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Registration number: 12920533

MJF Consulting Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2024

 

MJF Consulting Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

MJF Consulting Limited

Company Information

Director

Mr M J Fahy

Company secretary

Mrs J Fahy

Registered office

6 Betchworth Way
Macclesfield
Cheshire
SK10 2PA

Accountants

Arcadian Accounting & Consultancy Limited
15 Colstone Close
Wilmslow
Cheshire
SK9 2TF

 

MJF Consulting Limited

(Registration number: 12920533)
Abridged Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,828

2,935

Other financial assets

5

317,488

345,110

 

319,316

348,045

Current assets

 

Cash at bank and in hand

 

2,457

15,014

Creditors: Amounts falling due within one year

(335)

(525)

Net current assets

 

2,122

14,489

Total assets less current liabilities

 

321,438

362,534

Provisions for liabilities

(11,400)

(15,726)

Accruals and deferred income

 

(750)

(750)

Net assets

 

309,288

346,058

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

309,188

345,958

Shareholders' funds

 

309,288

346,058

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

MJF Consulting Limited

(Registration number: 12920533)
Abridged Balance Sheet as at 31 October 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 January 2025
 

.........................................
Mr M J Fahy
Director

 

MJF Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
6 Betchworth Way
Macclesfield
Cheshire
SK10 2PA
United Kingdom

These financial statements were authorised for issue by the director on 25 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency if these financial statement is British pound sterling. All amounts shown in these financial statements are rounded to the nearest whole pound.

Going concern

The financial statements have been prepared on a going concern basis.

Foreign currency transactions and balances

Transactions enacted in foreign currency are translated into GBP at the prevailing exchange rate on the date of the transaction. Balances held in foreign currencies at the end of the reporting period are translated into GBP using the prevailing rate at the balance sheet date.

 

MJF Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

4 years - straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions comprise deferred tax liabilities that have arisen due to the inclusion of income and expenses that have been assessed for tax in different periods to which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been substantively enacted by the balance sheet date and which are expected to apply to the reversal of the timing difference.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

MJF Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

MJF Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

4,428

4,428

At 31 October 2024

4,428

4,428

Depreciation

At 1 November 2023

1,493

1,493

Charge for the year

1,107

1,107

At 31 October 2024

2,600

2,600

Carrying amount

At 31 October 2024

1,828

1,828

At 31 October 2023

2,935

2,935

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2023

345,110

345,110

Fair value adjustments

(27,622)

(27,622)

At 31 October 2024

317,488

317,488

Impairment

Carrying amount

At 31 October 2024

317,488

317,488

6

Share capital

Allotted, called up and fully paid shares

 

MJF Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

2024

2023

No.

£

No.

£

Ordinary share of £1 each

-

-

-

-

A Ordinary shares of £1 each

80

80

80

80

B Ordinary shares of £1 each

20

20

20

20

100

100

100

100

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £62.50 (2023 - £717.06) per each A Ordinary shares

5,000

57,365

Interim dividend of £Nil per each Ordinary share

-

-

Interim dividend of £250.00 (2023 - £531.75) per each B Ordinary shares

5,000

10,635

10,000

68,000