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REGISTERED NUMBER: SC201280 (Scotland)














Financial Statements

for the Year Ended 31 December 2021

for

M & J Builders Merchants Limited

M & J Builders Merchants Limited (Registered number: SC201280)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

M & J Builders Merchants Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs M M Rodger
M T Rodger
Miss L M Rodger





SECRETARY: Mrs M M Rodger





REGISTERED OFFICE: 150 Lynedoch Street
Greenock
PA15 4AJ





REGISTERED NUMBER: SC201280 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

M & J Builders Merchants Limited (Registered number: SC201280)

Statement of Financial Position
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 848,318 848,739

CURRENT ASSETS
Stocks 618,829 440,384
Debtors 5 999,803 892,549
Cash at bank and in hand 969,656 911,295
2,588,288 2,244,228
CREDITORS
Amounts falling due within one year 6 222,676 389,036
NET CURRENT ASSETS 2,365,612 1,855,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,213,930

2,703,931

PROVISIONS FOR LIABILITIES (39,444 ) (36,259 )

ACCRUALS AND DEFERRED INCOME (56,049 ) (58,074 )
NET ASSETS 3,118,437 2,609,598

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings 3,048,437 2,539,598
SHAREHOLDERS' FUNDS 3,118,437 2,609,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M & J Builders Merchants Limited (Registered number: SC201280)

Statement of Financial Position - continued
31 December 2021


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 Board of Directors and authorised for issue on 14 September 2022 and were signed on its behalf by:





M T Rodger - Director


M & J Builders Merchants Limited (Registered number: SC201280)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

M & J Builders Merchants Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over their expected useful lives as follows:

Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write downs to stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.


M & J Builders Merchants Limited (Registered number: SC201280)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

Government grants
Grants related to expenditure on tangible fixed assets are credited to profit over a period approximating to the lives of qualifying assets. The grants shown in the balance sheet consist of the total grants receivable to date less the amounts so far credited to profit. Revenue grants are credited in the year in which they accrue.

M & J Builders Merchants Limited (Registered number: SC201280)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2021 848,046 260,015 91,733
Additions - - -
At 31 December 2021 848,046 260,015 91,733
DEPRECIATION
At 1 January 2021 172,210 148,359 64,715
Charge for year 16,961 16,811 4,053
At 31 December 2021 189,171 165,170 68,768
NET BOOK VALUE
At 31 December 2021 658,875 94,845 22,965
At 31 December 2020 675,836 111,656 27,018

M & J Builders Merchants Limited (Registered number: SC201280)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 220,751 - 1,420,545
Additions - 47,738 47,738
At 31 December 2021 220,751 47,738 1,468,283
DEPRECIATION
At 1 January 2021 186,522 - 571,806
Charge for year 8,557 1,777 48,159
At 31 December 2021 195,079 1,777 619,965
NET BOOK VALUE
At 31 December 2021 25,672 45,961 848,318
At 31 December 2020 34,229 - 848,739


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 232,865 197,521
Amounts owed by group undertakings 342,105 269,325
Other debtors 424,833 425,703
999,803 892,549

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 107,027 130,116
Taxation and social security 69,101 204,931
Other creditors 46,548 53,989
222,676 389,036

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 59,744 30,000
Between one and five years 226,583 120,000
In more than five years 90,000 120,000
376,327 270,000

M & J Builders Merchants Limited (Registered number: SC201280)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 December 2021 the company owed the directors £36,588 (2020 - £44,138). This is an interest free loan with no fixed repayment date.

9. RELATED PARTY DISCLOSURES

M&J Group Limited, the parent company, owe M & J Builders Merchants Limited £278,403 at 31 December 2021 (2020 - £263,762).This is an interest free loan with no fixed repayment date.

Rodger Property Limited, a company under the control of Mark Rodger and Lucy Rodger, directors, owe the company £397,431 at 31 December 2021 (2020 - £397,431). This is an interest free loan with no fixed repayment date.

South Lanarkshire Building Supplies Limited, a group company, owe the company £63,702 at 31 December 2021 (2020 - £5,563). This is an interest free loan with no fixed repayment date.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M & J Builders Merchants Limited

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 M & J Builders Merchants Limited for the year ended 31 December 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of M & J Builders Merchants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M & J Builders Merchants Limited and state those matters that we have agreed to state to the Board of Directors of M & J Builders Merchants Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M & J Builders Merchants 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 profit of M & J Builders Merchants Limited. You consider that M & J Builders Merchants 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 M & J Builders Merchants 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.






Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG


14 September 2022