Mansfield Board Machinery Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01365700 (England and Wales)

MANSFIELD BOARD MACHINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K J Dartnell

Mrs R K Dartnell

Mrs N J Bratherton

Mr P Bratherton

REGISTERED OFFICE:

Unit 2

Horsley Road

Northampton

Northamptonshire

NN2 6LJ

REGISTERED NUMBER:

01365700 (England and Wales)

ACCOUNTANTS:

Blencowes

15 High Street

Brackley

Northamptonshire

NN13 7DH

FIXED ASSETS

Tangible assets

4

544,457

585,404

CURRENT ASSETS

Stocks

393,537

363,878

Debtors

5

375,420

347,860

Cash at bank

318,520

312,981

1,087,477

1,024,719

CREDITORS

Amounts falling due within one year

6

404,831

356,799

NET CURRENT ASSETS

682,646

667,920

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,227,103

1,253,324

PROVISIONS FOR LIABILITIES

124,275

127,516

NET ASSETS

1,102,828

1,125,808

CAPITAL AND RESERVES

Called up share capital

8

52,555

Revaluation reserve

9

278,259

Retained earnings

772,014

794,994

SHAREHOLDERS' FUNDS

1,102,828

1,125,808

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

Mrs N J Bratherton - Director

Mr K J Dartnell - Director

1.	STATUTORY INFORMATION

Mansfield Board Machinery 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 presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% per annum on buildings on a straight line basis

Plant and machinery

-

15% per annum on a reducing balance basis

Motor vehicles

-

25% per annum on a reducing balance basis

Computer equipment

-

30% per annum on a reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2025 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 April 2025

352,180

499,920

119,752

37,217

1,009,069

Additions

-

17,825

Disposals

-

(1,440

)

(56,989

)

-

(58,429

)

At 31 March 2026

352,180

498,480

62,763

55,042

968,465

DEPRECIATION

At 1 April 2025

6,327

304,191

79,861

33,286

423,665

Charge for year

2,044

27,238

3,723

2,334

35,339

Eliminated on disposal

-

(1,223

)

(33,773

)

-

(34,996

)

At 31 March 2026

8,371

330,206

49,811

35,620

424,008

NET BOOK VALUE

At 31 March 2026

343,809

168,274

12,952

19,422

544,457

At 31 March 2025

345,853

195,729

39,891

3,931

585,404

Included in cost or valuation of land and buildings is freehold land of £ 250,000 (2025 - £ 250,000 ) which is not depreciated.

Cost or valuation at 31 March 2026 is represented by:

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

Valuation in 1999

41,579

-

41,579

Valuation in 2002

2,500

-

2,500

Valuation in 2005

28,000

-

28,000

Valuation in 2010

14,000

-

14,000

Valuation in 2013

(14,000

)

-

(14,000

)

Valuation in 2016

30,000

-

30,000

Valuation in 2021

51,000

-

51,000

Valuation in 2022

152,180

-

152,180

Cost

46,921

498,480

62,763

55,042

663,206

352,180

498,480

62,763

55,042

968,465

The valuation provided by Drake and Partners LLP dated 7th November 2023 reported a valuation of £350,000 which has not changed since their previous valuation on 26th July 2022.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

337,404

332,004

Other debtors

1,250

VAT

15,707

12,815

Prepayments and accrued income

21,059

1,791

375,420

347,860

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

241,773

200,427

Tax

106,414

119,308

Social security and other taxes

12,085

11,307

Other creditors

3,080

Directors' current accounts

2,496

1,248

Accruals and deferred income

38,983

21,429

404,831

356,799

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

12,792

Between one and five years

25,584

38,376

51,168

8.	CALLED UP SHARE CAPITAL

Shares Issued, called up and fully paid

2026

2025

No

£

No

£

Ordinary Shares of £1

52,500

Ordinary B Shares of £0.50

100

50

100

50

Ordinary C Shares of £0.25

20

5

20

5

9.

RESERVES

During the year dividends of £333,000 were paid to the shareholders. (2025: £350,000).

10.	ULTIMATE CONTROLLING PARTY

The controlling party as at 31st March 2026 was KME Machinery Limited.