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REGISTERED NUMBER: 03356368 (England and Wales)












MJT Enterprises Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023






MJT Enterprises Limited (Registered number: 03356368)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MJT Enterprises Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: M J Tilbrook
M P Edwards





REGISTERED OFFICE: 26 Beatrice Road
Bodmin
Cornwall
PL31 1RD





REGISTERED NUMBER: 03356368 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
26 Beatrice Road
Bodmin
Cornwall
PL31 1RD

MJT Enterprises Limited (Registered number: 03356368)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,725,596 1,734,591
Investments 5 199,192 307,217
1,924,788 2,041,808

CURRENT ASSETS
Stocks 77,282 70,106
Debtors 6 14,115 9,781
Cash at bank and in hand 178,041 190,124
269,438 270,011
CREDITORS
Amounts falling due within one year 7 488,506 551,167
NET CURRENT LIABILITIES (219,068 ) (281,156 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,705,720 1,760,652

CAPITAL AND RESERVES
Called up share capital 1,750,000 1,750,000
Fair value reserve 8 (126,178 ) (131,843 )
Retained earnings 81,898 142,495
1,705,720 1,760,652

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2023 and were signed on its behalf by:





M J Tilbrook - Director


MJT Enterprises Limited (Registered number: 03356368)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

MJT Enterprises Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided for on Land
Plant and machinery - 25% on reducing balance and 5% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% 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.

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.

Share portfolio
The share portfolio is valued at market value as per asset management company statement as at year end.
Any differences between market value and actual costs have been written off to fair value reserves.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

MJT Enterprises Limited (Registered number: 03356368)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 1,595,244 507,255 51,448 16,184 2,170,131
Additions 20,031 6,058 - - 26,089
Disposals - (6,266 ) - - (6,266 )
At 30 September 2023 1,615,275 507,047 51,448 16,184 2,189,954
DEPRECIATION
At 1 October 2022 134,167 240,675 49,745 10,953 435,540
Charge for year - 31,350 430 1,024 32,804
Eliminated on disposal - (3,986 ) - - (3,986 )
At 30 September 2023 134,167 268,039 50,175 11,977 464,358
NET BOOK VALUE
At 30 September 2023 1,481,108 239,008 1,273 4,207 1,725,596
At 30 September 2022 1,461,077 266,580 1,703 5,231 1,734,591

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2022 307,217
Additions 36,592
Disposals (150,282 )
Revaluations 5,665
At 30 September 2023 199,192
NET BOOK VALUE
At 30 September 2023 199,192
At 30 September 2022 307,217

Cost or valuation at 30 September 2023 is represented by:

Other
investments
£   
Valuation in 2021 (44,682 )
Valuation in 2022 (87,162 )
Valuation in 2023 5,665
Cost 325,371
199,192

MJT Enterprises Limited (Registered number: 03356368)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 325,370 439,060
Aggregate provisions (126,178 ) 131,843

fixed asset investments were valued on an open market basis on 30 September 2023 by Capital Financial Movements .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,826 1,279
Other debtors 11,289 8,502
14,115 9,781

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 35,369 34,659
Other creditors 453,137 516,508
488,506 551,167

8. RESERVES
Fair
value
reserve
£   
At 1 October 2022 (131,843 )
Movement 5,665

At 30 September 2023 (126,178 )