Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 09376907 Mr Michael Brown Mrs Anna-Marie Brown Mrs Kirsty Frampton Mr Matthew Frampton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09376907 2023-12-31 09376907 2024-12-31 09376907 2024-01-01 2024-12-31 09376907 frs-core:CurrentFinancialInstruments 2024-12-31 09376907 frs-core:Non-currentFinancialInstruments 2024-12-31 09376907 frs-core:ComputerEquipment 2024-12-31 09376907 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09376907 frs-core:ComputerEquipment 2023-12-31 09376907 frs-core:FurnitureFittings 2024-12-31 09376907 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09376907 frs-core:FurnitureFittings 2023-12-31 09376907 frs-core:MotorVehicles 2024-12-31 09376907 frs-core:MotorVehicles 2024-01-01 2024-12-31 09376907 frs-core:MotorVehicles 2023-12-31 09376907 frs-core:PlantMachinery 2024-12-31 09376907 frs-core:PlantMachinery 2024-01-01 2024-12-31 09376907 frs-core:PlantMachinery 2023-12-31 09376907 frs-core:WithinOneYear 2024-12-31 09376907 frs-core:ShareCapital 2024-12-31 09376907 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09376907 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09376907 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09376907 frs-bus:SmallEntities 2024-01-01 2024-12-31 09376907 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09376907 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09376907 frs-bus:Director1 2024-01-01 2024-12-31 09376907 frs-bus:Director2 2024-01-01 2024-12-31 09376907 frs-bus:Director3 2024-01-01 2024-12-31 09376907 frs-bus:Director4 2024-01-01 2024-12-31 09376907 frs-countries:EnglandWales 2024-01-01 2024-12-31 09376907 2022-12-31 09376907 2023-12-31 09376907 2023-01-01 2023-12-31 09376907 frs-core:CurrentFinancialInstruments 2023-12-31 09376907 frs-core:Non-currentFinancialInstruments 2023-12-31 09376907 frs-core:MotorVehicles 2023-01-01 2023-12-31 09376907 frs-core:WithinOneYear 2023-12-31 09376907 frs-core:ShareCapital 2023-12-31 09376907 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 09376907
MBF Commercial Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09376907
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 42,191 56,808
42,191 56,808
CURRENT ASSETS
Stocks 5 9,625 8,950
Debtors 6 93,419 98,304
Cash at bank and in hand 116,591 324,995
219,635 432,249
Creditors: Amounts Falling Due Within One Year 7 (196,064 ) (385,372 )
NET CURRENT ASSETS (LIABILITIES) 23,571 46,877
TOTAL ASSETS LESS CURRENT LIABILITIES 65,762 103,685
Creditors: Amounts Falling Due After More Than One Year 8 - (39,236 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,548 ) (14,202 )
NET ASSETS 55,214 50,247
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 55,213 50,246
SHAREHOLDERS' FUNDS 55,214 50,247
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Anna-Marie Brown
Director
28 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MBF Commercial Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09376907 . The registered office is Unit J2, Juno Building, Daedalus Park, Daedalus Drive, Lee On The Solent, Hampshire, PO13 9FX.
The presentation currency of the financial statements is the Pound Sterling (£).
Accounts are rounded to the nearest pound.
The accounts represent the company as an individual entity.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 20% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 10,675 123,223 25,821 12,250 171,969
As at 31 December 2024 10,675 123,223 25,821 12,250 171,969
Depreciation
As at 1 January 2024 8,701 79,183 18,213 9,064 115,161
Provided during the period 1,068 11,010 1,902 637 14,617
As at 31 December 2024 9,769 90,193 20,115 9,701 129,778
Net Book Value
As at 31 December 2024 906 33,030 5,706 2,549 42,191
As at 1 January 2024 1,974 44,040 7,608 3,186 56,808
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 9,111
5. Stocks
2024 2023
£ £
Stock 9,625 8,950
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 88,932 70,578
Other debtors 4,487 27,726
93,419 98,304
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,704
Trade creditors 32,138 51,019
Bank loans and overdrafts 6,498 9,705
Other loans 24,989 26,609
Amounts owed to group undertakings 53,364 183,311
Other creditors 5,325 12,225
Taxation and social security 73,750 98,799
196,064 385,372
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 6,507
Other loans - 32,729
- 39,236
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,776
Less: Finance charges allocated to future periods - 72
- 3,704
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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