REGISTERED NUMBER: |
MJC RESIDENTIAL LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 were approved by the director and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
AMORTISATION |
At 6 April 2023 |
and 5 April 2024 |
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 |
Additions |
At 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
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. |