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Registration number: 09831820

M3J Solutions Ltd



Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

M3J Solutions Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

M3J Solutions Ltd

Company Information

Director

Mrs Sapna Panchal

Registered office

Second Floor
150 Fleet Street
London
EC4A 2DQ

Registered Number

09831820

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
M3J Solutions Ltd
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M3J Solutions Ltd for the year ended 31 October 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations given to us.

It is your duty to ensure that M3J Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities and financial position of the company. You consider that M3J Solutions Ltd is exempt from the statutory audit requirement for the year to 31 October 2023.

We have not been instructed to carry out an audit or a review of the accounts of M3J Solutions Ltd and 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 accounts.

......................................

Gower Accountancy Limited
Chartered Certified Accountants
Second Floor
150-151 Fleet Street
London
EC4A 2DQ

31 July 2024

 

M3J Solutions Ltd

(Registration number: 09831820)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

344

Investment property

5

-

77,044

 

-

77,388

Current assets

 

Debtors

6

8,209,306

7,936,921

Cash at bank and in hand

 

38,322

38,625

 

8,247,628

7,975,546

Creditors: Amounts falling due within one year

7

(678,392)

(316,500)

Net current assets

 

7,569,236

7,659,046

Total assets less current liabilities

 

7,569,236

7,736,434

Creditors: Amounts falling due after more than one year

7

(195,014)

(102,624)

Net assets

 

7,374,222

7,633,810

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

7,374,122

7,633,710

Shareholders' funds

 

7,374,222

7,633,810

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 July 2024
 

.........................................

Mrs Sapna Panchal
Director

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the financial year ending 31 October 2023.

Director's responsibilities:

 

M3J Solutions Ltd

(Registration number: 09831820)
Balance Sheet as at 31 October 2023

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with section 476 of the Companies Act 2006; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

M3J Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Second Floor
150 Fleet Street
London
EC4A 2DQ
United Kingdom

These financial statements were approved by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

20% on cost

 

M3J Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

M3J Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2022 - 7).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

2,081

228,294

230,375

At 31 October 2023

2,081

228,294

230,375

Depreciation

At 1 November 2022

2,081

228,294

230,375

At 31 October 2023

2,081

228,294

230,375

Carrying amount

At 31 October 2023

-

-

-

At 31 October 2022

344

-

344

5

Investment properties

2023
£

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

2022
£

Trade debtors

305,571

1,770

Other debtors

7,903,735

7,935,151

 

8,209,306

7,936,921

 

M3J Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

632,963

297,052

Taxation and social security

45,133

19,067

Other creditors

296

381

678,392

316,500

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

195,014

102,624

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Related party transactions

 

M3J Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

30,000

30,000