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Registered number: 11055593













MJB CAPITAL LIMITED
UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
MJB CAPITAL LIMITED
 

 
COMPANY INFORMATION


Director
M J Bellamy 




Registered number
11055593



Registered office
3 Burlington Gardens

London

W1S 3EP






 
MJB CAPITAL LIMITED
 


CONTENTS



Page
Director's Report
 
1
Accountants' Report
 
2
Statement of Comprehensive Income
 
3
Statement of Financial Position
 
4
Statement of Changes in Equity
 
5
Notes to the Financial Statements
 
6 - 9



 
MJB CAPITAL LIMITED
 

 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director

The director who served during the year was:

M J Bellamy 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M J Bellamy
Director

Date: 13 May 2025

Page 1


 
MJB CAPITAL LIMITED
 

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MJB CAPITAL LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJB Capital Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of MJB Capital Limited in accordance with the terms of our engagement letter dated 10 January 2021Our work has been undertaken solely to prepare for your approval the financial statements of MJB Capital Limited and state those matters that we have agreed to state to the director of MJB Capital Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJB Capital Limited and its director for our work or for this report. 

It is your duty to ensure that MJB Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MJB Capital Limited. You consider that MJB Capital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of MJB Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Warrener Stewart
 
Chartered Accountants
  
Chartered Accountants
Harwood House
43 Harwood Road
London
SW6 4QP
 
13 May 2025
Page 2


 
MJB CAPITAL LIMITED
 

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£


Turnover
800,000
31,000

Cost of sales
-
24,368

Gross profit
800,000
55,368

Administrative expenses
(10,849)
(8,546)

Operating profit
789,151
46,822

Income from fixed assets investments
4,764
3,864

Profit/loss on disposal of investments
-
46,003

Interest receivable and similar income
16,084
1,903

Interest payable and similar expenses
-
(3,399)

Profit before tax
809,999
95,193

Tax on profit
(136,789)
(23,236)

Profit for the financial year
673,210
71,957

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 6 to 9 form part of these financial statements.

Page 3


 
MJB CAPITAL LIMITED
REGISTERED NUMBER:11055593


STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
400
400

  
400
400

Current assets
  

Debtors: amounts falling due within one year
 5 
1,502,125
869,534

Cash at bank and in hand
 6 
19,513
390

  
1,521,638
869,924

Creditors: amounts falling due within one year
 7 
(907,525)
(929,021)

Net current assets/(liabilities)
  
 
 
614,113
 
 
(59,097)

  

Net assets/(liabilities)
  
614,513
(58,697)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
614,313
(58,897)

  
614,513
(58,697)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Bellamy
Director

Date: 13 May 2025

The notes on pages 6 to 9 form part of these financial statements.

Page 4


 
MJB CAPITAL LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022 (as previously stated)
200
(166,581)
(166,381)

Prior year adjustment - correction of error
-
35,727
35,727


At 1 January 2022 (as restated)
200
(130,854)
(130,654)


Comprehensive income for the year

Profit for the year
-
71,957
71,957



At 1 January 2023
200
(58,897)
(58,697)


Comprehensive income for the year

Profit for the year
-
673,210
673,210


At 31 December 2023
200
614,313
614,513


The notes on pages 6 to 9 form part of these financial statements.

Page 5


 
MJB CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

MJB Capital Limited is a private company limited by shares and incorporated in England and Wales. Its principal activity is that of dealing in property and other opportunities. The address of its principal place of business is 3 Burlington Gardens, London, W1S 3EP.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 6


 
MJB CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss 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 reporting date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7


 
MJB CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
400



At 31 December 2023
400





5.


Debtors

2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
704,548
698,134

Other debtors
797,577
171,400

1,502,125
869,534



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,513
390

19,513
390


Page 8


 
MJB CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
5,700

Corporation tax
162,635
58,515

Other taxation and social security
219,958
216,148

Other creditors
443,882
384,122

Accruals and deferred income
81,050
264,536

907,525
929,021



8.


Related party transactions

Related party balances were as follows:

2023
2022
£
£

Debtor balances


Newmarket Holdings Limited
26,099
26,099

Salamanca Group LLP
93,414
87,000

CLLP Limited
41,781
41,781

Brightnite Limited
57,304
57,304

MJB Capital (Lancelot Place) Ltd
485,950
485,950

M J Bellamy
352,616
128,904

2023
2022
£
£

Creditor balances


Kogan Bellamy Lloyd Limited
423,039
366,186

Salamanca Group Holdings (UK) Limited
200
-

Bledisloe Estate Holdings Limited
20,331
17,886

Wildfox Resorts Limited
50
50

M J Bellamy is a director and shareholder in the company and is also a director, investor in or holds significant influence in the corporate entities listed above.
The amount owed by M J Bellamy was repaid on 2 January 2024.


9.


Controlling party

At the balance sheet date, the company was under the control of M J Bellamy and D Kogan.

Page 9


 
MJB CAPITAL LIMITED
 

 
Page 10