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REGISTERED NUMBER: 01337234 (England and Wales)











Financial Statements

for the Year Ended 30 September 2024

for

MJF SPECIALIST FLOORING LTD

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJF SPECIALIST FLOORING LTD

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr B Duffy
Mr C Whalen





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 01337234 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 200,000 225,000
Tangible assets 5 118,406 105,146
318,406 330,146

CURRENT ASSETS
Stocks 6 129,000 57,000
Debtors 7 783,296 329,337
Cash at bank 9,171 19,036
921,467 405,373
CREDITORS
Amounts falling due within one year 8 891,201 504,498
NET CURRENT ASSETS/(LIABILITIES) 30,266 (99,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,672

231,021

CREDITORS
Amounts falling due after more than one year 9 (104,200 ) (93,990 )

PROVISIONS FOR LIABILITIES 11 (3,154 ) (3,904 )
NET ASSETS 241,318 133,127

CAPITAL AND RESERVES
Called up share capital 12 1,002 1,002
Retained earnings 13 240,316 132,125
SHAREHOLDERS' FUNDS 241,318 133,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





Mr B Duffy - Director


MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

MJF Specialist Flooring 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 16 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 250,000
AMORTISATION
At 1 October 2023 25,000
Amortisation for year 25,000
At 30 September 2024 50,000
NET BOOK VALUE
At 30 September 2024 200,000
At 30 September 2023 225,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 94,593 43,187 1,264 139,044
Additions 39,500 - 1,138 40,638
At 30 September 2024 134,093 43,187 2,402 179,682
DEPRECIATION
At 1 October 2023 27,068 6,298 532 33,898
Charge for year 17,704 9,222 452 27,378
At 30 September 2024 44,772 15,520 984 61,276
NET BOOK VALUE
At 30 September 2024 89,321 27,667 1,418 118,406
At 30 September 2023 67,525 36,889 732 105,146

6. STOCKS
30.9.24 30.9.23
£    £   
Stocks 129,000 57,000

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 669,924 309,303
Amounts owed by group undertakings 35,237 1,702
Other debtors 4,691 -
Directors' current accounts - 899
VAT 38,546 -
Prepayments and accrued income 34,898 17,433
783,296 329,337

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 10) 267,947 47,074
Hire purchase contracts 29,290 32,838
Trade creditors 435,040 313,767
Tax 15,751 -
Social security and other taxes 26,793 82,206
VAT - 21,986
Other creditors 4,935 1,502
Accruals and deferred income 111,445 5,125
891,201 504,498

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 56,652 46,442
Amounts owed to group undertakings 47,548 47,548
104,200 93,990

10. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 267,947 44,918
Bank loans - 2,156
267,947 47,074

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 3,154 3,904

MJF SPECIALIST FLOORING LTD (REGISTERED NUMBER: 01337234)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 3,904
Provided during year (750 )
Balance at 30 September 2024 3,154

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1,000 Ordinary £1 1,000 1,000
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
1,002 1,002

13. RESERVES
Retained
earnings
£   

At 1 October 2023 132,125
Profit for the year 145,691
Dividends (37,500 )
At 30 September 2024 240,316

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, included in debtors due within one year is an amount of £Nil (2023: £899), owed by the director.

15. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed an amount of £31,937 (2023: £1,702) by MJF Group Holdings, £3,000 (2023: £Nil) by MJF Ireland, £300 (2023: £Nil) by MJF Refit & Refurbishment Ltd and owed £47,548 (2023 : £47,548) to MJF Facilities Management Ltd.