Caseware UK (AP4) 2023.0.135 2023.0.135 22022-09-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08660480 2022-09-01 2023-08-31 08660480 2021-09-01 2022-08-31 08660480 2023-08-31 08660480 2022-08-31 08660480 c:Director1 2022-09-01 2023-08-31 08660480 d:PlantMachinery 2022-09-01 2023-08-31 08660480 d:PlantMachinery 2023-08-31 08660480 d:PlantMachinery 2022-08-31 08660480 d:CurrentFinancialInstruments 2023-08-31 08660480 d:CurrentFinancialInstruments 2022-08-31 08660480 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08660480 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08660480 d:ShareCapital 2023-08-31 08660480 d:ShareCapital 2022-08-31 08660480 d:RetainedEarningsAccumulatedLosses 2023-08-31 08660480 d:RetainedEarningsAccumulatedLosses 2022-08-31 08660480 c:OrdinaryShareClass1 2022-09-01 2023-08-31 08660480 c:OrdinaryShareClass1 2023-08-31 08660480 c:OrdinaryShareClass1 2022-08-31 08660480 c:OrdinaryShareClass2 2022-09-01 2023-08-31 08660480 c:OrdinaryShareClass2 2023-08-31 08660480 c:OrdinaryShareClass2 2022-08-31 08660480 c:FRS102 2022-09-01 2023-08-31 08660480 c:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 08660480 c:FullAccounts 2022-09-01 2023-08-31 08660480 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08660480 2 2022-09-01 2023-08-31 08660480 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08660480










MN & JC Developments Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 August 2023

 
MN & JC Developments Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of MN & JC Developments Limited for the year ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MN & JC Developments Limited for the year ended 31 August 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of MN & JC Developments Limited, as a body, in accordance with the terms of our engagement letter dated 17 July 2023Our work has been undertaken solely to prepare for your approval the financial statements of MN & JC Developments Limited  and state those matters that we have agreed to state to the Board of directors of MN & JC Developments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MN & JC Developments Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that MN & JC Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MN & JC Developments Limited. You consider that MN & JC Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of MN & JC Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
6 March 2024
Page 1

 
MN & JC Developments Limited
Registered number: 08660480

Balance sheet
As at 31 August 2023

2023
2022
Note
£
£

  

Tangible assets
 4 
-
-

  
-
-

Current assets
  

Stocks
  
234,488
232,580

Debtors: amounts falling due within one year
 5 
35,332
34,598

Cash at bank and in hand
  
974
3,601

  
270,794
270,779

Creditors: amounts falling due within one year
 6 
(329,493)
(313,760)

Net current liabilities
  
 
 
(58,699)
 
 
(42,981)

Total assets less current liabilities
  
(58,699)
(42,981)

  

Net liabilities
  
(58,699)
(42,981)


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
(58,701)
(42,983)

  
(58,699)
(42,981)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 directors acknowledge their 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 by: 




................................................
M C Nicholson
Director
Date: 4 March 2024

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
MN & JC Developments Limited
Registered number: 08660480

Balance sheet (continued)
As at 31 August 2023


Page 3

 
MN & JC Developments Limited
 

 
Notes to the financial statements
For the year ended 31 August 2023

1.


General information

MN & JC Developments Limited is a private company, limited by share capital and incorporated in England and Wales. The registered office address is 19 Montpellier Avenue, Bexley, Kent, DA5 3AP.

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.

The presentational and functional currency of the financial statements is £ sterling.
The figures in the financial statements have been rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to continue to trade is dependant upon the support of its directors. If this assumption proves to be inappropriate, adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line

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

Work in progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase and development. 
At each balance sheet date, work in progress is assessed for impairment. If considered impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
MN & JC Developments Limited
 

 
Notes to the financial statements
For the year ended 31 August 2023

2.Accounting policies (continued)

 
2.5

Debtors

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

 
2.6

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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
MN & JC Developments Limited
 

 
Notes to the financial statements
For the year ended 31 August 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 September 2022
756



At 31 August 2023

756



Depreciation


At 1 September 2022
756



At 31 August 2023

756



Net book value



At 31 August 2023
-



At 31 August 2022
-


5.


Debtors

2023
2022
£
£


Other debtors
35,332
34,598

35,332
34,598


Included within other debtors due within one year is a loan to a director, amounting to £26,653 (2022: £26,104). Interest amounting to £549 (2022: £637) accrued during the year. The main conditions were as follows:
- interest is charged at 2% to 5 April 2023 and 2.5% thereafter; and
- the loan is repayable on demand


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to other participating interests
300,092
287,169

Corporation tax
185
215

Other creditors
26,816
23,976

Accruals and deferred income
2,400
2,400

329,493
313,760


Page 6

 
MN & JC Developments Limited
 

 
Notes to the financial statements
For the year ended 31 August 2023

7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



1 (2022: 1) Ordinary A share of £1.00
1
1
1 (2022: 1) Ordinary B share of £1.00
1
1

2

2



8.


Related party transactions

Nich Projects Limited
(50% Shareholder and common control)
During the year Nich Projects Limited continued to provide a loan to the Company. Interest is charged on the loan at a rate of 4.5% per annum and the loan is repayable on demand. The interest charge for the year amounted to £12,923 (2022: £12,007). At the balance sheet date the amount due to Nich Projects Limited was £300,092 (2022: £287,169).
Director
During the year one of the directors provided a loan to the Company. The loan is interest free and repayable on demand. At the balance sheet date the amount owed to the director was £26,816 (2022: £23,976).


Page 7