MB 1nteriors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08793211 (England and Wales)

MB 1NTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M Bint

REGISTERED OFFICE:

Unit17, Durham Lane

West Moor Park

Armthorpe

Doncaster

South Yorkshire

DN3 3FE

REGISTERED NUMBER:

08793211 (England and Wales)

FIXED ASSETS

Tangible assets

4

203,715

207,520

CURRENT ASSETS

Stocks

21,171

34,830

Debtors

5

307,541

341,238

Cash at bank and in hand

157,747

166,713

486,459

542,781

CREDITORS

Amounts falling due within one year

6

163,713

156,323

NET CURRENT ASSETS

322,746

386,458

TOTAL ASSETS LESS CURRENT LIABILITIES

526,461

593,978

CREDITORS

Amounts falling due after more than one year

7

(12,137

)

(18,383

)

PROVISIONS FOR LIABILITIES

(31,433

)

(30,867

)

NET ASSETS

482,891

544,728

CAPITAL AND RESERVES

Called up share capital

183

183

Share premium

9,819

9,819

Retained earnings

472,889

534,726

SHAREHOLDERS' FUNDS

482,891

544,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 8 January 2020 and were signed by:

M Bint - Director

1.	STATUTORY INFORMATION

MB 1nteriors 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2018

324,678

Additions

36,206

Disposals

(12,700

)

At 30 November 2019

348,184

DEPRECIATION

At 1 December 2018

117,158

Charge for year

38,128

Eliminated on disposal

(10,817

)

At 30 November 2019

144,469

NET BOOK VALUE

At 30 November 2019

203,715

At 30 November 2018

207,520

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 December 2018

113,700

Additions

18,750

Disposals

(12,700

)

At 30 November 2019

119,750

DEPRECIATION

At 1 December 2018

51,662

Charge for year

13,620

Eliminated on disposal

(10,817

)

At 30 November 2019

54,465

NET BOOK VALUE

At 30 November 2019

65,285

At 30 November 2018

62,038

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

258,202

292,908

Other debtors

49,339

48,330

307,541

341,238

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

15,857

17,648

Trade creditors

35,377

30,572

Taxation and social security

100,550

96,618

Other creditors

1,929

1,485

163,713

156,323

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

12,137

18,383