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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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MJV & Co. Limited |
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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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for |
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MJV & Co. Limited |
MJV & Co. Limited (Registered number: 03570520) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 7 |
MJV & Co. Limited |
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Company Information |
for the Year Ended 31 October 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
22 St. Stephens Road |
Cold Norton |
Chelmsford |
Essex |
CM3 6JE |
MJV & Co. Limited (Registered number: 03570520) |
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Balance Sheet |
31 October 2021 |
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31.10.21 | 31.10.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
MJV & Co. Limited (Registered number: 03570520) |
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Balance Sheet - continued |
31 October 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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MJV & Co. Limited (Registered number: 03570520) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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MJV & Co. Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the invoiced amount of services provided, adjusted for items not yet invoiced at the year-end. |
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Tangible fixed assets |
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Furniture Fittings & Equipment | - |
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Fixtures & Fittings | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
MJV & Co. Limited (Registered number: 03570520) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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4. | TANGIBLE FIXED ASSETS |
Furniture |
Fittings | Fixtures | Computer |
& Equipment | & Fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2020 |
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Additions |
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At 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Charge for year |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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5. | DEBTORS |
31.10.21 | 31.10.20 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Harleyphysiotherapy short term | 2,144 | - |
Prepayments and accrued income |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.21 | 31.10.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 2,998 | 3,450 |
Other creditors |
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Pension Fund | 137 | - |
Michael J Ventham | (437 | ) | - |
Directors' current accounts | - | 4,570 |
Directors' loan accounts | 3,664 | - |
Accrued expenses |
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MJV & Co. Limited (Registered number: 03570520) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.21 | 31.10.20 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 22,000 | - |
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8. | CAPITAL COMMITMENTS |
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As at the balance sheet date there were no items contracted for but not provided for in the accounts, or approved but not provided for. |
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9. | RELATED PARTY DISCLOSURES |
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A. £59,500 \2020 £60,000) was charged to Michael J Ventham, a business of which M J Ventham, a director, is principal, in respect of administration costs incurred during the year. |
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B. £83,000 (2020 £40,000) was charged to Michael J Ventham, a business of which M J Ventham, a director, is principal, in respect of work carried out by employees of MJV & Co Ltd. |
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C. Charges of £20,850 (2020 £22,935 ) were charged by Michael J Ventham in respect of professional assistance provided. |
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D. At 31 October 2021 the company owed the Director £3,664 (2020 £4,570), |
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E. At 31 October 2021 £437 (2020 £9,149) was owing by Michael J Ventham, a business of which M J Ventham, a director, is principal. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is M J Ventham by virtue of the holding of B voting shares, a requirement of the Institute of Chartered Accountants. |
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11. | BANK LOANS |
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The Company benefited from a Coronavirus Bounce Back loan from Barclays Bank Limited. |
£4,000 is shown in current liabilities (2020 nil) and £46,000 (2020 £50,000) is shown in liabilities in greater than one year. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
MJV & Co. Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJV & Co. Limited for the year ended 31 October 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of MJV & Co. Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MJV & Co. Limited and state those matters that we have agreed to state to the director of MJV & Co. Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJV & Co. Limited and its director for our work or for this report. |
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It is your duty to ensure that MJV & Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MJV & Co. Limited. You consider that MJV & Co. Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of MJV & Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
22 St. Stephens Road |
Cold Norton |
Chelmsford |
Essex |
CM3 6JE |
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