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REGISTERED NUMBER: 03905291 (England and Wales)














MJL Skipmaster Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






MJL Skipmaster Limited (Registered number: 03905291)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


MJL Skipmaster Limited

Company Information
for the Year Ended 30 November 2023







Directors: J C Lyon
C M Lyon
S F Slayven
L Slayven





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Brantons Bridge
Bourne Road
Pode Hole
Spalding
Lincolnshire
PE11 3LL





Registered number: 03905291 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MJL Skipmaster Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJL Skipmaster Limited for the year ended 30 November 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MJL Skipmaster Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of MJL Skipmaster Limited and state those matters that we have agreed to state to the Board of Directors of MJL Skipmaster Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJL Skipmaster Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MJL Skipmaster Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MJL Skipmaster Limited. You consider that MJL Skipmaster Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MJL Skipmaster Limited. 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 financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


Date: .............................................

MJL Skipmaster Limited (Registered number: 03905291)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 465,595 616,716
Investments 6 24,160 -
489,755 616,716

Current assets
Stocks 382,204 476,232
Debtors 7 1,735,217 1,839,654
Cash at bank and in hand 163,372 93,557
2,280,793 2,409,443
Creditors
Amounts falling due within one year 8 931,674 1,357,698
Net current assets 1,349,119 1,051,745
Total assets less current liabilities 1,838,874 1,668,461

Creditors
Amounts falling due after more than one
year

9

(8,650

)

(20,000

)

Provisions for liabilities (116,318 ) (152,726 )
Net assets 1,713,906 1,495,735

Capital and reserves
Called up share capital 10 150,000 150,000
Retained earnings 1,563,906 1,345,735
Shareholders' funds 1,713,906 1,495,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MJL Skipmaster Limited (Registered number: 03905291)

Statement of Financial Position - continued
30 November 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 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 August 2024 and were signed on its behalf by:




J C Lyon - Director



L Slayven - Director


MJL Skipmaster Limited (Registered number: 03905291)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. Statutory information

MJL Skipmaster 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance, 15% on reducing balance and 5% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MJL Skipmaster Limited (Registered number: 03905291)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. 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.

4. Employees and directors

The average number of employees during the year was 35 (2022 - 26 ) .

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 December 2022 745,451 2,589 71,822 819,862
Additions 17,520 3,550 12,500 33,570
Disposals (66,620 ) (363 ) (78,000 ) (144,983 )
At 30 November 2023 696,351 5,776 6,322 708,449
Depreciation
At 1 December 2022 193,249 1,497 8,399 203,145
Charge for year 84,421 627 10,996 96,044
Eliminated on disposal (40,176 ) (303 ) (15,856 ) (56,335 )
At 30 November 2023 237,494 1,821 3,539 242,854
Net book value
At 30 November 2023 458,857 3,955 2,783 465,595
At 30 November 2022 552,202 1,092 63,423 616,717

6. Fixed asset investments
Listed
investments
£   
Cost
Additions 24,160
At 30 November 2023 24,160
Net book value
At 30 November 2023 24,160

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 609,418 1,178,323
Amounts owed by group undertakings 1,124,609 659,094
Other debtors - 76
Prepayments and accrued income 1,190 2,161
1,735,217 1,839,654

MJL Skipmaster Limited (Registered number: 03905291)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 6,116 7,500
Trade creditors 355,423 800,461
Commercial card 398 -
Tax 157,008 63,884
Social security and other taxes 44,973 53,380
VAT 160,219 119,312
Other creditors 2,131 10,850
Directors' loan accounts 129,240 135,089
Accruals and deferred income 76,166 167,222
931,674 1,357,698

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 8,650 20,000

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150,000 Ordinary shares £1 150,000 150,000

11. Related party disclosures

The following balance was owed to a related party at the year end:

MJL Welding & Fabrication Limited £1,124,609 (2022: £659,094)

This balance is repayable on demand and no interest has been charged.