ACCOUNTS - Final Accounts preparation

Registered number: NI606208

M&J Clinical Associates Ltd

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

M&J Clinical Associates Ltd

Registered number: NI606208

Balance Sheet

As at 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		-		428
			-		428
Current assets
Debtors: amounts falling due within one year	6	20,482		1,116
Cash at bank and in hand	7	2,288		43,114
		22,770		44,230
Creditors: amounts falling due within one year	8	(14,383)		(22,944)
Net current assets			8,387		21,286
Total assets less current liabilities			8,387		21,714
Creditors: amounts falling due after more than one year	9		(620)		(3,269)

Net assets			7,767		18,445

Capital and reserves
Called up share capital	10	2	2
Profit and loss account		7,765	18,443
		7,767	18,445

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M&J Clinical Associates Ltd

Registered number: NI606208

Balance Sheet (continued)

As at 31 March 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2025.

Dr Modestas Jarutis

Director

The notes on pages 3 to 7 form part of these financial statements.

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M&J Clinical Associates Ltd

Notes to the Financial Statements

For the Year Ended 31 March 2025

1.	General information

M&J Clinical Associates Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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M&J Clinical Associates Ltd

Notes to the Financial Statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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M&J Clinical Associates Ltd

Notes to the Financial Statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Equipment

20%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

3.	Going Concern

The Directors of M&J Clinical Associates Ltd have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future.
The Directors have considered the financial position at the year end and believe that the Company will have sufficient resources to meet its liabilities as they fall due either from its own resources or ongoing support from directors for at least one year from the date of approval of these financial statements.
Accordingly, M&J Clinical Associates Ltd continues to adopt the going concern basis in preparing the financial statements.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2)

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M&J Clinical Associates Ltd

Notes to the Financial Statements

For the Year Ended 31 March 2025

5.	Tangible fixed assets

		Equipment
		£
	Cost or valuation
	At 1 April 2024	6,724
	At 31 March 2025	6,724
	Depreciation
	At 1 April 2024	6,296
	Charge for the year on owned assets	428
	At 31 March 2025	6,724
	Net book value
	At 31 March 2025	-
	At 31 March 2024	428

6.	Debtors: amounts falling due within one year

					2025	2024
					£	£


Trade debtors	18,462	-
Other debtors	842	-
Prepayments and accrued income	1,178	1,116

7.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	2,288	43,114

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M&J Clinical Associates Ltd

Notes to the Financial Statements

For the Year Ended 31 March 2025

8.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Bank loans	2,768	2,768
Corporation tax	4,840	4
Other creditors	125	16,872
Accruals and deferred income	6,650	3,300
	14,383	22,944

9.	Creditors: amounts falling due after more than one year
		2025	2024
		£	£

	Bank loans	620	3,269

10.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2 (2024 - 2) Ordinary shares of £1.00 each	2	2

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