32 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 50,000 22,500 5,000 27,500 22,500 27,500 xbrli:pure xbrli:shares iso4217:GBP 11586762 2023-10-01 2024-09-30 11586762 2024-09-30 11586762 2023-09-30 11586762 2022-10-01 2023-09-30 11586762 2023-09-30 11586762 2022-09-30 11586762 core:NetGoodwill 2023-10-01 2024-09-30 11586762 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 11586762 core:MotorVehicles 2023-10-01 2024-09-30 11586762 bus:Director1 2023-10-01 2024-09-30 11586762 core:NetGoodwill 2023-09-30 11586762 core:NetGoodwill 2024-09-30 11586762 core:LandBuildings 2023-09-30 11586762 core:MotorVehicles 2023-09-30 11586762 core:LandBuildings 2024-09-30 11586762 core:MotorVehicles 2024-09-30 11586762 core:LandBuildings 2023-10-01 2024-09-30 11586762 core:WithinOneYear 2024-09-30 11586762 core:WithinOneYear 2023-09-30 11586762 core:AfterOneYear 2024-09-30 11586762 core:AfterOneYear 2023-09-30 11586762 core:ShareCapital 2024-09-30 11586762 core:ShareCapital 2023-09-30 11586762 core:RetainedEarningsAccumulatedLosses 2024-09-30 11586762 core:RetainedEarningsAccumulatedLosses 2023-09-30 11586762 core:NetGoodwill 2023-09-30 11586762 core:LandBuildings 2023-09-30 11586762 core:MotorVehicles 2023-09-30 11586762 bus:Director1 2023-09-30 11586762 bus:Director1 2024-09-30 11586762 bus:Director1 2022-09-30 11586762 bus:Director1 2023-09-30 11586762 bus:SmallEntities 2023-10-01 2024-09-30 11586762 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 11586762 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11586762 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11586762 bus:FullAccounts 2023-10-01 2024-09-30 11586762 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 11586762 core:FurnitureFittingsToolsEquipment 2023-09-30 11586762 core:FurnitureFittingsToolsEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 11586762
M&B WAREHOUSE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2024
M&B WAREHOUSE LTD
STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
FIXED ASSETS
Intangible assets
5
22,500
27,500
Tangible assets
6
566,511
583,105
---------
---------
589,011
610,605
CURRENT ASSETS
Stocks
399,560
400,000
Debtors
7
101,769
98,849
Cash at bank and in hand
366,178
358,681
---------
---------
867,507
857,530
CREDITORS: amounts falling due within one year
8
466,932
489,513
---------
---------
NET CURRENT ASSETS
400,575
368,017
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
989,586
978,622
CREDITORS: amounts falling due after more than one year
9
441,882
466,680
---------
---------
NET ASSETS
547,704
511,942
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
547,604
511,842
---------
---------
SHAREHOLDERS FUNDS
547,704
511,942
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M&B WAREHOUSE LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
Mr M Waxman
Director
Company registration number: 11586762
M&B WAREHOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 463-465 High Street, Lincoln, LN5 8JB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for 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 reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 32 (2023: 30 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
50,000
--------
Amortisation
At 1 October 2023
22,500
Charge for the year
5,000
--------
At 30 September 2024
27,500
--------
Carrying amount
At 30 September 2024
22,500
--------
At 30 September 2023
27,500
--------
6. TANGIBLE ASSETS
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 October 2023
560,662
60,770
34,169
655,601
Additions
7,782
7,782
---------
--------
--------
---------
At 30 September 2024
560,662
60,770
41,951
663,383
---------
--------
--------
---------
Depreciation
At 1 October 2023
22,426
30,063
20,007
72,496
Charge for the year
11,213
7,677
5,486
24,376
---------
--------
--------
---------
At 30 September 2024
33,639
37,740
25,493
96,872
---------
--------
--------
---------
Carrying amount
At 30 September 2024
527,023
23,030
16,458
566,511
---------
--------
--------
---------
At 30 September 2023
538,236
30,707
14,162
583,105
---------
--------
--------
---------
7. DEBTORS
2024
2023
£
£
Trade debtors
45,299
48,849
Other debtors
56,470
50,000
---------
--------
101,769
98,849
---------
--------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,200
34,043
Trade creditors
314,034
352,540
Corporation tax
21,164
17,702
Social security and other taxes
102,890
77,557
Other creditors
7,644
7,671
---------
---------
466,932
489,513
---------
---------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
430,792
448,891
Other creditors
11,090
17,789
---------
---------
441,882
466,680
---------
---------
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr M Waxman
( 530)
7,000
6,470
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr M Waxman
( 530)
( 530)
----
----
----