Registered number
04655294
MJS Fire & Security Limited
Filleted Accounts
31 March 2024
MJS Fire & Security Limited
Registered number: 04655294
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,665 11,688
Current assets
Stocks 6,250 5,000
Debtors 4 18,504 15,189
Cash at bank and in hand 3,602 11,066
28,356 31,255
Creditors: amounts falling due within one year 5 (56,493) (48,426)
Net current liabilities (28,137) (17,171)
Total assets less current liabilities (21,472) (5,483)
Provisions for liabilities (203) -
Net liabilities (21,675) (5,483)
Capital and reserves
Called up share capital 100 100
Profit and loss account (21,775) (5,583)
Shareholder's funds (21,675) (5,483)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Stenner
Director
Approved by the board on 12 March 2025
MJS Fire & Security Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The accounts have been prepared by the director on a going concern basis, despite company having an excess of liabilities over total assets at 31st March 2024 amounting to £21675 (2023 £5483).. The director will continue to provide the company with whatever finiancial support may be necessary to enable the company to meet its liabiities and committments as they fall due. The director is confident that the company will trade out of its current difficulties in future years.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Computer equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant & machinery Motor vehicles Computer equipment Total
£ £ £ £
Cost
At 1 April 2023 19,014 14,110 1,250 34,374
Disposals - (7,910) - (7,910)
At 31 March 2024 19,014 6,200 1,250 26,464
Depreciation
At 1 April 2023 14,988 7,248 450 22,686
Charge for the year 805 701 160 1,666
On disposals - (4,553) - (4,553)
At 31 March 2024 15,793 3,396 610 19,799
Net book value
At 31 March 2024 3,221 2,804 640 6,665
At 31 March 2023 4,026 6,862 800 11,688
4 Debtors 2024 2023
£ £
Trade debtors 18,427 15,189
Other debtors 77 -
18,504 15,189
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 28,622 22,558
Trade creditors 304 8,642
Taxation and social security costs 22,727 8,256
Other creditors 4,840 8,970
56,493 48,426
6 Loans to directors
Description and conditions B/fwd Paid Repaid & W/Off C/fwd
£ £ £ £
Mr M Stenner
Director's current account 7,830 (41,481) 33,651 -
7,830 (41,481) 33,651 -
7 Related party transactions
During the year the director made net advances by way of loan to the company of £19761. Interest on the loan has been paid at the official HMRC rate appicable.The director has agreed that hw will write off the outstanding loan with the company at 31st March 2024 in the sum of £19761.
8 Controlling party
The company is under the control of Mark Stenner the sole director and shareholder.
9 Other information
MJS Fire & Security Limited is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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