MJE Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07212452

MJE Properties Limited

Filleted Unaudited Financial Statements

30 April 2025

MJE Properties Limited

Statement of Financial Position

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	126	160
Investments	6	6,401	6,401
		-------	-------
		6,527	6,561

Current assets

Debtors	7	977,880	1,221,387
Cash at bank and in hand		13,876	302,041
		---------	------------
		991,756	1,523,428

Creditors: amounts falling due within one year	8	1,149,360		1,145,459
		------------		------------
Net current (liabilities)/assets			( 157,604)	377,969
			---------	---------
Total assets less current liabilities			( 151,077)	384,530
			---------	---------
Net (liabilities)/assets			( 151,077)	384,530
			---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 151,078)	384,529
	---------	---------
Shareholders (deficit)/funds	( 151,077)	384,530
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;

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

MJE Properties Limited

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 28 January 2026 , and are signed on behalf of the board by:

Mr J W Eynon

Director

Company registration number: 07212452

MJE Properties Limited

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Picton Lane, Swansea, SA1 4AF, Wales.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents sales during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & Fittings	-	15% reducing balance

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 May 2024 and 30 April 2025	1,420	1,420
	-------	-------
Depreciation
At 1 May 2024	1,260	1,260
Charge for the year	34	34
	-------	-------
At 30 April 2025	1,294	1,294
	-------	-------
Carrying amount
At 30 April 2025	126	126
	-------	-------
At 30 April 2024	160	160
	-------	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 May 2024 and 30 April 2025	6,401
	-------
Impairment
At 1 May 2024 and 30 April 2025	–
	-------

Carrying amount
At 30 April 2025	6,401
	-------
At 30 April 2024	6,401
	-------

7. Debtors

	2025	2024
	£	£
Other debtors	977,880	1,221,387
	---------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	4,259	–
Other creditors	1,145,101	1,145,459
	------------	------------
	1,149,360	1,145,459
	------------	------------

9. Directors' advances, credits and guarantees

Included in creditors at the year end is an amount of £265 (2024: debtor £419,027) owed to the Director to the Company .

10. Related party transactions

Thursday Property Ltd, an associated company, was provided with loans totalling £146,853 (2024: £246,646) during the year and repaid £45,166 (2024: £8,050). At 30 April 2025 the Company was owed £340,283. Penwith Cottage Ltd, an associated company, was provided with loans totalling £49,411 (2024: £443,643) during the year. At 30 April 2025 the Company was owed £493,054.