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REGISTERED NUMBER: 10914696 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

FOR

MJ PHOENIX INVESTMENTS LTD

MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJ PHOENIX INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTORS: J Meahet
A Sanghera





REGISTERED OFFICE: 5 The Quadrant
Coventry
CV1 2EL





REGISTERED NUMBER: 10914696 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,103,626 1,136,154

CURRENT ASSETS
Debtors 5 7,600 131,899
Cash at bank 5,870 3,658
13,470 135,557
CREDITORS
Amounts falling due within one year 6 416,562 537,332
NET CURRENT LIABILITIES (403,092 ) (401,775 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

700,534

734,379

CREDITORS
Amounts falling due after more than one
year

7

(597,997

)

(627,051

)

PROVISIONS FOR LIABILITIES - (21,190 )
NET ASSETS 102,537 86,138

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,437 86,038
102,537 86,138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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.

MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

BALANCE SHEET - continued
30 MARCH 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 23 December 2024 and were signed on its behalf by:




J Meahet - Director



A Sanghera - Director


MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024


1. STATUTORY INFORMATION

MJ Phoenix Investments Ltd 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.

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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 NIL (2023 - NIL).

MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023 1,136,154
Additions 98,472
Disposals (131,000 )
At 30 March 2024 1,103,626
NET BOOK VALUE
At 30 March 2024 1,103,626
At 30 March 2023 1,136,154

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2019 14,365
Valuation in 2020 87,635
Valuation in 2021 70,246
Valuation in 2022 33,647
Cost 897,733
1,103,626

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 128,899
Other debtors 7,600 3,000
7,600 131,899

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,916 403,184
Trade creditors 90,597 89,247
Amounts owed to group undertakings 288,284 -
Taxation and social security 1,081 12,899
Other creditors 33,684 32,002
416,562 537,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 597,997 627,051

MJ PHOENIX INVESTMENTS LTD (REGISTERED NUMBER: 10914696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 March 2024 and the period ended 30 March 2023:

2024 2023
£    £   
J Meahet
Balance outstanding at start of year - -
Amounts advanced 88,520 96,854
Amounts repaid (88,520 ) (96,854 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

A Sanghera
Balance outstanding at start of year - -
Amounts advanced 79,700 77,850
Amounts repaid (79,700 ) (77,850 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -