Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 05375621 Mr Ebrahim Bhattay Mr Suleman Bhattay Mr Yusuf Bhattay iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05375621 2024-03-31 05375621 2025-03-31 05375621 2024-04-01 2025-03-31 05375621 frs-core:CurrentFinancialInstruments 2025-03-31 05375621 frs-core:FurnitureFittings 2024-04-01 2025-03-31 05375621 frs-core:NetGoodwill 2025-03-31 05375621 frs-core:NetGoodwill 2024-04-01 2025-03-31 05375621 frs-core:NetGoodwill 2024-03-31 05375621 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-03-31 05375621 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05375621 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 05375621 frs-core:PlantMachinery 2025-03-31 05375621 frs-core:PlantMachinery 2024-04-01 2025-03-31 05375621 frs-core:PlantMachinery 2024-03-31 05375621 frs-core:ShareCapital 2025-03-31 05375621 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 05375621 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05375621 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 05375621 frs-bus:SmallEntities 2024-04-01 2025-03-31 05375621 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05375621 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05375621 frs-bus:Director1 2024-04-01 2025-03-31 05375621 frs-bus:Director2 2024-04-01 2025-03-31 05375621 frs-bus:Director3 2024-04-01 2025-03-31 05375621 frs-countries:EnglandWales 2024-04-01 2025-03-31 05375621 2023-03-31 05375621 2024-03-31 05375621 2023-04-01 2024-03-31 05375621 frs-core:CurrentFinancialInstruments 2024-03-31 05375621 frs-core:ShareCapital 2024-03-31 05375621 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 05375621
Mibsons (West Bromwich) Limited
Financial Statements
For The Year Ended 31 March 2025
Mibsons Limited
Chartered Certified Accountants
51 Coopers Road
Handsworth Wood
Birmingham
B20 2JU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05375621
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,531,029 8,487
1,531,029 8,487
CURRENT ASSETS
Stocks 6 226,937 244,714
Debtors 7 149,641 827,474
Cash at bank and in hand 1,145,215 1,618,418
1,521,793 2,690,606
Creditors: Amounts Falling Due Within One Year 8 (571,392 ) (695,733 )
NET CURRENT ASSETS (LIABILITIES) 950,401 1,994,873
TOTAL ASSETS LESS CURRENT LIABILITIES 2,481,430 2,003,360
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,062 ) (2,122 )
NET ASSETS 2,480,368 2,001,238
CAPITAL AND RESERVES
Called up share capital 9 6 6
Profit and Loss Account 2,480,362 2,001,232
SHAREHOLDERS' FUNDS 2,480,368 2,001,238
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Yusuf Bhattay
Director
4th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mibsons (West Bromwich) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05375621 . The registered office is 180 Birmingham Road, West Bromwich, West Midlands, B70 6QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Plant & Machinery 20
Fixtures & Fittings 20
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 5 5
Sales, marketing and distribution 23 23
28 28
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 300,000
As at 31 March 2025 300,000
Amortisation
As at 1 April 2024 300,000
As at 31 March 2025 300,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2024 - 213,248 213,248
Additions 1,526,786 - 1,526,786
As at 31 March 2025 1,526,786 213,248 1,740,034
Depreciation
As at 1 April 2024 - 204,761 204,761
Provided during the period - 4,244 4,244
As at 31 March 2025 - 209,005 209,005
Net Book Value
As at 31 March 2025 1,526,786 4,243 1,531,029
As at 1 April 2024 - 8,487 8,487
6. Stocks
2025 2024
£ £
Finished goods 226,937 244,714
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 37,752 118,039
Prepayments and accrued income - 6,092
Other debtors 111,889 703,343
149,641 827,474
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 232,999 366,764
Corporation tax 160,779 146,548
Other taxes and social security 52,337 30,413
Other creditors 11,688 11,688
Accruals and deferred income 30,846 110,504
Directors' loan accounts 82,743 29,816
571,392 695,733
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 6 6
10. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid - 45,000
11. Related Party Transactions
Rent £74,500 (2024: £60,000) is being paid to the shareholders (including the directors) who jointly owned the 2 properties from which the company trades. During the year, one property was purchasedby the company from the shareholders and this is reflected in the Balance sheet.
Page 5