MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
306 Huntingfield Road
London
SW15 5ER

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Going concern

The accounts have been prepared on a Going Concern Basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of VAT.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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
Office equipment	20% straight line
Fixtures and fittings	20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	26,926	26,926
At 31 March 2025	26,926	26,926
Amortisation
At 1 April 2024	26,926	26,926
At 31 March 2025	26,926	26,926
Carrying amount
At 31 March 2025	-	-

MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	20,409	20,409
Additions	2,499	2,499
At 31 March 2025	22,908	22,908
Depreciation
At 1 April 2024	20,216	20,216
Charge for the year	597	597
At 31 March 2025	20,813	20,813
Carrying amount
At 31 March 2025	2,095	2,095
At 31 March 2024	193	193

6

Debtors

Current	2025 £	2024 £
Trade debtors	14,947	18,931
Other debtors	506	3,800
	15,453	22,731

MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	-	2,982
Trade creditors		2,695	1,042
Taxation and social security		19,744	17,840
Accruals and deferred income		1,200	1,200
		23,639	23,064

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	2,982

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	2,982

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	2,982

MB Workspace Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr Michael Bradley
Amount owed to/(from) the director	(3,799)	3,293	-	(506)

2024	At 1 April 2023 £	Advances to director £	At 31 March 2024 £
Mr Michael Bradley
Amount owed to/(from) the director	(3,854)	56	(3,799)

MB Workspace Design Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 March 2025

	2025 £	2024 £
Turnover/revenue	118,589	91,659
Cost of sales
Purchase of raw materials and consumables	(22,028)	(18,348)
Gross profit	96,561	73,311
Distribution costs
Administrative expenses
Audit and accountancy other services	(3,467)	(3,221)
Advertising, promotions and marketing costs	(3,000)	(1,000)
Client entertaining costs	(1,133)	(278)
Other repairs and maintenance costs	(93)	(131)
Depreciation of Fixed assets	(597)	(97)
Amortisation of intangible assets	-	(2,691)
Other staff costs	(455)	-
Salaries and fees, directors	(9,100)	(9,100)
Other staff costs, directors	(1,600)	(1,200)
Staff costs, directors	(10,700)	(10,300)
Travel and subsistence	(6,000)	(5,901)
Bank charges	(202)	(172)
Insurance costs	(626)	(579)
IT and computing	(1,913)	(1,678)
Telecommunications	(1,439)	(1,762)
Printing, postage and stationery	(185)	(70)
Charitable donations	(60)	(20)
Subscriptions	(147)	(177)
Other costs	(1,500)	(1,294)
Other operating income
Other items
Profit on ordinary activities before finance charges and interest	65,044	43,940
Interest expense on bank overdraft, bank loans and similar borrowings	-	(229)
Non-bank interest and similar charges	28	(202)
Profit on ordinary activities before taxation	65,072	43,509
Tax on profit or loss on ordinary activities	(13,290)	(8,338)
Profit for the financial year	51,782	35,171