Company No: 12096315 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.07.25		31.07.24
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	1,090		1,708
Investment property	5	2,149,820		2,149,820
		2,150,910		2,151,528
Current assets
Debtors	6	0		59,860
Cash at bank and in hand		25,330		12,288
		25,330		72,148
Creditors: amounts falling due within one year	7	( 788,029)		( 828,802)
Net current liabilities		(762,699)		(756,654)
Total assets less current liabilities		1,388,211		1,394,874
Creditors: amounts falling due after more than one year	8	( 1,275,354)		( 1,302,564)
Net assets		112,857		92,310
Capital and reserves
Called-up share capital		100		100
Profit and loss account		112,757		92,210
Total shareholders' funds		112,857		92,310

For the financial year ending 31 July 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of M J Rental Investments Limited (registered number: 12096315) were approved and authorised for issue by the Board of Directors on 29 April 2026. They were signed on its behalf by:

Shayne Gallagher Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M J Rental Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 230 Moston Lane, Manchester, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of M J Rental Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Prior year adjustment

During the year, the company reclassified properties with a carrying amount of £2,149,820 from tangible fixed assets (land and buildings) to investment property.

The reclassification was made because the properties are held to earn rentals, rather than for use in the company’s operations. This is consistent with the definition of investment property under FRS 102 Section 16.

In the prior year, dividends of £11,000 were included in the financial statements. The directors have since confirmed that dividends declared should have been £8,000. The overstatement of £4,000 has been reclassified to the director’s loan account within other creditors. Comparative figures have been restated accordingly. There is no impact on profit for the year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts derived from the provision of rental services during the period, net of VAT.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

In the prior year, property held to earn rentals was incorrectly included within tangible fixed assets. Following a review, these properties have been reclassified as investment property in accordance with FRS 102. Comparative figures have been restated accordingly. The reclassification for 31 July 2024 increases investment property to £2,149,820 and reduces tangible fixed assets to £1,708. There is no impact on profit or net assets.

In the prior year, dividends of £11,000 were included in the financial statements. The directors have since confirmed that dividends declared should have been £8,000. The overstatement of £4,000 has been reclassified to the director’s loan account within other creditors. Comparative figures have been restated accordingly. There is no impact on profit for the year.

		As previously reported		Adjustment		As restated
Year ended 31 July 2024		£		£		£
Tangible assets		2,151,528		(2,149,820)		1,708
Investment Property		0		2,149,820		2,149,820
Other creditors: Directors Loan Account		811,097		4,000		815,097
Dividends		11,000		(4,000)		7,000

3. Employees

	31.07.25		31.07.24
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		4

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 August 2024	3,514		3,514
Additions	295		295
At 31 July 2025	3,809		3,809
Accumulated depreciation
At 01 August 2024	1,806		1,806
Charge for the financial year	913		913
At 31 July 2025	2,719		2,719
Net book value
At 31 July 2025	1,090		1,090
At 31 July 2024	1,708		1,708

5. Investment property

	Investment property
	£
Valuation
As at 01 August 2024	2,149,820
As at 31 July 2025	2,149,820

During the year, the company reclassified properties with a carrying amount of £2,149,820 from tangible fixed assets (land and buildings) to investment property.

6. Debtors

	31.07.25		31.07.24
	£		£
Other debtors	0		59,860

7. Creditors: amounts falling due within one year

	31.07.25		31.07.24
	£		£
Bank loans (secured)	105,100		133,071
Amounts owed to Group undertakings	38,296		0
Amounts owed to related parties	581,348		599,944
Amounts owed to directors	40,353		37,263
Other loans	0		( 37,228)
Accruals	1,575		1,250
Taxation and social security	20,858		17,946
Other creditors	499		76,556
	788,029		828,802

During the year, the company had outstanding borrowings due within one year totalling £105,100, which are secured by a legal charge over the company’s property.

8. Creditors: amounts falling due after more than one year

	31.07.25		31.07.24
	£		£
Bank loans (secured)	1,275,354		1,302,564

During the year, the company had outstanding borrowings due within after one year totalling £1,242,154, which are secured by a legal charge over the company’s property.