MNB Ventures Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09320771

MNB Ventures Limited

Filleted Unaudited Financial Statements

31 December 2024

MNB Ventures Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	1,705,673	1,468,624
Investments	6	6,920,884	5,770,814
		------------	------------
		8,626,557	7,239,438

Current assets

Debtors	7	293,625	410,125
Cash at bank and in hand		738,276	1,321,652
		------------	------------
		1,031,901	1,731,777

Creditors: amounts falling due within one year	8	177,728		175,696
		------------		------------
Net current assets			854,173	1,556,081
			------------	------------
Total assets less current liabilities			9,480,730	8,795,519

Provisions

Taxation including deferred tax	97,245	30,924
	------------	------------
Net assets	9,383,485	8,764,595
	------------	------------

Capital and reserves

Called up share capital	16	16
Profit and loss account	9,383,469	8,764,579
	------------	------------
Shareholders funds	9,383,485	8,764,595
	------------	------------

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 comprehensive income has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MNB Ventures Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

Mrs N Broughton

Director

Company registration number: 09320771

MNB Ventures Limited

Notes to the Financial Statements

Year ended 31 December 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 1 Picton Lane, Swansea, SA1 4AF, Wales.

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 and represents amounts receivable for services rendered stated net of discounts.

Taxation

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

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:

	Fixtures and fittings	-	20% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 4. Employee numbers The average number of persons employed by the company during the year amounted to 2 (2023: 2 ). 5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 January 2024	1,467,518	10,560	1,478,078
Additions	92,201	193	92,394
Revaluations	145,281	–	145,281
	------------	--------	------------
At 31 December 2024	1,705,000	10,753	1,715,753
	------------	--------	------------
Depreciation
At 1 January 2024	–	9,454	9,454
Charge for the year	–	626	626
	------------	--------	------------
At 31 December 2024	–	10,080	10,080
	------------	--------	------------
Carrying amount
At 31 December 2024	1,705,000	673	1,705,673
	------------	--------	------------
At 31 December 2023	1,467,518	1,106	1,468,624
	------------	--------	------------

Included within the above is investment property as follows:

	£
At 1 January 2024	1,467,518
Additions	92,201
Fair value adjustments	145,281
	------------
At 31 December 2024	1,705,000
	------------

The properties were valued by the directors based on their experience of the local property market and via online valuation websites. 6. Investments

	Shares in participating interests	Other investments other than loans	Other loans	Total
	£	£	£	£
Cost
At 1 January 2024	10	1,162,766	4,608,038	5,770,814
Additions	2,211,000	–	232,806	2,443,806
Disposals	–	( 5,567)	( 1,416,854)	(1,422,421)
Revaluations	–	134,159	–	134,159
Other movements	–	–	( 5,474)	( 5,474)
	------------	------------	------------	------------
At 31 December 2024	2,211,010	1,291,358	3,418,516	6,920,884
	------------	------------	------------	------------
Impairment
At 1 January 2024 and 31 December 2024	–	–	–	–
	------------	------------	------------	------------

Carrying amount
At 31 December 2024	2,211,010	1,291,358	3,418,516	6,920,884
	------------	------------	------------	------------
At 31 December 2023	10	1,162,766	4,608,038	5,770,814
	------------	------------	------------	------------

Investments held at valuation The directors have used the market value of the Listed Investments based on information provided by St James's Place Partnership, a business regulated by the Financial Conduct Authority, at 31 December 2024 and 31 December 2023. In respect of investments held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Shares in participating interests	Other investments other than loans	Other loans	Total
	£	£	£	£
At 31 December 2024
Aggregate cost	2,211,010	1,015,069	3,418,516	6,644,595
Aggregate depreciation	–	–	–	–
	------------	------------	------------	------------
Carrying value	2,211,010	1,015,069	3,418,516

At 31 December 2023
Aggregate cost	10	1,019,926	4,608,038	5,627,974
Aggregate depreciation	–	–	–	–
	----	------------	------------	------------
Carrying value	10	1,019,926	4,608,038	5,627,974
	----	------------	------------	------------

7. Debtors

	2024	2023
	£	£
Trade debtors	27,750	51,750
Other debtors	265,875	358,375
	---------	---------
	293,625	410,125
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	8,426	22,780
Social security and other taxes	4,625	8,625
Other creditors	164,677	144,291
	---------	---------
	177,728	175,696
	---------	---------

6,644,595
	------------	------------	------------	------------