MB Commodity Corner Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08300971 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

MB COMMODITY CORNER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTOR:

Ms M R Bengali

REGISTERED OFFICE:

2 Church Street

Brighton

East Sussex

BN1 1UJ

BUSINESS ADDRESS:

Sunset Mall Residence, Apt F02

Al Nessnass Street

Jumeira 3

Dubai

REGISTERED NUMBER:

08300971 (England and Wales)

ACCOUNTANTS:

Chambers & Co Accountants LLP

2 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

4

692

1,037

CURRENT ASSETS

Debtors

5

17,041

11,304

Cash at bank

78

368

17,119

11,672

CREDITORS

Amounts falling due within one year

6

92,126

69,412

NET CURRENT LIABILITIES

(75,007

)

(57,740

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(74,315

)

(56,703

)

ACCRUALS AND DEFERRED INCOME

540

539

NET LIABILITIES

(74,855

)

(57,242

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8

(74,856

)

(57,243

)

SHAREHOLDERS' FUNDS

(74,855

)

(57,242

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 19 December 2019 and were signed by:

Ms M R Bengali - Director

1.	STATUTORY INFORMATION

MB Commodity Corner 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on reducing balance

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

3,452

DEPRECIATION

At 1 April 2018

2,415

Charge for year

345

At 31 March 2019

2,760

NET BOOK VALUE

At 31 March 2019

692

At 31 March 2018

1,037

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Deferred tax asset

17,041

11,304

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Directors' loan accounts

92,126

69,412

7.	DEFERRED TAX

£

Balance at 1 April 2018

(11,304

)

Accelerated capital allowances

(66

)

Unrelieved tax loss c/fwd

(5,671

)

Balance at 31 March 2019

(17,041

)

8.

RESERVES

Retained

earnings

£

At 1 April 2018

(57,243

)

Deficit for the year

(17,613

)

At 31 March 2019

(74,856

)

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of MB Commodity Corner Limited for the year ended 31 March 2019 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of MB Commodity Corner Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MB Commodity Corner Limited and state those matters that we have agreed to state to the director of MB Commodity Corner Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that MB Commodity Corner Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MB Commodity Corner Limited. You consider that MB Commodity Corner Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MB Commodity Corner Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chambers & Co Accountants LLP

2 Church Street

Brighton

East Sussex

BN1 1UJ

Date: .............................................