MB 1nteriors Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08793211 (England and Wales)

MB 1NTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M Bint

REGISTERED OFFICE:

Unit18, Durham Lane

Armthorpe

Doncaster

South Yorkshire

DN3 3FE

REGISTERED NUMBER:

08793211 (England and Wales)

FIXED ASSETS

Tangible assets

4

155,450

217,555

CURRENT ASSETS

Stocks

44,837

14,317

Debtors

5

166,280

271,294

Cash at bank and in hand

110,658

145,613

321,775

431,224

CREDITORS

Amounts falling due within one year

6

145,386

167,413

NET CURRENT ASSETS

176,389

263,811

TOTAL ASSETS LESS CURRENT LIABILITIES

331,839

481,366

CREDITORS

Amounts falling due after more than one year

7

(27,464

)

(57,042

)

PROVISIONS FOR LIABILITIES

(29,562

)

(38,932

)

NET ASSETS

274,813

385,392

CAPITAL AND RESERVES

Called up share capital

183

183

Share premium

9,819

9,819

Retained earnings

264,811

375,390

SHAREHOLDERS' FUNDS

274,813

385,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 and authorised for issue on 15 May 2023 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 finance lease, over the lease term whichever is the shorter.

Plant and machinery - 15% Reducing Balance

Office equipment - 15% Reducing Balance

Fixtures and fittings - 15 % Reducing Balance

Motor vehicles - 25% Reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 (2021 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2021

445,472

Additions

466

Disposals

(57,490

)

At 30 November 2022

388,448

DEPRECIATION

At 1 December 2021

227,917

Charge for year

28,811

Eliminated on disposal

(23,730

)

At 30 November 2022

232,998

NET BOOK VALUE

At 30 November 2022

155,450

At 30 November 2021

217,555

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

Plant and

machinery

etc

£

COST

At 1 December 2021

76,240

Disposals

(57,490

)

At 30 November 2022

18,750

DEPRECIATION

At 1 December 2021

28,146

Charge for year

7,907

Eliminated on disposal

(23,730

)

At 30 November 2022

12,323

NET BOOK VALUE

At 30 November 2022

6,427

At 30 November 2021

48,094

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

83,958

136,422

Amounts owed by group undertakings

72,464

30,004

Other debtors

9,858

104,868

166,280

271,294

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 8)

2,391

11,771

Trade creditors

64,322

40,584

Taxation and social security

66,205

103,068

Other creditors

2,468

1,990

145,386

167,413

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

26,667

36,667

Hire purchase contracts (see note 8)

797

20,375

27,464

57,042

8.	LEASING AGREEMENTS

The company had total commitments at the balance sheet date of £11,272 (2021 - £21,677).

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

3,188

32,146

The hire purchase creditor is secured on the assets to which they relate.