Registered number
06221336
MJF Ductwork Limited
Filleted Accounts
31 March 2024
MJF Ductwork Limited
Registered number: 06221336
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,969 11,008
Current assets
Debtors 4 60,926 62,295
Cash at bank and in hand 69,339 17,254
130,265 79,549
Creditors: amounts falling due within one year 5 (46,933) (63,912)
Net current assets 83,332 15,637
Total assets less current liabilities 88,301 26,645
Creditors: amounts falling due after more than one year 6 (7,060) -
Provisions for liabilities - (70)
Net assets 81,241 26,575
Capital and reserves
Called up share capital 100 100
Profit and loss account 81,141 26,475
Shareholders' funds 81,241 26,575
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.
M J Fowler
Director
Approved by the board on 16 May 2024
MJF Ductwork 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 433 10,246 25,888 36,567
At 31 March 2024 433 10,246 25,888 36,567
Depreciation
At 1 April 2023 174 7,155 18,230 25,559
Charge for the year 87 774 5,178 6,039
At 31 March 2024 261 7,929 23,408 31,598
Net book value
At 31 March 2024 172 2,317 2,480 4,969
At 31 March 2023 259 3,091 7,658 11,008
4 Debtors 2024 2023
£ £
Trade debtors 37,018 35,656
Other debtors 23,908 26,639
60,926 62,295
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,248 15,232
Trade creditors 13,587 12,598
Taxation and social security costs 15,161 10,090
Other creditors 13,937 25,992
46,933 63,912
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,060 -
7 Other information
MJF Ductwork Limited is a private company limited by shares and incorporated in England. Its registered office is:
MJF Ductwork Limited 06221336 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 M J Fowler No description of principal activity 06221336 2022-04-01 2023-03-31 06221336 core:WithinOneYear 2023-03-31 06221336 core:AfterOneYear 2023-03-31 06221336 core:ShareCapital 2023-03-31 06221336 core:RetainedEarningsAccumulatedLosses 2023-03-31 06221336 2023-04-01 2024-03-31 06221336 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06221336 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06221336 bus:Director40 2023-04-01 2024-03-31 06221336 1 2023-04-01 2024-03-31 06221336 2 2023-04-01 2024-03-31 06221336 core:LandBuildings 2023-04-01 2024-03-31 06221336 core:PlantMachinery 2023-04-01 2024-03-31 06221336 core:Vehicles 2023-04-01 2024-03-31 06221336 countries:England 2023-04-01 2024-03-31 06221336 bus:FRS102 2023-04-01 2024-03-31 06221336 bus:FilletedAccounts 2023-04-01 2024-03-31 06221336 2024-03-31 06221336 core:WithinOneYear 2024-03-31 06221336 core:AfterOneYear 2024-03-31 06221336 core:ShareCapital 2024-03-31 06221336 core:RetainedEarningsAccumulatedLosses 2024-03-31 06221336 core:LandBuildings 2024-03-31 06221336 core:PlantMachinery 2024-03-31 06221336 core:Vehicles 2024-03-31 06221336 2023-03-31 06221336 core:LandBuildings 2023-03-31 06221336 core:PlantMachinery 2023-03-31 06221336 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure