MJP Conveyancing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08026741

MJP Conveyancing Limited

Unaudited financial statements

For the year ended

30 April 2025

MJP Conveyancing Limited

Statement of financial position

30 April 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		38,904		45,208

Current assets

Debtors	7	789,630	465,684
Cash at bank and in hand		825,040	623,421
		-----------	-----------
		1,614,670	1,089,105

Creditors: Amounts falling due within one year	8	( 691,465)		( 582,072)
		-----------		-----------
Net current assets			923,205		507,033
			---------		---------
Total assets less current liabilities			962,109		552,241

Creditors: Amounts falling due after more than one year	9		( 37,719)		( 34,559)

Provisions

Taxation including deferred tax		( 9,726)		( 11,302)

Accruals and deferred income	( 58,190)	( 13,315)
	---------	---------
Net assets	856,474	493,065
	---------	---------

Capital and reserves

Called up share capital	10	16	16
Capital redemption reserve		4	4
Profit and loss account		856,454	493,045
		---------	---------
Shareholders funds		856,474	493,065
		---------	---------

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 .

MJP Conveyancing Limited

Statement of financial position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

Mr D Pett

Director

Company registration number: 08026741

MJP Conveyancing 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 69 - 75 Thorpe Road, Norwich, Norfolk, NR1 1UA.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Motor vehicles	-	20% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 30 (2024: 29 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2024 and 30 April 2025	250,000
	---------
Amortisation
At 1 May 2024 and 30 April 2025	250,000
	---------
Carrying amount
At 30 April 2025	–
	---------
At 30 April 2024	–
	---------

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 May 2024	41,283	49,088	90,371
Additions	–	4,088	4,088
Disposals	–	( 199)	( 199)
	-------	-------	-------
At 30 April 2025	41,283	52,977	94,260
	-------	-------	-------
Depreciation
At 1 May 2024	688	44,475	45,163
Charge for the year	8,257	2,135	10,392
Disposals	–	( 199)	( 199)
	-------	-------	-------
At 30 April 2025	8,945	46,411	55,356
	-------	-------	-------
Carrying amount
At 30 April 2025	32,338	6,566	38,904
	-------	-------	-------
At 30 April 2024	40,595	4,613	45,208
	-------	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	10,081	5,152
Amounts owed by group undertakings	125,300	–
Prepayments and accrued income	172,682	99,000
Directors loan account	211,872	160,258
Amounts recoverable on contracts	256,700	189,833
Other debtors	12,995	11,441
	---------	---------
	789,630	465,684
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	300,829	334,965
Social security and other taxes	270,394	84,656
Amount owed to associated undertaking	–	24,700
Other creditors	120,242	137,751
	---------	---------
	691,465	582,072
	---------	---------

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	37,719	34,559
	-------	-------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	8	8	8	8
Ordinary A shares of £ 1 each	2	2	2	2
Ordinary B shares of £ 1 each	4	4	4	4
Ordinary C shares of £ 1 each	2	2	2	2
	----	----	----	----
	16	16	16	16
	----	----	----	----

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	6,162	16,732
Later than 1 year and not later than 5 years	4,948	4,183
	-------	-------
	11,110	20,915
	-------	-------

12. Directors' advances, credits and guarantees

During the year the directors borrowed a maximum amount of £287,272 (2024: £167,105). Interest of £4,598 (2024: £2,432) was charged on the loans. The balance at the year end owing by the directors was £211,872 (2024: £160,258).