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Company No: 11160069 (England and Wales)

# UNIT 2 MBC LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

UNIT 2 MBC LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

UNIT 2 MBC LIMITED

## BALANCE SHEET

As at 31 January 2025
UNIT 2 MBC LIMITED

## BALANCE SHEET (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 329,719 |  | 336,690
|  | 329,719 |  | 336,690
Current assets |  |  |  |
Stocks | 4 | 111,547 |  | 16,000
Debtors | 5 | 58,772 |  | 143,162
Cash at bank and in hand |  | 4,965 |  | 17,855
|  | 175,284 |  | 177,017
Creditors: amounts falling due within one year | 6 | ( 181,482) |  | ( 186,313)
Net current liabilities |  | (6,198) |  | (9,296)
Total assets less current liabilities |  | 323,521 |  | 327,394
Creditors: amounts falling due after more than one year | 7 | ( 247,834) |  | ( 221,024)
Net assets |  | 75,687 |  | 106,370
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Fair value reserve |  | 64,492 |  | 64,492
Profit and loss account |  | 11,095 |  | 41,778
Total shareholder's funds |  | 75,687 |  | 106,370

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Unit 2 MBC Limited (registered number: 11160069) were approved and authorised for issue by the Director on 06 July 2026. They were signed on its behalf by:

Mr D J Garnsworthy Director |

UNIT 2 MBC LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
UNIT 2 MBC LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Unit 2 MBC Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Units 33 And 35 Mereside, Osprey Quay, Portland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Rental income comprises the rental amounts due on the investment properties held in the period. Turnover is shown net of returns, rebates and discounts.
The company recognises revenue when:
the amount of rent can be reliably measured;
It is confirmed that the rent is due to the entity.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property | not depreciated
Vehicles | 20 % reducing balance
Office equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Investment property |  | Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 February 2024 | 300,000 |  | 45,863 |  | 0 |  | 345,863
Additions | 0 |  | 0 |  | 423 |  | 423
At 31 January 2025 | 300,000 |  | 45,863 |  | 423 |  | 346,286
Accumulated depreciation |  |  |  |  |  |  |
At 01 February 2024 | 0 |  | 9,173 |  | 0 |  | 9,173
Charge for the financial year | 0 |  | 7,338 |  | 56 |  | 7,394
At 31 January 2025 | 0 |  | 16,511 |  | 56 |  | 16,567
Net book value |  |  |  |  |  |  |
At 31 January 2025 | 300,000 |  | 29,352 |  | 367 |  | 329,719
At 31 January 2024 | 300,000 |  | 36,690 |  | 0 |  | 336,690

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 111,547 |  | 16,000

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 2,689 |  | 13,700
Amounts owed by associates | 41,582 |  | 129,462
VAT recoverable | 14,501 |  | 0
| 58,772 |  | 143,162

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 19,565 |  | 11,827
Trade creditors | 14,930 |  | 14,109
Amounts owed to director | 102,798 |  | 128,437
Accruals | 3,908 |  | 3,926
Deferred tax liability | 21,984 |  | 21,497
Taxation and social security | 2,437 |  | 1,545
Obligations under finance leases and hire purchase contracts (secured) | 15,860 |  | 4,972
| 181,482 |  | 186,313

A fixed charge is held over the property owned by Unit 2 MBC Limited

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 165,419 |  | 185,520
Obligations under finance leases and hire purchase contracts (secured) | 82,415 |  | 35,504
| 247,834 |  | 221,024