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REGISTERED NUMBER: 07605438 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

M B S BATHROOMS & KITCHENS (UK) LIMITED

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M B S BATHROOMS & KITCHENS (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: P S Mangat
Mrs S K Mangat
P S Mangat
M S Mangat





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07605438 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

STATEMENT OF FINANCIAL POSITION
30 June 2024

30.6.24 30.6.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 80,974 96,998
80,975 96,999

CURRENT ASSETS
Stocks 80,000 100,000
Debtors 6 164,067 167,278
Cash at bank 12,722 79,387
256,789 346,665
CREDITORS
Amounts falling due within one year 7 357,566 345,224
NET CURRENT (LIABILITIES)/ASSETS (100,777 ) 1,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,802

)

98,440

CREDITORS
Amounts falling due after more than one
year

8

(77,013

)

(105,491

)

PROVISIONS FOR LIABILITIES (20,244 ) (18,356 )
NET LIABILITIES (117,059 ) (25,407 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 (117,159 ) (25,507 )
(117,059 ) (25,407 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





P S Mangat - Director


M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

M B S Bathrooms & Kitchens (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. The Statement of Financial Position shows net liabilities, the director is of the opinion that the creditors and financiers will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The goodwill has been fully amortised over its useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% Reducing balance
Computer equipment - 33% Reducing balance
Fixtures and fittings - 15% Reducing balance
Motor vehicles - 25% Reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 3,500
AMORTISATION
At 1 July 2023
and 30 June 2024 3,499
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 299,301
Additions 11,500
Disposals (16,032 )
At 30 June 2024 294,769
DEPRECIATION
At 1 July 2023 202,303
Charge for year 29,766
Eliminated on disposal (18,274 )
At 30 June 2024 213,795
NET BOOK VALUE
At 30 June 2024 80,974
At 30 June 2023 96,998

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 110,550
Additions 11,500
At 30 June 2024 122,050
DEPRECIATION
At 1 July 2023 23,213
Charge for year 34,710
At 30 June 2024 57,923
NET BOOK VALUE
At 30 June 2024 64,127
At 30 June 2023 87,337

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 164,067 167,278

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 21,563 19,685
Hire purchase contracts 14,608 23,779
Trade creditors 233,192 223,809
Taxation and social security 74,530 74,450
Other creditors 13,673 3,501
357,566 345,224

Included within other creditors are accrued expenses of £3,500 (2023: £3,500)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 25,688 47,252
Hire purchase contracts 51,325 58,239
77,013 105,491

M B S BATHROOMS & KITCHENS (UK) LIMITED (REGISTERED NUMBER: 07605438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

9. RESERVES
Retained
earnings
£   

At 1 July 2023 (25,507 )
Deficit for the year (91,652 )
At 30 June 2024 (117,159 )

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £28,549 (over the next 3 years).