Registered number
03661527
MJM Design and Draughting Limited
Filleted Accounts
31 March 2023
MJM Design and Draughting Limited
Registered number: 03661527
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,840 11,830
Current assets
Debtors 4 7,855 26,328
Cash at bank and in hand 157,156 103,707
165,011 130,035
Creditors: amounts falling due within one year 5 (132,186) (73,348)
Net current assets 32,825 56,687
Total assets less current liabilities 40,665 68,517
Creditors: amounts falling due after more than one year 6 (6,597) (8,681)
Provisions for liabilities (1,500) (2,200)
Net assets 32,568 57,636
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,468 57,536
Shareholders' funds 32,568 57,636
The director is 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 director acknowledges his 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.
M Mason
Director
Approved by the board on 19 September 2023
MJM Design and Draughting 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.
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:
Computers 33% on a straight line basis
Fixtures, fittings, tools and equipment 15% on a straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 45,846
Additions 5,083
At 31 March 2023 50,929
Depreciation
At 1 April 2022 34,016
Charge for the year 9,073
At 31 March 2023 43,089
Net book value
At 31 March 2023 7,840
At 31 March 2022 11,830
4 Debtors 2023 2022
£ £
Trade debtors 7,855 26,328
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,083 2,083
Other taxes and social security costs 16,430 10,464
Other creditors 113,673 60,801
132,186 73,348
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,597 8,681
7 Other information
MJM Design and Draughting Limited is a private company limited by shares and incorporated in England. Its registered office is:
21 Bakers Way
Millers Croft
Hednesford
Staffordshire
WS12 4XZ
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