MJL Property & Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01911189 (England and Wales)

MJL Property & Holdings Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

Notes to the financial statements

5

Directors:

J C Lyon

S F Slayven

C M Lyon

L Slayven

Registered office:

Branton's Bridge

Bourne Road

Pode Hole

Spalding

Lincolnshire

PE11 3LL

Registered number:

01911189 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJL Property & Holdings Limited for the year ended 30 November 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MJL Property & Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of MJL Property & Holdings Limited and state those matters that we have agreed to state to the Board of Directors of MJL Property & Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJL Property & Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MJL Property & Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MJL Property & Holdings Limited. You consider that MJL Property & Holdings Limited 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 financial statements of MJL Property & Holdings Limited. 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 financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

12 September 2025

Fixed assets

Intangible assets

5

130,200

151,900

Investments

6

150,003

Investment property

7

2,255,603

2,192,390

2,535,806

2,494,293

Current assets

Stocks

278,000

310,608

Debtors

8

51,852

60,355

Investments

9

13,861

19,163

Cash at bank

4,939

5,493

348,652

395,619

Creditors

Amounts falling due within one year

10

1,196,500

1,187,216

Net current liabilities

(847,848

)

(791,597

)

Total assets less current liabilities

1,687,958

1,702,696

Creditors

Amounts falling due after more than one
year

11

426,001

444,013

Net assets

1,261,957

1,258,683

Capital and reserves

Called up share capital

14

24,005

Share premium

210,999

Capital redemption reserve

11,996

Retained earnings

1,014,957

1,011,683

Shareholders' funds

1,261,957

1,258,683

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

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

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

J C Lyon - Director

L Slayven - Director

1.	Statutory information

MJL Property & Holdings Limited 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.	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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about MJL Property & Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 December 2023

and 30 November 2024

217,000

Amortisation

At 1 December 2023

65,100

Charge for year

21,700

At 30 November 2024

86,800

Net book value

At 30 November 2024

130,200

At 30 November 2023

151,900

6.	Fixed asset investments

Shares in

group

undertaking

£

Cost

At 1 December 2023

and 30 November 2024

150,003

Net book value

At 30 November 2024

150,003

At 30 November 2023

150,003

7.	Investment property

Total

£

Fair value

At 1 December 2023

2,192,390

Additions

63,213

At 30 November 2024

2,255,603

Net book value

At 30 November 2024

2,255,603

At 30 November 2023

2,192,390

Fair value at 30 November 2024 is represented by:

£

Valuation in 2024

2,192,390

Valuation in 2025

63,213

2,255,603

If Investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

Cost

2,737,304

2,674,091

Aggregate depreciation

(316,985

)

(316,985

)

Property was valued on an open market basis on 16 May 2024 by Longstaff Chartered Surveyors .

Investment property includes a property currently under redevelopment. This property is currently held at cost being £505,603

8.

Debtors: amounts falling due within one year

2024

2023

£

Trade debtors

2,860

1,130

VAT

29,739

20,579

Deferred tax asset

Accelerated capital allowances

19,253

23,646

Prepayments and accrued income

-

15,000

51,852

60,355

9.	Current asset investments

2024

2023

£

Listed investments

13,861

19,163

10.

Creditors: amounts falling due within one year

2024

2023

£

Bank loans and overdrafts

11,714

10,576

Trade creditors

-

23,989

Amounts owed to group undertakings

1,152,958

1,124,609

Tax

5,698

4,766

Other creditors

1,750

-

Directors' loan accounts

16,795

Accruals and deferred income

7,585

6,481

1,196,500

1,187,216

11.

Creditors: amounts falling due after more than one year

2024

2023

£

Bank loans - 1-2 years

11,714

10,576

Bank loans - 2-5 years

35,142

31,729

Bank loans more 5 yr by instal

379,145

401,708

426,001

444,013

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

379,145

401,708

12.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

Bank loans

437,715

454,589

13.	Financial instruments at fair value

Financial assets measured at fair value through profit or loss £13,861 (2023- £19,163).

14.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

13,503

Ordinary A shares

£1

13,503

4,501

Ordinary B shares

£1

4,501

6,001

Ordinary C shares

£1

6,001

24,005