BALANCE SHEET
Intangible FA Cost - b/fwd 30,351 30,351 30,351
Cost - additions 0 0 0
Cost - disposals 0 0 0
Amortisation - b/fwd 0 0 0
Amortisation - provided in year 0 0 0
Amortisation - disposals 0 0 0
Land & buildings Cost - b/fwd 67,233 67,233 67,233
Cost - additions 0 0 0
Cost - revaluation 0 0 0
Cost - disposals 0 0 0
Depn - b/fwd 0 0 0
Depn - charge for the year 0 0 0
Depn - revaluation 0 0 0
Depn - disposals 0 0 0
Plant & machinery Cost - b/fwd 41,171 41,171 41,171
Cost - additions 0 12,000 12,000 0
Cost - disposals 0 0 0
Depn - b/fwd -15,766 -15,766 -5,766
Depn - provided in year 0 -7,000 -7,000 -10,000
Depn - disposals 0 0 0
Motor vehicles Cost - b/fwd 19,500 19,500 19,500
Cost - additions 0 0 0
Cost - disposals 0 0 0
Depn - b/fwd -19,967 -19,967 -19,967
Depn - provided in year 0 0 0
Depn - disposals 0 0 0
Investments in subsidiaries B/fwd 0 0 0
Additions 0 0 0
Revaluation 0 0 0
Disposals 0 0 0
Other investments - listed B/fwd 0 0 0
Additions 0 0 0
Revaluation 0 0 0
Disposals 0 0 0
Other investments - unlisted B/fwd 0 0 0
Additions 0 0 0
Revaluation 0 0 0
Disposals 0 0 0
Stocks Stocks/WIP 5,000 5,000 5,000
Debtors Trade debtors 80,499 16,296 3,334 100,129 80,499
Due from group undertakings 0 0 0
Other debtors 69 899 230 41,046 -42,244 0 69
Current asset investments Listed 0 0 0
Unlisted 0 0 0
Cash at bank Cash at bank 28,384 122,305 -17,154 -115,156 -4,652 4,375 -2,500 15,602 28,384
Creditors less than 1yr Overdrafts 0 0 0
Bank loans 0 0 0
Finance lease and HP contracts 0 0 0
Trade creditors 231 231 231
Due to group undertakings 0 0 0
Corporation tax -25,615 -12,981 -9,464 -48,060 -25,615
Other taxes and social security 0 0 0
Proposed dividends 0 0 0
Accrued preference dividends 0 0 0
Non-equity preference shares 0 0 0
Other creditors 0 -3,075 2,507 -568 0
Creditors greater than 1yr Bounce Back Loan -23,859 5,324 1,940 -16,595 -23,859
Finance lease and HP contracts 0 0 0
Trade creditors 0 0 0
Due to group undertakings 0 0 0
Non-equity preference shares 0 0 0
Other creditors 0 0 0
Deferred tax B/fwd 0 0 0
Charged to the p/l account 0 0 0
Charged to other comprehensive income 0 0 0
Share capital B/fwd -300 -300 -300
Shares issued 0 0 0
Shares redeemed 0 0 0
Share premium B/fwd 0 0 0
On shares issued 0 0 0
Expenses of issue 0 0 0
Revaluation reserve B/fwd 0 0 0
Gain on revaluation of land and buildings 0 0 0
Deferred taxation arising on the revaluation of land and buildings 0 0 0
Profit and loss account B/fwd -186,931 -186,931 -196,845
Equity dividends 0 20,644 16,673 37,317 48,000
0 0 0
0 0 0
0 0 0
0 0 0
Totals (all should be zero) 0 0 0 230 -3,136 0 0 4,375 0 0 2,839 0 28,673 -32,981 0 0 0
Registered number
05067872
MJ CEILINGS AND PARTITIONS LIMITED
Filleted Accounts
31 March 2023
MJ CEILINGS AND PARTITIONS LIMITED
Registered number: 05067872
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 30,351 30,351
Tangible assets 4 97,171 92,171
127,522 122,522
Current assets
Stocks 5,000 5,000
Debtors 5 100,129 80,568
Cash at bank and in hand 15,602 28,384
120,731 113,952
Creditors: amounts falling due within one year 6 (48,397) (25,384)
Net current assets 72,334 88,568
Total assets less current liabilities 199,856 211,090
Creditors: amounts falling due after more than one year 7 (16,595) (23,859)
Net assets 183,261 187,231
Capital and reserves
Called up share capital 300 300
Profit and loss account 182,961 186,931
Shareholders' funds 183,261 187,231
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Darren Morgan
Director
Approved by the board on 27 July 2023
MJ CEILINGS AND PARTITIONS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recog
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 30,351
At 31 March 2023 30,351
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 30,351
At 31 March 2022 30,351
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 67,233 41,171 19,500 127,904
At 31 March 2023 67,233 53,171 19,500 139,904
Depreciation
At 1 April 2022 - 15,766 19,967 35,733
Charge for the year - 7,000 - 7,000
At 31 March 2023 - 22,766 19,967 42,733
Net book value
At 31 March 2023 67,233 30,405 (467) 97,171
At 31 March 2022 67,233 25,405 (467) 92,171
5 Debtors 2023 2022
£ £
Trade debtors 100,129 80,499
Other debtors - 69
100,129 80,568
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors (231) (231)
Taxation and social security costs 48,060 25,615
Other creditors 568 -
48,397 25,384
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,595 23,859
8 Other information
MJ CEILINGS AND PARTITIONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
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