M & B Oils Limited - Filleted accounts

Registered number

05024559

M & B Oils Limited

Unaudited Filleted Accounts

30 April 2025

M & B Oils Limited
Registered number:		05024559
Balance Sheet
as at 30 April 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		-			1,050
Tangible assets	4		12,304			16,410
			12,304			17,460

Current assets
Stocks		25,000			25,000
Debtors	5	878,948			890,162
Cash at bank and in hand		109,655			164,592
		1,013,603			1,079,754

Creditors: amounts falling due within one year	6	(883,425)			(872,579)

Net current assets			130,178			207,175

Total assets less current liabilities			142,482			224,635

Creditors: amounts falling due after more than one year	7		(833)			(10,833)

Provisions for liabilities			(2,338)			(3,118)


Net assets			139,311			210,684

Capital and reserves
Called up share capital			100			100
Profit and loss account			139,211			210,584

Shareholders' funds			139,311			210,684

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
			-
…......................................................
Mr N Laity
Director
Approved by the board on 10 November 2025

M & B Oils Limited
Notes to the Accounts
for the year ended 30 April 2025


1	Accounting policies

	Basis of preparation
	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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance basis
	Fixtures, fittings, tools and equipment			25% reducing balance basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					10		10


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 May 2024							21,000
	At 30 April 2025							21,000

	Amortisation
	At 1 May 2024							19,950
	Provided during the year							1,050
	At 30 April 2025							21,000

	Net book value
	At 30 April 2025							-
	At 30 April 2024							1,050

	Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.


4	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 May 2024			42,657		62,971		105,628
	At 30 April 2025			42,657		62,971		105,628

	Depreciation
	At 1 May 2024			36,747		52,471		89,218
	Charge for the year			1,480		2,626		4,106
	At 30 April 2025			38,227		55,097		93,324

	Net book value
	At 30 April 2025			4,430		7,874		12,304
	At 30 April 2024			5,910		10,500		16,410


5	Debtors					2025		2024
£							£

	Trade debtors					590,824		554,848
	Provision for bad debt					(50,000)		(50,000)
	Directors' loan accounts					251,315		298,505
	Other debtors					86,809		86,809
						878,948		890,162


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					10,000		10,000
	Obligations under finance lease and hire purchase contracts					-		1,407
	Trade creditors					395,833		363,527
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					45,000		45,000
	Taxation and social security costs					329,343		330,414
	Other creditors					103,249		122,231
						883,425		872,579


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					833		10,833


8	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					-		6,890

	The bank loan is secured on one of the director's home.


9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr N J Laity
	Director loan	93,881		23,583		(33,510)		83,954

	Mr S J Laity
	Director loan	57,311		9,555		(50,501)		16,365

	Mr T J Laity
	Director loan	147,313		3,683				150,996

		298,505		36,821		(84,011)		251,315

	Interest is charged on loans to directors at the HM Revenue and Customs average official rate. There is no fixed repayment date and the loans are payable on demand.


10	Controlling party

	In the opinion of the directors, the company is controlled by the directors listed on page one who own 100% of the issued shares of the company.


11	Other information
	M & B Oils Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Mardle Way Industrial Estate
	Mardle Way
	Buckfastleigh
	TQ11 0AG