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Registered number: 07816672
Michael Jon Associates Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
CMA Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07816672
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 165,304 168,264
165,304 168,264
CURRENT ASSETS
Debtors 5 272,310 310,701
Cash at bank and in hand 151,179 318,817
423,489 629,518
Creditors: Amounts Falling Due Within One Year 6 (10,098 ) (88,237 )
NET CURRENT ASSETS (LIABILITIES) 413,391 541,281
TOTAL ASSETS LESS CURRENT LIABILITIES 578,695 709,545
NET ASSETS 578,695 709,545
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 578,595 709,445
SHAREHOLDERS' FUNDS 578,695 709,545
Page 1
Page 2
For the year ending 31 October 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Jon Biddy
Director
22/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Michael Jon Associates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07816672 . The registered office is 4th Floor, 43 Berkley Square, London, W1J 5FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not provided
Plant & Machinery 25%
Fixtures & Fittings 25%
Computer Equipment 33%
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: )
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 155,745 17,042 3,186 16,325 192,298
Additions - - - 624 624
As at 31 October 2023 155,745 17,042 3,186 16,949 192,922
Depreciation
As at 1 November 2022 - 6,641 1,607 15,786 24,034
Provided during the period - 2,600 237 747 3,584
As at 31 October 2023 - 9,241 1,844 16,533 27,618
Net Book Value
As at 31 October 2023 155,745 7,801 1,342 416 165,304
As at 1 November 2022 155,745 10,401 1,579 539 168,264
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 119,290 180,266
Other debtors 153,020 130,435
272,310 310,701
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,298 52,327
Other creditors 1,800 35,910
10,098 88,237
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4