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REGISTERED NUMBER: 09401915 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MJLC FINANCIAL LIMITED

MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)






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


MJLC FINANCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr M J Clynch



REGISTERED OFFICE: 12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



REGISTERED NUMBER: 09401915 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Lloyds TSB
50 Cheapside
Barnsley
South Yorkshire
S70 1RU

MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 475 482

CURRENT ASSETS
Debtors 5 557 767
Cash at bank 7,083 11,155
7,640 11,922
CREDITORS
Amounts falling due within one year 6 6,250 10,408
NET CURRENT ASSETS 1,390 1,514
TOTAL ASSETS LESS CURRENT LIABILITIES 1,865 1,996

CAPITAL AND RESERVES
Called up share capital 7 50 50
Retained earnings 1,815 1,946
SHAREHOLDERS' FUNDS 1,865 1,996

MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

BALANCE SHEET - continued
31 MARCH 2024


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.

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 and authorised for issue by the director and authorised for issue on 25 September 2024 and were signed by:





Mr M J Clynch - Director


MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

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

1. STATUTORY INFORMATION

MJLC Financial 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgement have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing materials adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

When the outcome of a transaction can be measured reliably, turnover from mortgage advice services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date which the mortgage was agreed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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


MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

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

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2023 - 2 ) .

MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2023 2,223
Additions 140
At 31 March 2024 2,363
DEPRECIATION
At 1 April 2023 1,741
Charge for year 147
At 31 March 2024 1,888
NET BOOK VALUE
At 31 March 2024 475
At 31 March 2023 482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Other debtors 365 365
Prepayments and accrued income 192 402
557 767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Corporation tax 675 2,545
Social security and other taxes 1 -
Other creditors 188 190
Directors' current accounts 4,292 6,615
Accruals and deferred income 1,094 1,058
6,250 10,408

MJLC FINANCIAL LIMITED (REGISTERED NUMBER: 09401915)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
45 A ordinary £1 45 45
5 B Ordinary £1 5 5
50 50