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REGISTERED NUMBER: 03982384 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

MJM Industrial Limited

MJM Industrial Limited (Registered number: 03982384)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


MJM Industrial Limited (Registered number: 03982384)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,155,418 943,523

CURRENT ASSETS
Stocks 95,000 95,000
Debtors 5 2,040,232 732,364
Prepayments and accrued income 507,280 507,280
Cash at bank and in hand 5,812,152 6,102,195
8,454,664 7,436,839
CREDITORS
Amounts falling due within one year 6 1,600,638 790,975
NET CURRENT ASSETS 6,854,026 6,645,864
TOTAL ASSETS LESS CURRENT LIABILITIES 8,009,444 7,589,387

CREDITORS
Amounts falling due after more than one year 7 (59,755 ) -

PROVISIONS FOR LIABILITIES (96,911 ) (87,784 )
NET ASSETS 7,852,778 7,501,603

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 300 300
Retained earnings 7,851,878 7,500,703
SHAREHOLDERS' FUNDS 7,852,778 7,501,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MJM Industrial Limited (Registered number: 03982384)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by:





Mr M D Beorby - Director


MJM Industrial Limited (Registered number: 03982384)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

MJM Industrial Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03982384

Registered office: Unit 6 Polygon Business Centre
Blackthorne Road
Colnbrook
Berkshire
SL3 0QT

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MJM Industrial Limited (Registered number: 03982384)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 688,823 174,343 566,253 185,045 1,614,464
Additions - - 407,708 4,456 412,164
Disposals - - (42,805 ) (2,157 ) (44,962 )
At 31 December 2023 688,823 174,343 931,156 187,344 1,981,666
DEPRECIATION
At 1 January 2023 96,433 137,375 309,752 127,381 670,941
Charge for year 13,777 5,545 164,714 9,044 193,080
Eliminated on disposal - - (37,449 ) (324 ) (37,773 )
At 31 December 2023 110,210 142,920 437,017 136,101 826,248
NET BOOK VALUE
At 31 December 2023 578,613 31,423 494,139 51,243 1,155,418
At 31 December 2022 592,390 36,968 256,501 57,664 943,523

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 141,617
At 31 December 2023 141,617
DEPRECIATION
Charge for year 35,404
At 31 December 2023 35,404
NET BOOK VALUE
At 31 December 2023 106,213

MJM Industrial Limited (Registered number: 03982384)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,484,449 340,018
Other debtors 555,783 392,346
2,040,232 732,364

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 164,267 -
Hire purchase contracts 35,853 -
Trade creditors 936,449 304,458
Taxation and social security 422,664 334,513
Other creditors 41,405 152,004
1,600,638 790,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 59,755 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 164,267 -
Hire purchase contracts 95,608 -
RBS invoice financing (80,509 ) 89,242
179,366 89,242

Secured liabilities are secured by means of a standard fixed and floating charge over the assets and business of the company.

The hire purchase liabilities are secured against the assets to which they relate to.

The bank overdraft security was satisfied on 11 January 2024.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M D Beorby
Balance outstanding at start of year 236,417 (108,987 )
Amounts advanced 1,557,785 1,648,364
Amounts repaid (1,553,720 ) (1,302,960 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 240,482 236,417

MJM Industrial Limited (Registered number: 03982384)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J J Smith
Balance outstanding at start of year - -
Amounts advanced 1,368,013 -
Amounts repaid (1,335,154 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,859 -