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MFBC LIMITED

Registered Number
SC606884
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

MFBC LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

MCCRACKEN, Euan
MCCRACKEN, Kenneth
MCCRACKEN, Marion
WILLIAMSON, Rhona

Registered Address

2nd Floor The Capital Building
12/13 St. Andrew Square
Edinburgh
EH2 2AF

Registered Number

SC606884 (Scotland)
MFBC LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,3493,569
Investments4475,244450,000
499,593453,569
Current assets
Debtors593,11989,147
Cash at bank and on hand204,166237,441
297,285326,588
Creditors amounts falling due within one year6(73,853)(74,517)
Net current assets (liabilities)223,432252,071
Total assets less current liabilities723,025705,640
Net assets723,025705,640
Capital and reserves
Called up share capital100100
Other reserves6,517-
Profit and loss account716,408705,540
Shareholders' funds8723,025705,640
The financial statements were approved and authorised for issue by the Board of Directors on 4 June 2025, and are signed on its behalf by:
MCCRACKEN, Kenneth
Director
Registered Company No. SC606884
MFBC LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 October 23-7,4637,463
Additions26,6982,19928,897
At 30 September 2426,6989,66236,360
Depreciation and impairment
At 01 October 23-3,8943,894
Charge for year6,6751,4428,117
At 30 September 246,6755,33612,011
Net book value
At 30 September 2420,0234,32624,349
At 30 September 23-3,5693,569
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 October 23450,000450,000
Additions18,72718,727
Revaluations6,5176,517
At 30 September 24475,244475,244
Net book value
At 30 September 24475,244475,244
At 30 September 23450,000450,000

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables51,79843,842
Other debtors41,32145,305
Total93,11989,147
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security60,56363,441
Other creditors2,144673
Accrued liabilities and deferred income11,14610,403
Total73,85374,517
7.Directors advances, credits and guarantees
On 1 October 2023, a Director owed £19,159 to the Company. During this period this Director was advanced £18,500 and repaid £20,000. As at 30 September 2024, this Director owed the Company £17,659. The loan is unsecured, interest free and repayable upon demand. On 1 October 2023, a Director owed £24,646 to the Company. During this period this Director was advanced £16,500 and repaid £25,000. As at 30 September 2024, this Director owed the Company £16,146. The loan is unsecured, interest free and repayable upon demand. On 1 October 2023, a Director owed £1,500 to the Company. During this period this Director was advanced £2,950 and repaid £1,500. As at 30 September 2024, this Director owed the Company £2,950. The loan is unsecured, interest free and repayable upon demand. On 1 October 2023, a Director owed no balance to the Company. During this period this Director was advanced £4,565. As at 30 September 2024, this Director owed the Company £4,565. The loan is unsecured, interest free and repayable upon demand.
8.Fair value reserve
The fair value reserve recognises the unrealised gain upon the fair value movement of a collective investment bond during the year.

£
Transferred in period6,517
At 30 September 246,517