BALANCE SHEET
Intangible FA Cost - b/fwd 30,351 30,351 30,351
Cost - additions 0 0
Cost - disposals 0 0
Amortisation - b/fwd 0 0
Amortisation - provided in year 0 0
Amortisation - disposals 0 0
Land & buildings Cost - b/fwd 67,233 67,233 67,233
Cost - additions 0 0
Cost - revaluation 0 0
Cost - disposals 0 0
Depn - b/fwd 0 0
Depn - charge for the year 0 0
Depn - revaluation 0 0
Depn - disposals 0 0
Plant & machinery Cost - b/fwd 53,171 53,171 41,171
Cost - additions 0 12,000
Cost - disposals 0 0
Depn - b/fwd -22,766 -22,766 -15,766
Depn - provided in year -7,000 -7,000 -7,000
Depn - disposals 0 0
Motor vehicles Cost - b/fwd 19,500 19,500 19,500
Cost - additions 0 0
Cost - disposals 0 0
Depn - b/fwd -19,967 -19,967 -19,967
Depn - provided in year 467 467 0
Depn - disposals 0 0
Investments in subsidiaries B/fwd 0 0
Additions 0 0
Revaluation 0 0
Disposals 0 0
Other investments - listed B/fwd 0 0
Additions 0 0
Revaluation 0 0
Disposals 0 0
Other investments - unlisted B/fwd 0 0
Additions 0 0
Revaluation 0 0
Disposals 0 0
Stocks Stocks/WIP 5,000 5,000 5,000
Debtors Trade debtors 100,129 19,934 0 928 120,991 100,129 Cis/VAT
Due from group undertakings 0 0 0
Other debtors 0 53,221 -21,600 -31,621 0 0 D.Acc
Current asset investments Listed 0 0 0
Unlisted 0 0 0
Cash at bank Cash at bank 15,602 117,966 0 -124,320 407 231 9,886 15,602
Creditors less than 1yr Overdrafts 0 0 0
Bank loans 0 0 0
Finance lease and HP contracts 0 0 0
Trade creditors 231 -231 0 231
Due to group undertakings 0 0 0
Corporation tax -48,060 -8,278 -56,338 -48,060
Sub Contractors Tax 0 -8,501 -8,501 0
Proposed dividends 0 0 0
Accrued preference dividends 0 0 0
Non-equity preference shares 0 0 0
Other creditors -568 1,496 -928 0 -568 Vat Account
Creditors greater than 1yr Bounce Back Loan -16,595 5,324 -358 -11,629 -16,595
Finance lease and HP contracts 0 0 0
Trade creditors 0 0 0
Due to group undertakings 0 0 0
Non-equity preference shares 0 0 0
Other creditors 0 0 0
Deferred tax B/fwd 0 0 0
Charged to the p/l account 0 0 0
Charged to other comprehensive income 0 0 0
Share capital B/fwd -300 -300 -300
Shares issued 0 0 0
Shares redeemed 0 0 0
Share premium B/fwd 0 0 0
On shares issued 0 0 0
Expenses of issue 0 0 0
Revaluation reserve B/fwd 0 0 0
Gain on revaluation of land and buildings 0 0 0
Deferred taxation arising on the revaluation of land and buildings 0 0 0
Profit and loss account B/fwd -182,961 -182,961 -186,931
Equity dividends 31,621 31,621 37,317
0 0
0 0
0 0
0 0
Totals (all should be zero) 0 0 10,425 0 -10,832 0 0 0 407 0 0 0 0 0 0 0 0 0
Registered number
05067872
MJ CEILINGS AND PARTITIONS LIMITED
Filleted Accounts
31 March 2024
MJ CEILINGS AND PARTITIONS LIMITED
Registered number: 05067872
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,351 30,351
Tangible assets 4 90,638 97,171
120,989 127,522
Current assets
Stocks 5,000 5,000
Debtors 5 120,991 100,129
Cash at bank and in hand 9,886 15,602
135,877 120,731
Creditors: amounts falling due within one year 6 (64,839) (48,397)
Net current assets 71,038 72,334
Total assets less current liabilities 192,027 199,856
Creditors: amounts falling due after more than one year 7 (11,629) (16,595)
Net assets 180,398 183,261
Capital and reserves
Called up share capital 300 300
Profit and loss account 180,098 182,961
Shareholders' funds 180,398 183,261
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Darren Morgan
Director
Approved by the board on 27 July 2024
MJ CEILINGS AND PARTITIONS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 30,351
At 31 March 2024 30,351
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 30,351
At 31 March 2023 30,351
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 67,233 53,171 19,500 139,904
At 31 March 2024 67,233 53,171 19,500 139,904
Depreciation
At 1 April 2023 - 22,766 19,967 42,733
Charge for the year - 7,000 (467) 6,533
At 31 March 2024 - 29,766 19,500 49,266
Net book value
At 31 March 2024 67,233 23,405 - 90,638
At 31 March 2023 67,233 30,405 (467) 97,171
5 Debtors 2024 2023
£ £
Trade debtors 120,991 100,129
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - (231)
Taxation and social security costs 64,839 48,060
Other creditors - 568
64,839 48,397
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,629 16,595
8 Other information
MJ CEILINGS AND PARTITIONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
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