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REGISTERED NUMBER: 07510459 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MAJESTIC FAMILY SERVICES LIMITED

MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAJESTIC FAMILY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: K Scoins
R Barnett
P Mansfield





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE





REGISTERED NUMBER: 07510459 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,321,059 1,234,754

CURRENT ASSETS
Debtors 5 388,792 483,037
Cash at bank and in hand 561,265 90,131
950,057 573,168
CREDITORS
Amounts falling due within one year 6 (550,173 ) (480,991 )
NET CURRENT ASSETS 399,884 92,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,720,943

1,326,931

CREDITORS
Amounts falling due after more than one
year

7

(840,582

)

(816,804

)

PROVISIONS FOR LIABILITIES 9 (34,208 ) -
NET ASSETS 846,153 510,127

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 845,153 509,127
SHAREHOLDERS' FUNDS 846,153 510,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





R Barnett - Director


MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Majestic Family Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 comprises income from local councils for provision of residential assessments and community placements for new parents.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- 2% per annum on a straight line basis
Plant and machinery - 20% per annum on a reducing balance basis
Fixtures and fittings- 20% per annum on a reducing balance basis
Motor vehicles- 25% per annum on a reducing balance basis
Computer equipment- 20% per annum on a reducing balance basis

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.


MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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.

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.

3. EMPLOYEES

The average number of employees during the year was 55 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 1,289,157 490 41,155
Additions - - 6,375
At 31 January 2024 1,289,157 490 47,530
DEPRECIATION
At 1 February 2023 101,043 433 15,216
Charge for year 25,783 11 5,931
At 31 January 2024 126,826 444 21,147
NET BOOK VALUE
At 31 January 2024 1,162,331 46 26,383
At 31 January 2023 1,188,114 57 25,939

MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 13,867 24,649 1,369,318
Additions 138,075 4,291 148,741
At 31 January 2024 151,942 28,940 1,518,059
DEPRECIATION
At 1 February 2023 7,284 10,588 134,564
Charge for year 27,535 3,176 62,436
At 31 January 2024 34,819 13,764 197,000
NET BOOK VALUE
At 31 January 2024 117,123 15,176 1,321,059
At 31 January 2023 6,583 14,061 1,234,754

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 358,678 378,609
Other debtors 30,114 104,428
388,792 483,037

The amount due from the director is interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 85,592 74,208
Trade creditors 5,118 4,932
Taxation and social security 276,945 43,512
Other creditors 182,518 358,339
550,173 480,991

The amounts due to directors are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 738,959 816,804
Other creditors 101,623 -
840,582 816,804

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 477,781 543,504

MAJESTIC FAMILY SERVICES LIMITED (REGISTERED NUMBER: 07510459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 824,551 891,012

HSBC UK Bank PLC holds fixed and floating charges over specific investment property and current and future property and assets of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 34,208 -

Deferred
tax
£   
Accelerated Capital Allowances 34,208
Balance at 31 January 2024 34,208

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary A 1 500 500
250 Ordinary B 1 250 500
250 Ordinary C 1 250 -
1,000 1,000

On 21 March 2023 250 of the B Ordinary shares were reclassified as 250 C Ordinary shares.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
K Scoins
Balance outstanding at start of year - -
Amounts advanced 3,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,000 -