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Registered number: 05211645










M.J.W.P. LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
M.J.W.P. LIMITED
REGISTERED NUMBER: 05211645

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
1,030
1,288

  
1,030
1,288

Current assets
  

Cash at bank and in hand
 4 
1,240
1,240

  
1,240
1,240

Creditors: amounts falling due within one year
 5 
(3,550,754)
(3,550,297)

Net current liabilities
  
 
 
(3,549,514)
 
 
(3,549,057)

Total assets less current liabilities
  
(3,548,484)
(3,547,769)

  

Net liabilities
  
(3,548,484)
(3,547,769)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(3,548,584)
(3,547,869)

  
(3,548,484)
(3,547,769)


Page 1

 
M.J.W.P. LIMITED
REGISTERED NUMBER: 05211645

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

For the year ended 29 February 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 April 2024.




A. Witzenfeld
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
M.J.W.P. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private company limited by shares and was incorporated in England and Wales. The registered office address is:
13 Radford Crescent
Billericay
Essex
CM12 ODW

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

In view of the excess of liabilities over assets at  29th February 2023 of £3,548,484 the appropriateness of the going concern basis is dependent upon the continued support of the company's creditors.
The creditors have continued to support the company and the director is of the opinion that they will continue to do so. In light of the aforementioned, the director considers it appropriate to adopt the going concern basis in preparing the financial statements.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings & equipment
-
20%
Reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
M.J.W.P. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Tangible fixed assets







Fixtures, fittings & equipment

£



Cost or valuation


At 1 March 2023
22,072



At 29 February 2024

22,072



Depreciation


At 1 March 2023
20,784


Charge for the year on owned assets
258



At 29 February 2024

21,042



Net book value



At 29 February 2024
1,030



At 28 February 2023
1,288

Page 4

 
M.J.W.P. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
1,240
1,240

1,240
1,240



5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
431
407

Other creditors
3,549,857
3,549,857

Directors loan account
466
33

3,550,754
3,550,297



6.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,240
1,240




Financial assets measured at fair value through profit or loss comprise cash at bank.


7.


Related party transactions

Other creditors includes the following:-
£3,549,857 (2023 £3,549,857) owed to a trust which is run by independent trustees but the director and his wife are beneficiaries.

Page 5

 
M.J.W.P. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Controlling party

The ultimate parent company is Witzenfeld Holdings Limited, a company registered in Endland and Wales. The registered office address is:
13 Radford Crescent
Billericay
Essex 
CM12 0DW
The company is exempt from the obligation to prepare and deliver group accounts because it is part of a small group.


Page 6