MJ RENTAL INVESTMENTS LIMITED

Company Registration Number:
12096315 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

MJ RENTAL INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

MJ RENTAL INVESTMENTS LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 2,151,528 1,960,788
Total fixed assets: 2,151,528 1,960,788
Current assets
Debtors:   59,860 59,860
Cash at bank and in hand: 12,288 22,299
Total current assets: 72,148 82,159
Creditors: amounts falling due within one year:   (832,802) (662,584)
Net current assets (liabilities): (760,654) (580,425)
Total assets less current liabilities: 1,390,874 1,380,363
Creditors: amounts falling due after more than one year:   (1,302,564) (1,342,090)
Provision for liabilities: 0 (416)
Total net assets (liabilities): 88,310 37,857
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 88,210 37,757
Shareholders funds: 88,310 37,857

The notes form part of these financial statements

MJ RENTAL INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 May 2025
and signed on behalf of the board by:

Name: Mr Shayne Gallagher
Status: Director

The notes form part of these financial statements

MJ RENTAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets and depreciation policy

Annual depreciation of computer equipment is calculated at 25% of cost to write off the cost of the asset, less its residual value, over its estimated useful economic lifetime.

Other accounting policies

Going concern The financial statements have been prepared on a going concern basis. The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. Finance costs Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Taxation Current tax Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Deferred tax Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Impairment of assets Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Trade and other creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. Provisions Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

MJ RENTAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 4 4

MJ RENTAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible Assets

Total
Cost £
At 01 August 2023 1,961,715
Additions 191,619
At 31 July 2024 2,153,334
Depreciation
At 01 August 2023 927
Charge for year 879
At 31 July 2024 1,806
Net book value
At 31 July 2024 2,151,528
At 31 July 2023 1,960,788