General Information
MB SUPPLIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13362341, registration address Stoneleigh, Wapping Lane, Beoley, B98 9ER.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The financial statements have been prepared on the basis that the company is a going concern and that the directors will continue to support the company
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
20% Straight Line
|
| Fixtures and Fittings |
20 % Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2024 |
42,582 |
|
3,704 |
|
46,286 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
42,582 |
|
3,704 |
|
46,286 |
| Depreciation |
| At 01 April 2024 |
8,517 |
|
1,716 |
|
10,233 |
| Charge for year |
8,516 |
|
740 |
|
9,256 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2025 |
17,033 |
|
2,456 |
|
19,489 |
| Net book values |
| Closing balance as at 31 March 2025 |
25,549 |
|
1,248 |
|
26,797 |
| Opening balance as at 01 April 2024 |
34,065 |
|
1,988 |
|
36,053 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
24,285 |
|
32,400 |
|
24,285 |
|
32,400 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Other Debtors |
24,916 |
|
15,916 |
| VAT |
21,555 |
|
20,426 |
|
46,471 |
|
36,342 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
11,476 |
|
720 |
| Corporation Tax |
8,346 |
|
5,101 |
| Accrued Expenses |
1,050 |
|
1,050 |
| Other Creditors |
7,457 |
|
7,457 |
| Directors' Current Accounts |
27,397 |
|
55,599 |
|
55,726 |
|
69,927 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Other Creditors |
21,077 |
|
27,343 |
|
21,077 |
|
27,343 |
|
3
|