MBJSC (Properties) Limited - Limited company accounts 25.1

REGISTERED NUMBER: 04552370 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

MBJSC (PROPERTIES) LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

7

Notes to the Financial Statements

8

DIRECTORS:

Mr S E Cornwell

Mrs M D Blair-Cornwell

SECRETARY:

Mrs M D Blair-Cornwell

REGISTERED OFFICE:

Janelle House

Hartham Lane

Hertford

Hertfordshire

SG14 1QN

REGISTERED NUMBER:

04552370 (England and Wales)

ACCOUNTANTS:

Gary J Cansick & Co

Chartered Accountants

Janelle House

6 Hartham Lane

Hertford

Hertfordshire

SG14 1QN

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of purchase, and subsequent rental, of residential property.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

Mr S E Cornwell

Mrs M D Blair-Cornwell

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs M D Blair-Cornwell - Director

27 October 2025

TURNOVER

23,046

26,828

Cost of sales

19,961

13,485

GROSS PROFIT

3,085

13,343

Administrative expenses

(27,056

)

1,915

OPERATING PROFIT

30,141

11,428

Profit/loss on investment property revaluation

4

45,000

29,000

(14,859

)

(17,572

)

Interest payable and similar expenses

36,244

26,227

LOSS BEFORE TAXATION

(51,103

)

(43,799

)

Tax on loss

(12,791

)

(5,510

)

LOSS FOR THE FINANCIAL YEAR

(38,312

)

(38,289

)

LOSS FOR THE YEAR

(38,312

)

(38,289

)

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

(38,312

)

(38,289

)

FIXED ASSETS

Investments

5

2

Investment property

6

510,000

755,000

510,002

755,002

CURRENT ASSETS

Debtors

7

1,100

Cash at bank

561

624

1,661

1,724

CREDITORS

Amounts falling due within one year

8

502,909

625,532

NET CURRENT LIABILITIES

(501,248

)

(623,808

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

8,754

131,194

PROVISIONS FOR LIABILITIES

-

20,740

NET ASSETS

8,754

110,454

CAPITAL AND RESERVES

Called up share capital

100

Non distributable reserves

115,668

218,035

Retained earnings

(107,014

)

(107,681

)

SHAREHOLDERS' FUNDS

8,754

110,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by:

Mr S E Cornwell - Director

Mrs M D Blair-Cornwell - Director

Called up

Non

share

Retained

distributable

Total

capital

earnings

reserves

equity

£

Balance at 1 February 2023

100

(92,882

)

241,525

148,743

Changes in equity

Total comprehensive income

-

(14,799

)

(23,490

)

(38,289

)

Balance at 31 January 2024

100

(107,681

)

218,035

110,454

Changes in equity

Total comprehensive income

-

667

(102,367

)

(101,700

)

Balance at 31 January 2025

100

(107,014

)

115,668

8,754

1.	STATUTORY INFORMATION

MBJSC (Properties) 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of rents received or receivable, excluding discounts, rebates and value added tax.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	EXCEPTIONAL ITEMS

31.1.25

31.1.24

£

Profit/loss on investment property revaluation

(45,000

)

(29,000

)

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2024

and 31 January 2025

2

NET BOOK VALUE

At 31 January 2025

2

At 31 January 2024

2

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

755,000

Disposals

(200,000

)

Revaluations

(45,000

)

At 31 January 2025

510,000

NET BOOK VALUE

At 31 January 2025

510,000

At 31 January 2024

755,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2013

56,275

Valuation in 2015

17,500

Valuation in 2017

105,000

Valuation in 2018

28,826

Valuation in 2019

(6,124

)

Valuation in 2020

10,980

Valuation in 2021

31,340

Valuation in 2023

23,978

Valuation in 2024

(29,000

)

Valuation in 2025

(123,107

)

Cost

394,332

510,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.1.25

31.1.24

£

Cost

394,332

516,225

Investment properties were valued on an open market basis on 31 January 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Other debtors

1,100

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Bank loans and overdrafts

316,056

415,394

Other creditors

186,853

210,138

502,909

625,532

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

Bank loans

316,056

415,394

The bank loans are secured by way of a charge on the investment properties owned by the company and a floating charge on all other assets, present and future, of the company.

10.	RELATED PARTY DISCLOSURES

MBJSC (Holdings) Limited

A company under common control

At the year end the company owed £181,066 (2024 - £201,890) to the related party.