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REGISTERED NUMBER: SC438292 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

M & B JOINERS LIMITED

M & B JOINERS LIMITED (REGISTERED NUMBER: SC438292)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & B JOINERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: T B Sharpe
M Sharpe





REGISTERED OFFICE: Clyde Office, 2nd Floor
48 West George Street
Glasgow
G2 1BP





REGISTERED NUMBER: SC438292 (Scotland)

M & B JOINERS LIMITED (REGISTERED NUMBER: SC438292)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 29,728 17,835

CURRENT ASSETS
Debtors 4 1,028,029 837,168
Cash at bank and in hand 1,071,678 1,143,100
2,099,707 1,980,268
CREDITORS
Amounts falling due within one year 5 125,966 135,825
NET CURRENT ASSETS 1,973,741 1,844,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,003,469

1,862,278

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,003,369 1,862,178
2,003,469 1,862,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 JOINERS LIMITED (REGISTERED NUMBER: SC438292)

BALANCE SHEET - continued
31 DECEMBER 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 17 July 2025 and were signed on its behalf by:





T B Sharpe - Director


M & B JOINERS LIMITED (REGISTERED NUMBER: SC438292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments 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 ordinary shares.

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 Income and Retained Earnings.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

M & B JOINERS LIMITED (REGISTERED NUMBER: SC438292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 67,608 53,519 121,127
Additions - 17,950 17,950
At 31 December 2024 67,608 71,469 139,077
DEPRECIATION
At 1 January 2024 54,002 49,290 103,292
Charge for year 2,721 3,336 6,057
At 31 December 2024 56,723 52,626 109,349
NET BOOK VALUE
At 31 December 2024 10,885 18,843 29,728
At 31 December 2023 13,606 4,229 17,835

4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by associates 837,253 625,520
Directors' current accounts 59,566 59,660
Tax 102,509 125,601
VAT 6,366 4,359
Prepayments 2,200 1,893
1,007,894 817,033

Amounts falling due after more than one year:
Corporation tax recoverable 20,135 20,135

Aggregate amounts 1,028,029 837,168

M & B JOINERS LIMITED (REGISTERED NUMBER: SC438292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,804 1,297
Tax 114,392 120,991
Accrued expenses 9,770 13,537
125,966 135,825

6. RELATED PARTY DISCLOSURES

During the period the company has operated loan accounts with associated company T Sharpe & Sons Properties Ltd. The amount due from the associated company at the period end was £837.253 (2023 - £625,520 ). These loans are unsecured, interest free and repayable on demand.