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REGISTERED NUMBER: 05300834 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MJB METAL GROUP LTD

MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJB METAL GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: L E Navin
C D Navin





SECRETARY: L E Navin





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 05300834 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,999 43,849

CURRENT ASSETS
Stocks 3,830 3,650
Debtors 5 32,747 55,943
Cash at bank 10,994 8,216
47,571 67,809
CREDITORS
Amounts falling due within one year 6 47,472 64,091
NET CURRENT ASSETS 99 3,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,098

47,567

CREDITORS
Amounts falling due after more than one year 7 30,828 46,725
NET ASSETS 4,270 842

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 4,266 838
SHAREHOLDERS' FUNDS 4,270 842

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.

MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




L E Navin - Director



C D Navin - Director


MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

MJB Metal Group 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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.

MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 71,235 9,142 60,287 5,559 146,223
DEPRECIATION
At 1 December 2022 57,085 8,820 31,295 5,174 102,374
Charge for year 2,830 64 5,798 158 8,850
At 30 November 2023 59,915 8,884 37,093 5,332 111,224
NET BOOK VALUE
At 30 November 2023 11,320 258 23,194 227 34,999
At 30 November 2022 14,150 322 28,992 385 43,849

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 34,995
DEPRECIATION
At 1 December 2022 12,598
Charge for year 4,479
At 30 November 2023 17,077
NET BOOK VALUE
At 30 November 2023 17,918
At 30 November 2022 22,397

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,980 45,407
Other debtors 1,847 2,835
Directors' current accounts 9,797 4,788
Prepayments 4,123 2,913
32,747 55,943

MJB METAL GROUP LTD (REGISTERED NUMBER: 05300834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,900 9,983
Hire purchase contracts (see note 8) 5,981 5,981
Trade creditors 7,389 8,698
Tax 14,895 15,755
Social security and other taxes - 3,340
VAT 5,788 13,560
Accrued expenses 3,519 6,774
47,472 64,091

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,767 26,683
Hire purchase contracts (see note 8) 14,061 20,042
30,828 46,725

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 5,981 5,981
Between one and five years 14,061 20,042
20,042 26,023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 20,042 26,023

The hire purchase liability is secured against the asset to which it relates.