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Registration number: SC619726

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MJW Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

MJW Group Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Financial Statements

5 to 9

 

MJW Group Ltd

Company Information

Directors

Martin James Webster

Lisa Webster

Registered office

India of Inchinnan Business Centre,
Upper West Wing No.3
Greenock Road
Inchinnan
PA4 9LH

Bankers

Barclays Bank
83 Argyle Street
Glasgow
G2 8BJ

Accountants

RGA Scotland Limited Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

MJW Group Ltd

Directors' Report for the Year Ended 28 February 2025

The directors present their report and the financial statements for the year ended 28 February 2025.

Directors of the company

The directors who held office during the year were as follows:

Martin James Webster

Lisa Webster

Principal activity

The principal activity of the company has been providing commercial services in the construction sector

Directors' responsibilities

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 Section 1A - Small Entities, the applicable Financial Reporting Standard. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

make judgements and accounting estimates that are reasonable and prudent;

select suitable accounting policies and apply them consistently;

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
Martin James Webster
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MJW Group Ltd
for the Year Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MJW Group Ltd for the year ended 28 February 2025 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of MJW Group Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of MJW Group Ltd and state those matters that we have agreed to state to the Board of Directors of MJW Group Ltd, as a body, in this report.

This is in accordance with the requirements of the ACCA and, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJW Group Ltd and its Board of Directors as a body for our work or for this report.
 

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

We have not been instructed to carry out an audit or a review of the accounts of MJW Group Ltd. 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 accounts.

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....................................................................

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

22 July 2025

 

MJW Group Ltd

(Registration number: SC619726)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

82,000

91,724

Current assets

 

Debtors

6

38,382

18,060

Cash at bank and in hand

 

168,045

102,180

 

206,427

120,240

Creditors: Amounts falling due within one year

7

(102,993)

(52,364)

Net current assets

 

103,434

67,876

Total assets less current liabilities

 

185,434

159,600

Creditors: Amounts falling due after more than one year

7

(101,063)

(71,360)

Provisions for liabilities

(18,860)

(17,428)

Net assets

 

65,511

70,812

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

65,411

70,712

Shareholders' funds

 

65,511

70,812

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
Martin James Webster
Director

 

MJW Group Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

1

General information

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

The address of its registered office is:
India of Inchinnan Business Centre,
Upper West Wing No.3
Greenock Road
Inchinnan
PA4 9LH

These financial statements were authorised for issue by the Board on 22 July 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 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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

MJW Group Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current and 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.

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 taxable 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

Fixtures, fittings, equipment

20-50% p.a reducing balance basis

Motor cars (all electric)

based on market value at year end

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

MJW Group Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 directors) during the year, was 2 (2024 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

10,064

3,411

 

MJW Group Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2024

10,955

98,775

109,730

Additions

332

-

332

At 28 February 2025

11,287

98,775

110,062

Depreciation

At 1 March 2024

8,255

9,743

17,998

Charge for the year

1,032

9,032

10,064

At 28 February 2025

9,287

18,775

28,062

Carrying amount

At 28 February 2025

2,000

80,000

82,000

At 29 February 2024

2,700

89,024

91,724

6

Debtors

Current

2025
£

2024
£

Trade debtors

23,335

13,250

Other debtors

15,047

4,810

 

38,382

18,060

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

15,121

10,842

Trade creditors

 

27,470

-

Taxation and social security

 

58,502

39,622

Accruals and deferred income

 

1,900

1,900

 

102,993

52,364

 

MJW Group Ltd

Notes to the Financial Statements for the Year Ended 28 February 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

101,063

71,360

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

60,247

18,755

Hire purchase contracts

40,816

52,605

101,063

71,360

Current loans and borrowings

2025
£

2024
£

Bank borrowings

15,758

3,000

Hire purchase contracts

12,014

12,014

Director current account

(12,651)

(4,172)

15,121

10,842