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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 |
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MB Consultancy Limited |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 |
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FOR |
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MB Consultancy Limited |
MB Consultancy Limited (Registered number: 05101360) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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MB Consultancy Limited |
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COMPANY INFORMATION |
for the year ended 30 April 2021 |
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Director: |
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Secretary: |
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Registered office: |
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Business address: |
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Registered number: |
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Accountants: |
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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
MB Consultancy Limited (Registered number: 05101360) |
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BALANCE SHEET |
30 April 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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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. |
MB Consultancy Limited (Registered number: 05101360) |
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BALANCE SHEET - continued |
30 April 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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MB Consultancy Limited (Registered number: 05101360) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2021 |
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1. | STATUTORY INFORMATION |
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MB Consultancy Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the director, who believes that the going concern basis of preparation remains appropriate in the company's circumstances. |
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Turnover |
Turnover is measured at the fair value of consideration receivable from regular membership fees. Turnover is recognised by the time stage of memberships as determined in the contract with gym users. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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MB Consultancy Limited (Registered number: 05101360) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MB Consultancy Limited (Registered number: 05101360) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 May 2020 |
and 30 April 2021 |
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Amortisation |
At 1 May 2020 |
and 30 April 2021 |
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Net book value |
At 30 April 2021 |
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At 30 April 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 May 2020 |
and 30 April 2021 |
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Depreciation |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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Net book value |
At 30 April 2021 |
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At 30 April 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security |
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Other creditors |
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MB Consultancy Limited (Registered number: 05101360) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2021 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1.00 | 100 | 100 |
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9. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed Mr M Beaumont (director and shareholder) £109,319. The loan was interest free, unsecured and carries no fixed term of repayment. |