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REGISTRAR OF COMPANIES

Registration number: 06559684

MPBM Limited

Unaudited Financial Statements

31 December 2024

 

MPBM Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

3

 

MPBM Limited

(Registration number: 06559684)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

5

4,408

4,408

Current assets

 

Debtors

6

10,366,223

11,024,167

Cash at bank and in hand

 

3,771

466,068

 

10,369,994

11,490,235

Creditors: Amounts falling due within one year

7

(3,300)

(834,209)

Net current assets

 

10,366,694

10,656,026

Total assets less current liabilities

 

10,371,102

10,660,434

Creditors: Amounts falling due after more than one year

7

(10,362,324)

(9,702,039)

Net assets

 

8,778

958,395

Capital and reserves

 

Allotted, called up and fully paid share capital

4,208

4,208

Profit and loss account

4,570

954,187

Total equity

 

8,778

958,395

 

MPBM Limited

(Registration number: 06559684)
Balance Sheet as at 31 December 2024 (continued)

For the financial 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.

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 and 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 21 March 2025 and signed on its behalf by:
 

.........................................

M H Boak

Company secretary and director

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Clint Mill
Cornmarket
PENRITH
CA11 7HW

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Group accounts not prepared

The company and its subsidiaries comprise a small group and therefore no group accounts have been prepared.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

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:

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Asset class

Depreciation method and rate

Plant and equipment

33% straight line basis

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

1,680

1,680

At 31 December 2024

1,680

1,680

Depreciation

At 1 January 2024

1,680

1,680

At 31 December 2024

1,680

1,680

Carrying amount

At 31 December 2024

-

-

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Investments

2024
£

2023
£

Investments in subsidiaries

4,408

4,408

Subsidiaries

£

Cost or valuation

At 1 January 2024

4,408

At 31 December 2024

4,408

Provision

Carrying amount

At 31 December 2024

4,408

At 31 December 2023

4,408

6

Debtors

2024
£

2023
£

Trade debtors

-

190,081

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10,358,605

10,809,309

Other debtors

7,618

24,777

10,366,223

11,024,167

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

433,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

300

395,855

Taxation and social security

 

-

2,354

Other creditors

 

3,000

3,000

 

3,300

834,209

Due after one year

 

Loans and borrowings

8

10,362,324

9,702,039

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

433,000

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

10,362,324

9,702,039

 

MPBM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £3,884,205 (2023 - £6,693,781). The company has provided a charge over the shares of The Paddocks Carlisle Limited (a subsidiary) to a lender to The Paddocks Carlisle Limited. The amount outstanding to the lender at the year end was £3,884,205 (2023 - £6,693,781).

The total amount of financial commitments not included in the balance sheet undertaken on behalf of any subsidiary undertaking of the company is £3,884,205 (2023 - £6,693,781).

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 December 2024
£

M H Boak

Advances

12,695

51,297

(61,205)

-

-

580

3,367

               
         

P Boak

Advances

12,064

51,297

(61,205)

-

-

580

2,736

               
         

 

2023

At 1 January 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 December 2023
£

M H Boak

Advances

16,619

58,846

(12,464)

-

(50,549)

243

12,695

               
         

P Boak

Advances

15,792

55,908

(11,842)

-

(48,025)

231

12,064

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at rates of 2.25% (2023 - 2% and 2.25%) on advances to directors.