REGISTERED NUMBER: 08252809 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 October 2024

for

MJ Yachting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A W Meiklejohn

REGISTERED OFFICE:

Avalon House Waltham Business Park

Brickyard Road, Swanmore

Southampton

Hampshire

REGISTERED NUMBER:

08252809 (England and Wales)

ACCOUNTANTS:

Butler & Co (Bishops Waltham) Limited

Chartered Accountants

Avalon House

Waltham Business Park

Brickyard Road, Swanmore

Southampton

Hampshire

SO32 2SA

FIXED ASSETS

Tangible assets

5

3,495

4,190

Investments

6

153,390

113,482

156,885

117,672

CURRENT ASSETS

Debtors

7

3,016

23,262

Cash at bank

162,496

73,676

165,512

96,938

CREDITORS

Amounts falling due within one year

8

144,061

111,989

NET CURRENT ASSETS/(LIABILITIES)

21,451

(15,051

)

TOTAL ASSETS LESS CURRENT LIABILITIES

178,336

102,621

CREDITORS

Amounts falling due after more than one year

9

(5,417

)

(10,417

)

PROVISIONS FOR LIABILITIES

(9,856

)

(1,741

)

NET ASSETS

163,063

90,463

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

162,963

90,363

SHAREHOLDERS' FUNDS

163,063

90,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 1 October 2025 and were signed by:

A W Meiklejohn - Director

1.	STATUTORY INFORMATION

MJ Yachting Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 25 years

Plant and machinery

-

20% reducing balance basis

Fixtures and equipment

-

20% reducing balance basis

Computer equipment

-

25% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments in precious metals

Investments in precious metals are measured at fair value with gains and losses charged to profit and loss. Deferred tax is provided for on gains where tax on capital gains is likely to be charged on the disposal of the investment. Deferred tax is not provided for on the investment of specific gold bullion which qualifies as UK legal tender.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

equipment

equipment

Totals

£

£

£

£

£

COST

At 1 November 2023

and 31 October 2024

1,732

12,020

792

3,105

17,649

DEPRECIATION

At 1 November 2023

208

9,943

578

2,730

13,459

Charge for year

69

415

42

169

695

At 31 October 2024

277

10,358

620

2,899

14,154

NET BOOK VALUE

At 31 October 2024

1,455

1,662

172

206

3,495

At 31 October 2023

1,524

2,077

214

375

4,190

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.10.24

31.10.23

£

£

Investments in precious metals

153,390

113,482

Investments in precious metals include investments in gold sovereign (UK), silver bars and silver Britannia.

If investments in precious metals were not revalued they would have been included at historical cost of £108,943 (2023 - £108,943).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

2,236

21,076

Other debtors

290

290

Prepayments

490

1,896

3,016

23,262

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

5,000

5,000

Payments on account

30,703

23,772

Tax

39,815

27,485

VAT

1,493

667

Directors' current accounts

63,650

52,065

Accrued expenses

3,400

3,000

144,061

111,989

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans - 2-5 years

5,417

10,417