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REGISTERED NUMBER: 04552370 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MBJSC (PROPERTIES) LIMITED

MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MBJSC (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr S E Cornwell
Mrs M D Blair-Cornwell





SECRETARY: Mrs M D Blair-Cornwell





REGISTERED OFFICE: Janelle House
Hartham Lane
Hertford
Hertfordshire
SG14 1QN





REGISTERED NUMBER: 04552370 (England and Wales)





ACCOUNTANTS: Gary J Cansick & Co
Chartered Accountants
Janelle House
6 Hartham Lane
Hertford
Hertfordshire
SG14 1QN

MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2 2
Investment property 5 755,000 784,000
755,002 784,002

CURRENT ASSETS
Debtors 6 1,100 1,100
Cash at bank 624 561
1,724 1,661
CREDITORS
Amounts falling due within one year 7 625,532 610,670
NET CURRENT LIABILITIES (623,808 ) (609,009 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,194

174,993

PROVISIONS FOR LIABILITIES 24,015 26,250
NET ASSETS 107,179 148,743

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 214,760 241,525
Retained earnings (107,681 ) (92,882 )
SHAREHOLDERS' FUNDS 107,179 148,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)

BALANCE SHEET - continued
31 JANUARY 2024


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 29 October 2024 and were signed on its behalf by:




Mr S E Cornwell - Director



Mrs M D Blair-Cornwell - Director


MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)

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

1. STATUTORY INFORMATION

MBJSC (Properties) 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of rents received or receivable, excluding discounts, rebates and value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 2
NET BOOK VALUE
At 31 January 2024 2
At 31 January 2023 2

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 784,000
Revaluations (29,000 )
At 31 January 2024 755,000
NET BOOK VALUE
At 31 January 2024 755,000
At 31 January 2023 784,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2007 66,275
Valuation in 2013 (10,000 )
Valuation in 2015 17,500
Valuation in 2017 105,000
Valuation in 2018 28,826
Valuation in 2019 (6,124 )
Valuation in 2020 10,980
Valuation in 2021 31,340
Valuation in 2023 23,978
Valuation in 2024 (29,000 )
Cost 516,225
755,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 516,225 516,225

Investment properties were valued on an open market basis on 31 January 2024 by the directors .

MBJSC (PROPERTIES) LIMITED (REGISTERED NUMBER: 04552370)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 1,100 1,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 415,394 415,394
Other creditors 210,138 195,276
625,532 610,670

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 415,394 415,394

The bank loans are secured by way of a charge on the investment properties owned by the company and a floating charge on all other assets, present and future, of the company.

9. RELATED PARTY DISCLOSURES

MBJSC (Holdings) Limited
A company under common control

At the year end the company owed £201,890 (2023 - £188,090) to the related party.