REGISTERED NUMBER: 07006578 (England and Wales)

MBFIB LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Brett

D G Brett

REGISTERED OFFICE:

C/o Future Inns Cardiff LP

Hemingway Road

Cardiff

South Glamorgan

CF10 4AU

REGISTERED NUMBER:

07006578 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Investments

4

1,172,135

1,172,135

CURRENT ASSETS

Debtors

5

977,931

996,110

Cash at bank

1,066,598

944,632

2,044,529

1,940,742

CREDITORS

Amounts falling due within one year

6

(190,999

)

(173,041

)

NET CURRENT ASSETS

1,853,530

1,767,701

TOTAL ASSETS LESS CURRENT LIABILITIES

3,025,665

2,939,836

CREDITORS

Amounts falling due after more than one year

7

(1,454,894

)

(1,419,409

)

NET ASSETS

1,570,771

1,520,427

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

1,570,770

1,520,426

SHAREHOLDERS' FUNDS

1,570,771

1,520,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2026 and were signed on its behalf by:

M J Brett - Director

1.	STATUTORY INFORMATION

MBFIB Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover

The company recognises revenue arising from non-discretionary net gains distributed from Future Inns, Bristol General Partner, Limited Partnership when it falls due for payment.

It also recognises discretionary gains distributed from other interests when paid.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Valuation of investments

Investments held as fixed assets are measured at cost less accumulated impairment. Income from investments is recognised when declared by the limited partnership.

Financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2025

and 31 March 2026

1,172,135

NET BOOK VALUE

At 31 March 2026

1,172,135

At 31 March 2025

1,172,135

Other investments represent 1,933,333 limited partnership interests of Future Inns, Bristol, Limited Partnership and 966,667 limited partnership interests of Future Inns, Cardiff, Limited Partnership acquired during 2013.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

977,931

996,110

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Corporation tax

34,657

15,699

Director's loan account

153,843

153,843

Accounts payable and accruals

2,499

3,499

190,999

173,041

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other creditors

1,454,894

1,419,409

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY TRANSACTIONS

On 19 November 2013 a company with shared ownership, loaned £1,172,135 to the company and charged interest on this balance at 2.5% per annum leading to a charge for the year ended 31 March 2026 of £35,485 (2025 - £34,620). At the period end, £1,454,894 (2025 - £1,419,409) was due to the related company and is included within creditors greater than one year.

This loan, which was formerly payable to 2475812 Nova Scotia Limited was transferred by 2475812 Nova Scotia Limited to MBFI Holdings Limited, effective 31 January 2023. The terms of the loan remain unchanged, being unsecured, with no specific terms of repayment, bearing interest at 2.5%, accrued annually.