MB PROJECT SUPPORT LIMITED

MB PROJECT SUPPORT LIMITED

MB PROJECT SUPPORT LIMITED - Company Information

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MB PROJECT SUPPORT LIMITED

Company Registration Number:
07478971 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

MB PROJECT SUPPORT LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

MB PROJECT SUPPORT LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 53,712 8,476
Total fixed assets: 53,712 8,476
Current assets
Debtors: 4 87,910 111,409
Cash at bank and in hand: 151,490 44,403
Total current assets: 239,400 155,812
Creditors: amounts falling due within one year: 5 (60,786) (34,394)
Net current assets (liabilities): 178,614 121,418
Total assets less current liabilities: 232,326 129,894
Creditors: amounts falling due after more than one year: 6 (44,166)
Provision for liabilities: (1,288) (1,610)
Total net assets (liabilities): 186,872 128,284
Capital and reserves
Called up share capital: 101 101
Profit and loss account: 186,771 128,183
Shareholders funds: 186,872 128,284

The notes form part of these financial statements

MB PROJECT SUPPORT LIMITED

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 September 2021
and signed on behalf of the board by:

Name: M Boldetti
Status: Director

The notes form part of these financial statements

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:Freehold Property 2% costMotor Vehicles 20% reducing balanceThe company's freehold property has not been depreciated as the purpose of its purchase is yet to be fulfilled and it will be depreciated at 2% per annum on a straight line basis on completion.

Other accounting policies

GOVERNMENT GRANTSGovernment grants relating to furloughing of employees under Covid-19 legislation are treated as revenue grants and credited to income, so as to match them with the expenditure to which they relate. They are included in other income in the profit and loss in the period in which they are received.

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 1 1

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Tangible Assets

Total
Cost £
At 01 January 2020 11,995
Additions 46,931
At 31 December 2020 58,926
Depreciation
At 01 January 2020 3,519
Charge for year 1,695
At 31 December 2020 5,214
Net book value
At 31 December 2020 53,712
At 31 December 2019 8,476

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Debtors

2020 2019
££
Debtors due after more than one year: 0 0

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

5. Creditors: amounts falling due within one year note

.......................................................2020...........................2019 Bank Borrowings.......................5834...............................0 Tax and Social Security...........53882........................33324 Other Creditors...........................1070............................1070

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

6. Creditors: amounts falling due after more than one year note

........................................................2020...........................2019 Bank Borrowings.......................44166.............................0

MB PROJECT SUPPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

7. Loans to directors

Name of director receiving advance or credit: M Boldetti
Description of the loan: Director's Current Account
£
Balance at 01 January 2020 80,541
Advances or credits made: 76,023
Advances or credits repaid: 80,541
Balance at 31 December 2020 76,023

Beneficial loan interest of £3696 (2019-£1870) has been charged at the official rate on the overdrawn balance.