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REGISTERED NUMBER: 05825979 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 May 2023

for

MSJL Trading Ltd

MSJL Trading Ltd (Registered number: 05825979)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MSJL Trading Ltd

Company Information
For The Year Ended 31 May 2023







DIRECTORS: Mr M D Fenton
Mrs S J Fenton





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 05825979 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

MSJL Trading Ltd (Registered number: 05825979)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,560,000 2,560,000

CURRENT ASSETS
Debtors 5 923 802
Cash at bank 48,962 35,169
49,885 35,971
CREDITORS
Amounts falling due within one year 6 1,319,758 1,290,777
NET CURRENT LIABILITIES (1,269,873 ) (1,254,806 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,290,127

1,305,194

CREDITORS
Amounts falling due after more than one
year

7

(398,444

)

(435,830

)

PROVISIONS FOR LIABILITIES 9 (223,615 ) (169,948 )
NET ASSETS 668,068 699,416

CAPITAL AND RESERVES
Called up share capital 10 200 200
Non-distributable fair value
reserve 11 670,846 724,513
Retained earnings 11 (2,978 ) (25,297 )
SHAREHOLDERS' FUNDS 668,068 699,416

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

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

MSJL Trading Ltd (Registered number: 05825979)

Statement of Financial Position - continued
31 May 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 12 February 2024 and were signed on its behalf by:




Mr M D Fenton - Director



Mrs S J Fenton - Director


MSJL Trading Ltd (Registered number: 05825979)

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


1. STATUTORY INFORMATION

MSJL Trading Ltd 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is not being depreciated in accordance with FRS 102 Section 16. The directors consider that the current property valuations provide a true and fair value at the year end.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, 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.

Creditors
Short term creditors are measured at the transaction price.


MSJL Trading Ltd (Registered number: 05825979)

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


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 2,560,000
NET BOOK VALUE
At 31 May 2023 2,560,000
At 31 May 2022 2,560,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2018 438,906
Valuation in 2022 449,334
Cost 1,671,760
2,560,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,671,760 1,671,760

Investment properties were valued on market value basis on 31 May 2022 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 923 802

MSJL Trading Ltd (Registered number: 05825979)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,500 36,500
Taxation and social security 1,732 -
Other creditors 1,281,526 1,254,277
1,319,758 1,290,777

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 398,444 435,830

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after
more than five years 246,944 284,330
246,944 284,330

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 434,944 472,330

The Bank loans are secured against the freehold properties.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 223,615 169,948

Deferred
tax
£   
Balance at 1 June 2022 169,948
Provided during year 53,667
Balance at 31 May 2023 223,615

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

MSJL Trading Ltd (Registered number: 05825979)

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


11. RESERVES
Non-distributable
fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 (25,297 ) 724,513 699,216
Deficit for the year (31,348 ) (31,348 )
Deferred tax on fair value
uplift 53,667 (53,667 ) -
At 31 May 2023 (2,978 ) 670,846 667,868