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REGISTERED NUMBER: 13170992 (England and Wales)










MJ DIXY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






MJ DIXY LTD (REGISTERED NUMBER: 13170992)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MJ DIXY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr M Jamshed





REGISTERED OFFICE: 513 Foleshill Road
Coventry
CV6 5AU





REGISTERED NUMBER: 13170992 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

MJ DIXY LTD (REGISTERED NUMBER: 13170992)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 144,000 152,000
Tangible assets 5 4,781 6,375
148,781 158,375

CURRENT ASSETS
Stocks 4,275 3,785
Debtors 6 13,991 15,491
Cash at bank and in hand 57,681 37,982
75,947 57,258
CREDITORS
Amounts falling due within one year 7 182,517 192,679
NET CURRENT LIABILITIES (106,570 ) (135,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,211

22,954

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 42,111 22,854
42,211 22,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 22 November 2023 and were signed by:



Mr M Jamshed - Director


MJ DIXY LTD (REGISTERED NUMBER: 13170992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Mj Dixy Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

MJ DIXY LTD (REGISTERED NUMBER: 13170992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 160,000
AMORTISATION
At 1 March 2022 8,000
Charge for year 8,000
At 28 February 2023 16,000
NET BOOK VALUE
At 28 February 2023 144,000
At 28 February 2022 152,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 7,500
DEPRECIATION
At 1 March 2022 1,125
Charge for year 1,594
At 28 February 2023 2,719
NET BOOK VALUE
At 28 February 2023 4,781
At 28 February 2022 6,375

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 13,991 15,491

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 24,880 18,757
Other creditors 157,637 173,922
182,517 192,679

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £151,638 (2022: £172,122) owed to the directors. The amount is unsecured and interest free with no set terms for repayment.

MJ DIXY LTD (REGISTERED NUMBER: 13170992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Jamshed.

The director is considered to be the ultimate controlling party by virtue of his ability to act in concert in respect of the operational and financial policies of the company.