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REGISTERED NUMBER: SC638609 (Scotland)










Financial Statements

For The Year Ended 31 December 2023

for

M & J Joiners Ltd

M & J Joiners Ltd (Registered number: SC638609)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & J Joiners Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: G J McDonald
G Jones





REGISTERED OFFICE: 91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD





REGISTERED NUMBER: SC638609 (Scotland)





ACCOUNTANTS: Cahill Jack Associates Limited
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

M & J Joiners Ltd (Registered number: SC638609)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,094 2,803

CURRENT ASSETS
Debtors 5 24,535 113,492
Cash at bank 286,577 276,061
311,112 389,553
CREDITORS
Amounts falling due within one year 6 61,052 84,997
NET CURRENT ASSETS 250,060 304,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

294,154

307,359

CREDITORS
Amounts falling due after more than one
year

7

(122,487

)

(111,750

)

PROVISIONS FOR LIABILITIES (8,378 ) -
NET ASSETS 163,289 195,609

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 163,189 195,509
163,289 195,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

M & J Joiners Ltd (Registered number: SC638609)

Balance Sheet - continued
31 December 2023


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 14 February 2024 and were signed on its behalf by:




G J McDonald - Director



G Jones - Director


M & J Joiners Ltd (Registered number: SC638609)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

M & J Joiners 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Grants considered to be revenue in nature are credited to the profit and loss account in the same period as the related expenditure.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

M & J Joiners Ltd (Registered number: SC638609)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 5,723
Additions 55,990
At 31 December 2023 61,713
DEPRECIATION
At 1 January 2023 2,920
Charge for year 14,699
At 31 December 2023 17,619
NET BOOK VALUE
At 31 December 2023 44,094
At 31 December 2022 2,803

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 55,990
At 31 December 2023 55,990
DEPRECIATION
Charge for year 13,998
At 31 December 2023 13,998
NET BOOK VALUE
At 31 December 2023 41,992

M & J Joiners Ltd (Registered number: SC638609)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 39,689
Other debtors 24,535 73,803
24,535 113,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,000 25,000
Hire purchase contracts 10,824 -
Taxation and social security 22,912 58,723
Other creditors 2,316 1,274
61,052 84,997

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 88,679 111,750
Hire purchase contracts 33,808 -
122,487 111,750

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 yr by instal 12,659 17,858

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 113,679 -
Hire purchase contracts 44,632 -
158,311 -

The Bounce back loan is supported by a 100% guarantee from the UK Government.

Hire purchase creditors are secured on the assets concerned.