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REGISTERED NUMBER: 01255650 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MJL Holdings Limited

MJL Holdings Limited (Registered number: 01255650)






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

Accountants' Report 8

MJL Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M J Luff





SECRETARY:





REGISTERED OFFICE: Unit B 201 Long Lane
Stanwell
Middlesex
TW19 7AV





REGISTERED NUMBER: 01255650 (England and Wales)





ACCOUNTANTS: Xeinadin Billericay Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

MJL Holdings Limited (Registered number: 01255650)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,412,498 1,458,490

CURRENT ASSETS
Stocks 179,886 445,644
Debtors 5 227,145 146,802
Cash at bank and in hand 6 3,249,631 3,225,324
3,656,662 3,817,770
CREDITORS
Amounts falling due within one year 7 312,406 466,298
NET CURRENT ASSETS 3,344,256 3,351,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,756,754

4,809,962

PROVISIONS FOR LIABILITIES 8 11,750 171,778
NET ASSETS 4,745,004 4,638,184

CAPITAL AND RESERVES
Called up share capital 9 1 1
Capital redemption reserve 1 1
Retained earnings 4,745,002 4,638,182
SHAREHOLDERS' FUNDS 4,745,004 4,638,184

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.

MJL Holdings Limited (Registered number: 01255650)

Balance Sheet - continued
31 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 director and authorised for issue on 10 March 2025 and were signed by:





M J Luff - Director


MJL Holdings Limited (Registered number: 01255650)

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

1. STATUTORY INFORMATION

MJL Holdings 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 value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 25% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MJL Holdings Limited (Registered number: 01255650)

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

2. ACCOUNTING POLICIES - continued

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 18 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 1,920,913 75,000 104,200
Disposals - - (54,200 )
At 31 March 2024 1,920,913 75,000 50,000
DEPRECIATION
At 1 April 2023 474,263 72,376 95,058
Charge for year 38,418 525 703
Eliminated on disposal - - (47,873 )
At 31 March 2024 512,681 72,901 47,888
NET BOOK VALUE
At 31 March 2024 1,408,232 2,099 2,112
At 31 March 2023 1,446,650 2,624 9,142

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 6,250 4,910 2,111,273
Disposals - (4,910 ) (59,110 )
At 31 March 2024 6,250 - 2,052,163
DEPRECIATION
At 1 April 2023 6,176 4,910 652,783
Charge for year 19 - 39,665
Eliminated on disposal - (4,910 ) (52,783 )
At 31 March 2024 6,195 - 639,665
NET BOOK VALUE
At 31 March 2024 55 - 1,412,498
At 31 March 2023 74 - 1,458,490

MJL Holdings Limited (Registered number: 01255650)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 208,730 136,126
Other debtors 10,676 10,676
Prepayments and accrued income 7,739 -
227,145 146,802

6. CASH AT BANK AND IN HAND

Cash at Bank includes £3,179,329 (2023: £3,088,041) of funds held in interest bearing investment accounts registered in the name of the director, Mr M J Luff as nominee for MJL Holdings Limited. By virtue of a trust deed, these funds and all accruing interest remain held for the sole, beneficial ownership of MJL Holdings Limited.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 79,695 97,725
Tax 102,451 156,389
Social security and other taxes 13,370 5,921
Net Wages 2,880 -
VAT 38,580 58,593
Other creditors 28,152 49,504
Credit card 1,494 172
Directors' current accounts 36,084 81,115
Accrued expenses 9,700 16,879
312,406 466,298

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 1,750 1,780
Deferred capital gains 10,000 169,998
11,750 171,778

Deferred
tax
£   
Balance at 1 April 2023 171,778
Provided during year (160,028 )
Deferred tax
Balance at 31 March 2024 11,750

The deferred capital gains provision relates to business asset rollover relief elections made on a provisional basis from the sale of business assets. It is the director's intention to reinvest these proceeds into new assets within the specified time limit.

MJL Holdings Limited (Registered number: 01255650)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
95 Ordinary £0.01 1 1

Accountants' Report to the Director
on the Unaudited Financial Statements of
MJL Holdings Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJL Holdings Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of MJL Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MJL Holdings Limited and state those matters that we have agreed to state to the director of MJL Holdings Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that MJL Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MJL Holdings Limited. You consider that MJL Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MJL Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Xeinadin Billericay Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


10 March 2025