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COMPANY REGISTRATION NUMBER: 10227957
M J DESIGN & BUILDING LTD
Filleted Unaudited Financial Statements
30 June 2024
M J DESIGN & BUILDING LTD
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
72,103
41,133
Current assets
Debtors
6
449,257
299,201
Cash at bank and in hand
668,222
508,881
------------
---------
1,117,479
808,082
Creditors: amounts falling due within one year
7
202,811
106,510
------------
---------
Net current assets
914,668
701,572
---------
---------
Total assets less current liabilities
986,771
742,705
Creditors: amounts falling due after more than one year
8
13,515
24,191
---------
---------
Net assets
973,256
718,514
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
973,156
718,414
---------
---------
Shareholders funds
973,256
718,514
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M J DESIGN & BUILDING LTD
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Mr JOGA SINGH
Director
Company registration number: 10227957
M J DESIGN & BUILDING LTD
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 COPTHALL ROAD EAST, ICKENHAM, UB10 8SD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
All assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
18% reducing balance
Equipment
-
18% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 7 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 July 2023
52,161
3,392
55,553
Additions
54,595
54,595
Disposals
( 14,140)
( 14,140)
--------
-------
--------
At 30 June 2024
92,616
3,392
96,008
--------
-------
--------
Depreciation
At 1 July 2023
13,187
1,233
14,420
Charge for the year
15,439
389
15,828
Disposals
( 6,343)
( 6,343)
--------
-------
--------
At 30 June 2024
22,283
1,622
23,905
--------
-------
--------
Carrying amount
At 30 June 2024
70,333
1,770
72,103
--------
-------
--------
At 30 June 2023
38,974
2,159
41,133
--------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
449,257
299,201
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
178,302
90,244
Social security and other taxes
18,584
10,971
Other creditors
5,925
5,295
---------
---------
202,811
106,510
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bounce Back Loan
13,515
20,517
Other creditors
3,674
--------
--------
13,515
24,191
--------
--------
9. Director's advances, credits and guarantees
Directors loan account relates to directors current account.
10. Related party transactions
The company was under the control of Mr JOGA SINGH throughout the current year. Mr JOGA SINGH is the managing director and 100% shareholder.