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COMPANY REGISTRATION NUMBER: 02070419
MJR Facilities Management Limited
Filleted Unaudited Financial Statements
31 May 2024
MJR Facilities Management Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
9,977
Current assets
Stocks
15,366
Debtors
6
154,494
11,050
Investments
7
337,581
Cash at bank and in hand
338,274
50,826
---------
--------
845,715
61,876
Creditors: amounts falling due within one year
8
611,621
3,213
---------
--------
Net current assets
234,094
58,663
---------
--------
Total assets less current liabilities
244,071
58,663
Provisions
Taxation including deferred tax
1,844
( 793)
---------
--------
Net assets
242,227
59,456
---------
--------
Capital and reserves
Called up share capital
90
90
Profit and loss account
242,137
59,366
---------
--------
Shareholders funds
242,227
59,456
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MJR Facilities Management Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
Mr M J Reid
Director
Company registration number: 02070419
MJR Facilities Management Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Factory Road, Sandycroft, Flintshire, CH5 2QJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover in the profit and loss account represents amounts invoiced in the year for the supply of packaging and trans-filling gaseous products, and sundry other sales, exclusive of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance/straight line over 5 years
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 June 2023
Additions
6,502
5,062
1,740
13,304
-------
-------
-------
--------
At 31 May 2024
6,502
5,062
1,740
13,304
-------
-------
-------
--------
Depreciation
At 1 June 2023
Charge for the year
1,626
1,266
435
3,327
-------
-------
-------
--------
At 31 May 2024
1,626
1,266
435
3,327
-------
-------
-------
--------
Carrying amount
At 31 May 2024
4,876
3,796
1,305
9,977
-------
-------
-------
--------
At 31 May 2023
-------
-------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
149,017
Other debtors
5,477
11,050
---------
--------
154,494
11,050
---------
--------
7. Investments
2024
2023
£
£
Other investments
337,581
---------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,407
2,213
Social security and other taxes
75,086
Pension Creditor
532
Other creditors
509,596
1,000
---------
-------
611,621
3,213
---------
-------
9. Related party transactions
The company operated an inter company loan agreement with the parent company, Halon and Refrigerant Services Ltd. The opening balance was £10,467.07 (2023 nil) and this was repaid in the year. No further transactions with related parties were undertaken such as required to be disclosed under Financial Reporting Standard 102 section 33.
10. Controlling party
The ultimate parent company was Halon and Refrigerant Services Ltd (company number 2645324) which owned 100% of the shares in MJR Facilities Management Limited until 31st August 2023. The registered office of the ultimate parent company is J Reid Trading Estate, Factory Road, Sandycroft, Flintshire CH5 2QJ.