MBL (BUSINESS AND TAX ADVISERS) LTD

Company Registration Number:
04586288 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 April 2023

End date: 30 September 2024

MBL (BUSINESS AND TAX ADVISERS) LTD

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

MBL (BUSINESS AND TAX ADVISERS) LTD

Balance sheet

As at 30 September 2024


Notes

18 months to 30 September 2024

2023


£

£
Fixed assets
Intangible assets: 3 0 145,967
Tangible assets: 4 0 2,013
Total fixed assets: 0 147,980
Current assets
Stocks: 0 84,197
Debtors:   444,738 109,705
Cash at bank and in hand: 44,424 129,633
Total current assets: 489,162 323,535
Creditors: amounts falling due within one year: 5 (89,626) (242,766)
Net current assets (liabilities): 399,536 80,769
Total assets less current liabilities: 399,536 228,749
Creditors: amounts falling due after more than one year: 6 0 (24,167)
Provision for liabilities: 0 (503)
Total net assets (liabilities): 399,536 204,079
Capital and reserves
Called up share capital: 21 21
Share premium account: 202,948 202,948
Other reserves: 100 100
Profit and loss account: 196,467 1,010
Shareholders funds: 399,536 204,079

The notes form part of these financial statements

MBL (BUSINESS AND TAX ADVISERS) LTD

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 June 2025
and signed on behalf of the board by:

Name: M J Bulcock
Status: Director

The notes form part of these financial statements

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold land and buildings - straight line over 5 years Plant and equipment - straight line over 5 years Fixtures and fittings - straight line over 5 years Motor vehicles - straight line over 4 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Other accounting policies

Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. 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 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 of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

18 months to 30 September 2024 2023
Average number of employees during the period 3 10

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 1,060,481
Disposals (1,060,481)
At 30 September 2024 0
Amortisation
At 01 April 2023 914,514
Charge for year 11,923
On disposals (926,437)
At 30 September 2024 0
Net book value
At 30 September 2024 0
At 31 March 2023 145,967

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 144,865
Disposals (144,865)
At 30 September 2024 0
Depreciation
At 01 April 2023 142,852
Charge for year 1,140
On disposals (143,992)
At 30 September 2024 0
Net book value
At 30 September 2024 0
At 31 March 2023 2,013

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due within one year note

Included in bank loans is a unsecured bank loan amounting to £0 (2023 - £10,000)

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due after more than one year note

Included in bank loans and overdrafts is a unsecured bank loan amounting to £0 (202 - £24,167).

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

7. Financial commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases amounting to £18,984 (2023 - £40,782)

MBL (BUSINESS AND TAX ADVISERS) LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

8. Related party transactions

Name of the related party: M J Bulcock
Relationship:
Director
Description of the Transaction: Monies loaned to the company
£
Balance at 01 April 2023 22,628
Balance at 30 September 2024 7,789