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REGISTERED NUMBER: 02473732 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

MJC Construction & Refurb Ltd

MJC Construction & Refurb Ltd (Registered number: 02473732)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJC Construction & Refurb Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W Gamski
A Gamski





SECRETARY: J Gamski





REGISTERED OFFICE: 842 London Road
North Cheam
Sutton
Surrey
SM3 9BJ





REGISTERED NUMBER: 02473732 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

MJC Construction & Refurb Ltd (Registered number: 02473732)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 134,012 140,219
Investments 5 321,833 321,833
455,845 462,052

CURRENT ASSETS
Debtors 6 939,130 523,248
Cash at bank 164,273 25
1,103,403 523,273
CREDITORS
Amounts falling due within one year 7 (1,168,279 ) (632,944 )
NET CURRENT LIABILITIES (64,876 ) (109,671 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,969

352,381

CREDITORS
Amounts falling due after more than one year 8 (87,439 ) (148,797 )

PROVISIONS FOR LIABILITIES (9,691 ) (9,864 )
NET ASSETS 293,839 193,720

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 293,739 193,620
293,839 193,720

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

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

MJC Construction & Refurb Ltd (Registered number: 02473732)

Balance Sheet - continued
30 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





W Gamski - Director


MJC Construction & Refurb Ltd (Registered number: 02473732)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

MJC Construction & Refurb 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to the decorating and refurbishing of commercial and residential property.

2. ACCOUNTING POLICIES

ACCOUNTING CONVENTION
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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliable.The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their us lives on the following bases:

Plant and machinery- 20% on reducing balance
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

MJC Construction & Refurb Ltd (Registered number: 02473732)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

GOING CONCERN
At the time of approving the financial statements, the directors have a reasonable expectation that the company adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

PENSION
DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

MJC Construction & Refurb Ltd (Registered number: 02473732)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 4,895 15,424 272,960 293,279
Additions - 3,456 30,189 33,645
At 30 April 2024 4,895 18,880 303,149 326,924
DEPRECIATION
At 1 May 2023 4,783 11,918 136,359 153,060
Charge for year 22 940 38,890 39,852
At 30 April 2024 4,805 12,858 175,249 192,912
NET BOOK VALUE
At 30 April 2024 90 6,022 127,900 134,012
At 30 April 2023 112 3,506 136,601 140,219

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 321,833
NET BOOK VALUE
At 30 April 2024 321,833
At 30 April 2023 321,833

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 273,098 31,683
Gross amounts owed by contract customers 650,288 452,512
Other debtors 15,744 39,053
939,130 523,248

The directors consider considers the carrying value of trade and other receivables approximate to their fair value.

MJC Construction & Refurb Ltd (Registered number: 02473732)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 14,008
Hire purchase contracts (see note 9) 49,208 47,972
Trade creditors 519,798 258,056
Taxation and social security 152,468 122,118
Other creditors 436,580 190,790
1,168,279 632,944

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,270 21,495
Hire purchase contracts (see note 9) 63,415 85,792
Other creditors 12,754 41,510
87,439 148,797

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 49,208 47,972
Between one and five years 63,415 85,792
112,623 133,764

10. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £14,123 (2023 - £14,107).

Contribution totalling £1,490 (2023 - £1,490) were payable to fund at balance sheet date and are included in other creditors.

MJC Construction & Refurb Ltd (Registered number: 02473732)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
W Gamski
Balance outstanding at start of year (139,053 ) (66,648 )
Amounts advanced 163,938 160,892
Amounts repaid (424,518 ) (233,297 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (399,633 ) (139,053 )

13. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts due to directors of £399,633 (2023 - £139,053). This loan is interest free and repayable on demand.