303
_______ _______
Total assets less current liabilities 105,829 107,614
Creditors: amounts falling due
after more than one year 8 ( 41,684) ( 32,061)
Provisions for liabilities ( 14,867) ( 12,599)
_______ _______
Net assets 49,278 62,954
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,178 62,854
_______ _______
Shareholders funds 49,278 62,954
_______ _______
For the year ending 31 August 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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 May 2025 , and are signed on behalf of the board by:
Mr G P Bailey Mr G Maw
Director Director
Company registration number: 10904420
M & B MOTOR SERVICES LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST AUGUST 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 100 56,297 56,397
Profit for the year 36,557 36,557
_______ _______ _______
Total comprehensive income for the year - 36,557 36,557
Dividends paid and payable ( 30,000) ( 30,000)
_______ _______ _______
Total investments by and distributions to owners - ( 30,000) ( 30,000)
_______ _______ _______
At 31 August 2023 and 1 September 2023 100 62,854 62,954
Profit for the year 16,324 16,324
_______ _______ _______
Total comprehensive income for the year - 16,324 16,324
Dividends paid and payable ( 30,000) ( 30,000)
_______ _______ _______
Total investments by and distributions to owners - ( 30,000) ( 30,000)
_______ _______ _______
At 31 August 2024 100 49,178 49,278
_______ _______ _______
M & B MOTOR SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST AUGUST 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 Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
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 value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
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.
Tangible assets
tangible assets are initially recorded at cost, and are 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, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stock is measured at the lower of cost and estimated selling preice less costs to sell.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 48,965 760 53,500 103,225
Additions 18,258 - 30,495 48,753
Disposals - - ( 29,000) ( 29,000)
_______ _______ _______ _______
At 31 August 2024 67,223 760 54,995 122,978
_______ _______ _______ _______
Depreciation
At 1 September 2023 26,592 208 10,115 36,915
Charge for the year 6,904 83 6,922 13,909
Disposals - - ( 6,094) ( 6,094)
_______ _______ _______ _______
At 31 August 2024 33,496 291 10,943 44,730
_______ _______ _______ _______
Carrying amount
At 31 August 2024 33,727 469 44,052 78,248
_______ _______ _______ _______
At 31 August 2023 22,373 552 43,385 66,310
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 14,696 9,549
Other debtors 2,988 2,735
_______ _______
17,684 12,284
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 12,568 11,267
Trade creditors 30,060 38,277
Corporation tax 1,602 2,393
Social security and other taxes 2,108 1,127
Other creditors 26,938 70,091
_______ _______
73,276 123,155
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 41,684 32,061
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr G P Bailey ( 29,204) - 21,671 ( 7,533)
Mr G Maw ( 35,429) - 27,897 ( 7,532)
_______ _______ _______ _______
( 64,633) - 49,568 ( 15,065)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr G P Bailey ( 28,975) ( 229) - ( 29,204)
Mr G Maw ( 35,199) ( 230) - ( 35,429)
_______ _______ _______ _______
( 64,174) ( 459) - ( 64,633)
_______ _______ _______ _______