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REGISTERED NUMBER: 10006487 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

M J Recovery Services Ltd

M J Recovery Services Ltd (Registered number: 10006487)






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


M J Recovery Services Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M A Jones





REGISTERED OFFICE: 90-92 High Street
Evesham
Worcestershire
WR11 4EU





REGISTERED NUMBER: 10006487 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
90-92 High Street
Evesham
Worcestershire
WR11 4EU

M J Recovery Services Ltd (Registered number: 10006487)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,029 117,201

CURRENT ASSETS
Stocks 5,000 2,000
Debtors 5 217,956 190,054
Cash at bank and in hand 14,252 21,890
237,208 213,944
CREDITORS
Amounts falling due within one year 6 214,692 166,550
NET CURRENT ASSETS 22,516 47,394
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,545

164,595

CREDITORS
Amounts falling due after more than one
year

7

(24,861

)

(40,115

)

PROVISIONS FOR LIABILITIES (26,508 ) (31,058 )
NET ASSETS 71,176 93,422

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 71,076 93,322
71,176 93,422

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.

M J Recovery Services Ltd (Registered number: 10006487)

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 26 March 2025 and were signed by:





M A Jones - Director


M J Recovery Services Ltd (Registered number: 10006487)

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

1. STATUTORY INFORMATION

M J Recovery Services 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance

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.

M J Recovery Services Ltd (Registered number: 10006487)

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

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 - 37,983 259 175,850 214,092
Additions 3,719 1,530 1,706 - 6,955
At 31 March 2024 3,719 39,513 1,965 175,850 221,047
DEPRECIATION
At 1 April 2023 - 7,095 81 89,715 96,891
Charge for year 77 6,602 221 17,227 24,127
Reclassification/transfer - 2,000 - (2,000 ) -
At 31 March 2024 77 15,697 302 104,942 121,018
NET BOOK VALUE
At 31 March 2024 3,642 23,816 1,663 70,908 100,029
At 31 March 2023 - 30,888 178 86,135 117,201

M J Recovery Services Ltd (Registered number: 10006487)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 31,300 131,000 162,300
DEPRECIATION
At 1 April 2023 2,886 75,379 78,265
Charge for year 5,115 11,419 16,534
Reclassification/transfer 2,838 (1,475 ) 1,363
At 31 March 2024 10,839 85,323 96,162
NET BOOK VALUE
At 31 March 2024 20,461 45,677 66,138
At 31 March 2023 28,414 55,621 84,035

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 68,328 62,097
Amounts owed by group undertakings 34,016 18,614
Other debtors 3,899 81
Directors' current accounts 103,866 100,250
Taxation 6,646 6,646
Prepayments 1,201 1,082
217,956 188,770

Amounts falling due after more than one year:
Other debtor - 1,284

Aggregate amounts 217,956 190,054

M J Recovery Services Ltd (Registered number: 10006487)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 23,413 6,600
Hire purchase contracts 12,176 32,835
Trade creditors 63,775 46,473
Taxation 57,274 35,213
Social security and other taxes 19,837 21,077
Pensions 89 105
Net wages 525 -
VAT 19,383 20,850
Other creditors 10,060 180
Accrued expenses 8,160 3,217
214,692 166,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 9,221 6,600
Bank loans - 2-5 years - 5,700
Hire purchase contracts 15,640 27,815
24,861 40,115

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M A Jones
Balance outstanding at start of year 100,250 66,254
Amounts advanced 3,616 73,996
Amounts repaid - (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,866 100,250