Company registration number 10419279 (England and Wales)
MJB PREMIER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023
MJB PREMIER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MJB PREMIER LIMITED
BALANCE SHEET
AS AT 29 OCTOBER 2023
29 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
621
920
Current assets
Debtors
4
395
4,096
Cash at bank and in hand
19,370
1,656
19,765
5,752
Creditors: amounts falling due within one year
5
(21,875)
(6,254)
Net current liabilities
(2,110)
(502)
Net (liabilities)/assets
(1,489)
418
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1,490)
417
Total equity
(1,489)
418

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 9 April 2024
Mr M J Barley
Director
Company registration number 10419279 (England and Wales)
MJB PREMIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

MJB Premier Limited is a private company limited by shares incorporated in England and Wales. The registered office is 63 Fulmer Drive, Gerrards Cross, United Kingdom, SL9 7HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MJB PREMIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
£
Cost
At 30 October 2022 and 29 October 2023
1,194
Depreciation and impairment
At 30 October 2022
274
Depreciation charged in the year
299
At 29 October 2023
573
Carrying amount
At 29 October 2023
621
At 29 October 2022
920
MJB PREMIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 OCTOBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
377
-
0
Other debtors
18
4,056
Prepayments and accrued income
-
0
40
395
4,096
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
-
0
2,846
Other creditors
21,875
3,408
21,875
6,254
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