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REGISTERED NUMBER: 07860703 (England and Wales)















MJC RESIDENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024






MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 5 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJC RESIDENTIAL LIMITED

COMPANY INFORMATION
for the year ended 5 April 2024







DIRECTOR: Mr C R L Coombs





REGISTERED OFFICE: Aseos House
9-11 Moor Bottom
Honley
Holmfirth
West Yorkshire
HD9 6DN





REGISTERED NUMBER: 07860703 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

BALANCE SHEET
5 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,480 1,722
1,480 1,722

CURRENT ASSETS
Debtors 6 11,050 35,892
Cash at bank 10,820 21,465
21,870 57,357
CREDITORS
Amounts falling due within one year 7 (23,748 ) (39,468 )
NET CURRENT (LIABILITIES)/ASSETS (1,878 ) 17,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

(398

)

19,611

CREDITORS
Amounts falling due after more than one year 8 - (12,133 )
NET (LIABILITIES)/ASSETS (398 ) 7,478

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (498 ) 7,378
SHAREHOLDERS' FUNDS (398 ) 7,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

BALANCE SHEET - continued
5 April 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 director and authorised for issue on 27 November 2024 and were signed by:





Mr C R L Coombs - Director


MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 5 April 2024


1. STATUTORY INFORMATION

MJC Residential 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.

Turnover
Turnover comprises commission received for property management services. It is recognised in the period it relates to and net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, was being amortised evenly over its estimated useful life of five years. In 2015 the directors reviewed this policy and goodwill is now being amortised over its new estimated life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost and 25% on reducing balance

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current 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 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.

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 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 6 April 2023
and 5 April 2024 120,000
AMORTISATION
At 6 April 2023
and 5 April 2024 120,000
NET BOOK VALUE
At 5 April 2024 -
At 5 April 2023 -

MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023 11,806
Additions 283
At 5 April 2024 12,089
DEPRECIATION
At 6 April 2023 10,084
Charge for year 525
At 5 April 2024 10,609
NET BOOK VALUE
At 5 April 2024 1,480
At 5 April 2023 1,722

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 840 1,080
Other debtors 10,210 34,812
11,050 35,892

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 5,600
Trade creditors 462 171
Taxation and social security 6,795 9,677
Other creditors 16,491 24,020
23,748 39,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 12,133

MJC RESIDENTIAL LIMITED (REGISTERED NUMBER: 07860703)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 5 April 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
In more than five years 27,000 31,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 17,733

The bounce back loan has been secured by the government.

11. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £15,992 (2023 - £23,441) were outstanding at the year end. Loans will be repaid when funds permit.

The Directors and shareholders of MJC Residential Ltd are also Directors and shareholders of FPC Aseos Ltd and MJC Maintenance Ltd.

Intercompany loans of £10,000 (2023 - £34,602) were owed from FPC Aseos Ltd and £210 (2023 - £210) owed from MJC Maintenance Ltd.