Company Registration No. NI661317 (Northern Ireland)
Mjk Contracts Ltd
Unaudited accounts
for the year ended 31 May 2024
Mjk Contracts Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
19,520
24,400
Cash at bank and in hand
10,865
6,731
Creditors: amounts falling due within one year
(39,737)
(46,043)
Net current liabilities
(10,314)
(29,019)
Net assets/(liabilities)
9,206
(4,619)
Called up share capital
2
2
Profit and loss account
9,204
(4,621)
Shareholders' funds
9,206
(4,619)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2023 and were signed on its behalf by
Alan Kirkpatrick
Director
Company Registration No. NI661317
Mjk Contracts Ltd
Notes to the Accounts
for the year ended 31 May 2024
Mjk Contracts Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI661317. The registered office is 20 Galdanagh Drive, Clough, Ballymena, BT44 9BF, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of contract 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight line
Motor vehicles
20% Straight line
The director believes that MJK Contracts Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Mjk Contracts Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
12,500
18,000
30,500
At 31 May 2024
12,500
18,000
30,500
At 1 June 2023
6,100
-
6,100
Charge for the year
1,280
3,600
4,880
At 31 May 2024
7,380
3,600
10,980
At 31 May 2024
5,120
14,400
19,520
At 31 May 2023
6,400
18,000
24,400
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
8,817
11,114
Other creditors
5,200
10,829
Loans from directors
14,929
24,100
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).