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REGISTERED NUMBER: 11249336 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MJM Woodworking Machinery Limited

MJM Woodworking Machinery Limited (Registered number: 11249336)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJM Woodworking Machinery Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M J Martin





REGISTERED OFFICE: Unit 7 Marsh Lane Trading Estate
Marsh Lane
Easton-in-Gordano
Bristol
BS20 0NH





REGISTERED NUMBER: 11249336 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

MJM Woodworking Machinery Limited (Registered number: 11249336)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 56,000 64,000
Tangible assets 5 13,439 17,270
69,439 81,270

CURRENT ASSETS
Stocks 228,362 151,795
Debtors 6 95,785 230,203
Cash at bank 97,553 99,213
421,700 481,211
CREDITORS
Amounts falling due within one year 7 310,185 253,520
NET CURRENT ASSETS 111,515 227,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,954

308,961

CREDITORS
Amounts falling due after more than one
year

8

(13,332

)

(25,892

)

PROVISIONS FOR LIABILITIES (2,553 ) (3,281 )
NET ASSETS 165,069 279,788

MJM Woodworking Machinery Limited (Registered number: 11249336)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,969 279,688
165,069 279,788

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

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

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 13 January 2025 and were signed by:





M J Martin - Director


MJM Woodworking Machinery Limited (Registered number: 11249336)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

MJM Woodworking Machinery 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.

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 represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MJM Woodworking Machinery Limited (Registered number: 11249336)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 - 2 ) .

MJM Woodworking Machinery Limited (Registered number: 11249336)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 80,000
AMORTISATION
At 1 April 2023 16,000
Charge for year 8,000
At 31 March 2024 24,000
NET BOOK VALUE
At 31 March 2024 56,000
At 31 March 2023 64,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 40,515
Additions 649
At 31 March 2024 41,164
DEPRECIATION
At 1 April 2023 23,245
Charge for year 4,480
At 31 March 2024 27,725
NET BOOK VALUE
At 31 March 2024 13,439
At 31 March 2023 17,270

MJM Woodworking Machinery Limited (Registered number: 11249336)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 25,068
DEPRECIATION
At 1 April 2023 14,492
Charge for year 2,644
At 31 March 2024 17,136
NET BOOK VALUE
At 31 March 2024 7,932
At 31 March 2023 10,576

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 89,013 224,047
Other debtors 6,772 6,156
95,785 230,203

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 2,559 4,387
Trade creditors 149,486 47,648
Taxation and social security 22,889 65,275
Other creditors 125,251 126,210
310,185 253,520

MJM Woodworking Machinery Limited (Registered number: 11249336)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 13,332 23,333
Hire purchase contracts - 2,559
13,332 25,892

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr M J Martin
Director20242023

Dividends1,0002,000

Capital introduced/(withdrawn)1,000(5,500)

At the year end, the company owed the director £120,050 (2023 - £119,050).