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MJS Joinery Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






MJS Joinery Ltd (Registered number: 09466932)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJS Joinery Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M J Stock





REGISTERED OFFICE: Unit 2 Pride Point
Ashcroft Road
Knowsley Industrial Estate
Liverpool
Merseyside
L33 7TW





REGISTERED NUMBER: 09466932 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

MJS Joinery Ltd (Registered number: 09466932)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,355 64,658

CURRENT ASSETS
Stocks 13,871 11,436
Debtors 5 721,241 639,508
Cash at bank 19,078 3,378
754,190 654,322
CREDITORS
Amounts falling due within one year 6 628,307 567,717
NET CURRENT ASSETS 125,883 86,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,238

151,263

CREDITORS
Amounts falling due after more than one
year

7

(60,417

)

(49,400

)

PROVISIONS FOR LIABILITIES (5,502 ) (3,027 )
NET ASSETS 114,319 98,836

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 114,318 98,835
SHAREHOLDERS' FUNDS 114,319 98,836

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MJS Joinery Ltd (Registered number: 09466932)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2024 and were signed by:





M J Stock - Director


MJS Joinery Ltd (Registered number: 09466932)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

MJS Joinery Ltd 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.

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 represents net invoiced sales of services, excluding value added tax.

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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% 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 Income Statement, 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.

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.

MJS Joinery Ltd (Registered number: 09466932)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 4 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 100,924
Additions 4,534
At 31 March 2024 105,458
DEPRECIATION
At 1 April 2023 36,266
Charge for year 14,837
At 31 March 2024 51,103
NET BOOK VALUE
At 31 March 2024 54,355
At 31 March 2023 64,658

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 46,258
DEPRECIATION
At 1 April 2023 7,710
Charge for year 9,637
At 31 March 2024 17,347
NET BOOK VALUE
At 31 March 2024 28,911
At 31 March 2023 38,548

MJS Joinery Ltd (Registered number: 09466932)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 684,472 613,564
Other debtors 36,769 25,944
721,241 639,508

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,997 11,025
Hire purchase contracts 4,967 4,967
Trade creditors 253,261 199,864
Taxation and social security 308,382 351,011
Other creditors 26,700 850
628,307 567,717

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 34,997 19,013
Hire purchase contracts 25,420 30,387
60,417 49,400

8. ULTIMATE CONTROLLING PARTY

The controlling party is M J Stock.