Registration number: 08176691

MBS IT Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

MBS IT Ltd

(Registration number: 08176691)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,011	339
Current assets
Stocks		1,215	1,500
Debtors	5	38,902	36,796
Cash at bank and in hand		97,580	140,232
		137,697	178,528
Creditors: Amounts falling due within one year	6	(82,163)	(104,162)
Net current assets		55,534	74,366
Total assets less current liabilities		58,545	74,705
Creditors: Amounts falling due after more than one year	6	(4,999)	(15,000)
Net assets		53,546	59,705
Capital and reserves
Called up share capital		200	200
Retained earnings		53,346	59,505
Shareholders' funds		53,546	59,705

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 2 July 2025 and signed on its behalf by:
 

......................................... Mr I G Carroll Director

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alexandra Suite
Mornflake Stadium
Gresty Road
Crewe
Cheshire
CW2 6EB

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and computer equipment	25% reducing balance/straight line over 3 years
Plant and equipment	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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Fixtures, fittings and computer equipment  £	Plant and equipment £	Total £
Cost or valuation
At 1 January 2024	9,549	5,000	14,549
Additions	2,910	-	2,910
At 31 December 2024	12,459	5,000	17,459
Depreciation
At 1 January 2024	9,421	4,789	14,210
Charge for the year	186	52	238
At 31 December 2024	9,607	4,841	14,448
Carrying amount
At 31 December 2024	2,852	159	3,011
At 31 December 2023	128	211	339

5

Debtors

Current	2024 £	2023 £
Trade debtors	37,501	34,850
Prepayments	1,401	1,415
Other debtors	-	531
	38,902	36,796

MBS IT Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

		2024 £	2023 £
Due within one year
Bank loan		10,000	10,000
Trade creditors		213	570
Taxation and social security		21,364	12,614
Other creditors		50,586	80,978
		82,163	104,162

Creditors: amounts falling due after more than one year

		2024 £	2023 £
Due after one year
Bank loan		4,999	15,000