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REGISTERED NUMBER: SC243351 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MJD Systems Ltd.

MJD Systems Ltd. (Registered number: SC243351)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJD Systems Ltd.

COMPANY INFORMATION
for the Year Ended 31 March 2025







DIRECTORS: Mr M Dunscombe
Mrs J A Dunscombe





SECRETARY: Mrs J A Dunscombe





REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC243351 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

MJD Systems Ltd. (Registered number: SC243351)

BALANCE SHEET
31 March 2025

31.3.24 31.3.25
£    £    Notes £   
FIXED ASSETS
87,815 Tangible assets 5 53,193

CURRENT ASSETS
23,000 Stocks 23,500
181,234 Debtors 6 159,612
536,776 Cash at bank and in hand 548,837
741,010 731,949
CREDITORS
197,431 Amounts falling due within one year 7 177,287
543,579 NET CURRENT ASSETS 554,662
631,394 TOTAL ASSETS LESS CURRENT
LIABILITIES

607,855

21,620 PROVISIONS FOR LIABILITIES 13,272
609,774 NET ASSETS 594,583

CAPITAL AND RESERVES
974 Called up share capital 8 974
26 Capital redemption reserve 26
608,774 Retained earnings 593,583
609,774 SHAREHOLDERS' FUNDS 594,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

MJD Systems Ltd. (Registered number: SC243351)

BALANCE SHEET - continued
31 March 2025


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 5 June 2025 and were signed on its behalf by:





Mr M Dunscombe - Director


MJD Systems Ltd. (Registered number: SC243351)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

MJD Systems Ltd. is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents the invoiced value, less credit notes, of goods sold and services provided in the year, exclusive of value added tax

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs.The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period to which the reversal occurs.


MJD Systems Ltd. (Registered number: SC243351)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2025

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
Bank loans are shown within borrowings in current liabilities.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

MJD Systems Ltd. (Registered number: SC243351)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Totals fittings vehicles equipment
£    £    £    £   
COST
At 1 April 2024 189,964 25,632 142,352 21,980
Additions 7,040 3,370 - 3,670
At 31 March 2025 197,004 29,002 142,352 25,650
DEPRECIATION
At 1 April 2024 102,149 20,659 63,487 18,003
Charge for year 41,662 6,096 31,249 4,317
At 31 March 2025 143,811 26,755 94,736 22,320
NET BOOK VALUE
At 31 March 2025 53,193 2,247 47,616 3,330
At 31 March 2024 87,815 4,973 78,865 3,977

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 49,479 52,510
Other debtors 110,133 128,724
159,612 181,234

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 8,125 45,637
Taxation and social security 108,332 92,001
Other creditors 60,830 59,793
177,287 197,431

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
437 Ordinary A £1 437 437
100 Ordinary C £1 100 100
437 Ordinary D £1 437 437
974 974

9. ULTIMATE CONTROLLING PARTIES

Mr M Dunscombe and Mrs J Dunscombe directly control the company as a result of holding the majority of the issued share capital between them.