Company Registration No. 11493129 (England and Wales)
MJM Renovations Ltd
Unaudited accounts
for the year ended 31 July 2023
MJM Renovations Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
30,889
38,263
Cash at bank and in hand
(4,486)
(1,003)
Creditors: amounts falling due within one year
(25,398)
(23,079)
Net current liabilities
(13,435)
(23,726)
Total assets less current liabilities
17,454
14,537
Creditors: amounts falling due after more than one year
(69,210)
(57,158)
Net liabilities
(51,756)
(42,621)
Called up share capital
10
10
Profit and loss account
(51,766)
(42,631)
Shareholders' funds
(51,756)
(42,621)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by
Marcus McCarten
Director
Company Registration No. 11493129
MJM Renovations Ltd
Notes to the Accounts
for the year ended 31 July 2023
MJM Renovations Ltd is a private company, limited by shares, registered in England and Wales, registration number 11493129. The registered office is Beckside, 23A Hallfield Drive, BAILDON, West Yorkshire, BD17 6NH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
15% Reducing Balance
Fixtures & fittings
15% Straight Line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
MJM Renovations Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Total
5
Transactions with related parties
Related Party Transactions:
The amount owing to the Director at the year end is £33,737 (2022: (£16,755)).
6
Average number of employees
During the year the average number of employees was 2 (2022: 2).