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REGISTERED NUMBER: SC629466 (Scotland)













































MJ Financial Investment Ltd

Unaudited Financial Statements

for the Year Ended 30th June 2023






MJ Financial Investment Ltd (Registered number: SC629466)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


MJ Financial Investment Ltd

Company Information
for the year ended 30th June 2023







Directors: M Jambor
Miss M Kohutiarova





Secretary: M Jambor





Registered office: Wheatlands Road
Galashiels
TD1 2HQ





Registered number: SC629466 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

MJ Financial Investment Ltd (Registered number: SC629466)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 49,229 51,791

Current assets
Stocks 1,500 1,500
Debtors 5 2,840 3,595
Cash at bank and in hand 35,523 29,469
39,863 34,564
Creditors
Amounts falling due within one year 6 48,893 35,196
Net current liabilities (9,030 ) (632 )
Total assets less current liabilities 40,199 51,159

Creditors
Amounts falling due after more than one
year

7

(8,756

)

(10,279

)

Provisions for liabilities (8,252 ) (9,318 )
Net assets 23,191 31,562

Capital and reserves
Called up share capital 100 100
Retained earnings 23,091 31,462
23,191 31,562

MJ Financial Investment Ltd (Registered number: SC629466)

Balance Sheet - continued
30th June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2023 and were signed on its behalf by:




M Jambor - Director



Miss M Kohutiarova - Director


MJ Financial Investment Ltd (Registered number: SC629466)

Notes to the Financial Statements
for the year ended 30th June 2023

1. Statutory information

MJ Financial Investment Ltd 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.

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.

Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Soft play equipment - 15% on reducing balance
Furniture and fittings - 15% on reducing balance
Kitchen equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock comprises food and cleaning supplies, and is valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The following assets and liabilities are classified as financial instruments - other debtors, trade creditors, other loans, accruals and directors' loans.

Other debtors, directors' loans (being repayable on demand), trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MJ Financial Investment Ltd (Registered number: SC629466)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

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.

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
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

MJ Financial Investment Ltd (Registered number: SC629466)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

4. Tangible fixed assets
Furniture
Soft play and Kitchen
equipment fittings equipment Totals
£    £    £    £   
Cost
At 1st July 2022 47,923 14,310 9,329 71,562
Additions 4,281 703 774 5,758
At 30th June 2023 52,204 15,013 10,103 77,320
Depreciation
At 1st July 2022 14,857 3,011 1,903 19,771
Charge for year 5,466 1,725 1,129 8,320
At 30th June 2023 20,323 4,736 3,032 28,091
Net book value
At 30th June 2023 31,881 10,277 7,071 49,229
At 30th June 2022 33,066 11,299 7,426 51,791

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 2,840 3,595

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 3,049 1,427
Taxation and social security 3,213 3,223
Other creditors 42,631 30,546
48,893 35,196

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 8,756 10,279

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,940 15,940
Between one and five years 14,612 14,612
31,552 30,552

MJ Financial Investment Ltd (Registered number: SC629466)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

9. Post balance sheet events

Since the year end, on 7th November 2023, a final dividend for the year ended 30th June 2023 of £20 per share has been declared.