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MJA Heat Trace Products Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2025

Registration number: 07146844

 

MJA Heat Trace Products Ltd

Contents

Statement of financial position

1 to 2

Notes to the Financial Statements

3 to 7

 

MJA Heat Trace Products Ltd

(Registration number: 07146844)
Statement of financial position as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,346

1,642

Current assets

 

Debtors

5

1,083

1,930

Cash at bank and in hand

 

69,722

97,648

 

70,805

99,578

Creditors: Amounts falling due within one year

6

(21,756)

(28,480)

Net current assets

 

49,049

71,098

Total assets less current liabilities

 

50,395

72,740

Provisions for liabilities

(115)

(140)

Net assets

 

50,280

72,600

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

50,279

72,599

Shareholders' funds

 

50,280

72,600

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

 

MJA Heat Trace Products Ltd

(Registration number: 07146844)
Statement of financial position as at 28 February 2025

Approved and authorised by the director on 12 March 2025
 

.........................................
Ms J Terris
Director

 

MJA Heat Trace Products Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Gaskyns Close
Rudgwick
West Sussex
RH12 3HE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MJA Heat Trace Products Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

MJA Heat Trace Products Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

MJA Heat Trace Products Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

8,537

8,537

At 28 February 2025

8,537

8,537

Depreciation

At 1 March 2024

6,895

6,895

Charge for the year

296

296

At 28 February 2025

7,191

7,191

Carrying amount

At 28 February 2025

1,346

1,346

At 29 February 2024

1,642

1,642

 

MJA Heat Trace Products Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

5

Debtors

Current

2025
£

2024
£

Trade debtors

183

1,030

Other debtors

900

900

 

1,083

1,930

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

382

Taxation and social security

3,266

9,981

Accruals and deferred income

1,250

2,150

Other creditors

17,240

15,967

21,756

28,480

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1