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REGISTERED NUMBER: 00970374 (England and Wales)















MJL Developments Limited

Unaudited Financial Statements For The Year Ended 31 July 2024






MJL Developments Limited (Registered number: 00970374)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MJL Developments Limited

Company Information
For The Year Ended 31 July 2024







DIRECTORS: S D Heaps
Miss R J Heaps
J R Heaps





SECRETARY: Miss R J Heaps





REGISTERED OFFICE: Hillside
Church End
Rushden
Buntingford
Hertfordshire
SG9 0SG





REGISTERED NUMBER: 00970374 (England and Wales)





ACCOUNTANTS: Streets ISA Ltd
Building 15
Gateway 1000
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP

MJL Developments Limited (Registered number: 00970374)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 251

CURRENT ASSETS
Stocks 5 1,606,427 1,601,672
Debtors 6 3,358 28,545
Cash at bank and in hand 8,140 107,458
1,617,925 1,737,675
CREDITORS
Amounts falling due within one year 7 (763,911 ) (859,442 )
NET CURRENT ASSETS 854,014 878,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

854,014

878,484

CAPITAL AND RESERVES
Called up share capital 7,500 7,500
Capital redemption reserve 2,500 2,500
Retained earnings 844,014 868,484
SHAREHOLDERS' FUNDS 854,014 878,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:




Miss R J Heaps - Director


MJL Developments Limited (Registered number: 00970374)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. STATUTORY INFORMATION

MJL Developments 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 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.

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
The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits, and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

MJL Developments Limited (Registered number: 00970374)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,110 (2023 - £4,273). No contributions were outstanding to the fund at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 58,800 10,172 68,972
Disposals (34,255 ) (9,524 ) (43,779 )
At 31 July 2024 24,545 648 25,193
DEPRECIATION
At 1 August 2023 58,800 9,921 68,721
Charge for year - 182 182
Eliminated on disposal (34,255 ) (9,455 ) (43,710 )
At 31 July 2024 24,545 648 25,193
NET BOOK VALUE
At 31 July 2024 - - -
At 31 July 2023 - 251 251

5. STOCKS
2024 2023
£    £   
Stocks 1,606,427 1,601,672

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 17,141
VAT 2,510 9,957
Prepayments 848 1,447
3,358 28,545

MJL Developments Limited (Registered number: 00970374)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 880 1,422
Amounts owed to associates 477,499 470,881
Social security and other taxes 1,317 1,068
Net wages - 5,587
Other creditors 421 1,032
Directors' current accounts 279,194 375,452
Accrued expenses 4,600 4,000
763,911 859,442

8. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Hippo Holdings Limited by virtue of its 100% ownership of the share capital of the company.