MBJ London Limited
Unaudited accounts
Contents
MBJ London Limited
Statement of financial position
as at
30 September 2018
Investments
21,600
21,600
Cash at bank and in hand
1,653
991
Creditors: amounts falling due within one year
(164,201)
(227,319)
Net current liabilities
(141,506)
(108,507)
Total assets less current liabilities
(119,048)
(85,995)
Provisions for liabilities
Other provisions
(41,166)
-
Net liabilities
(160,387)
(86,168)
Called up share capital
113,238
113,238
Share premium
652,582
652,582
Profit and loss account
(926,207)
(851,988)
Shareholders' funds
(160,387)
(86,168)
For the year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 June 2019.
T Horn
Director
Company Registration No. 07867169
MBJ London Limited
Notes to the Accounts
for the year ended 30 September 2018
MBJ London Limited is a private company, limited by shares, registered in England and Wales, registration number 07867169. The registered office is 7 Bell Yard, London, WC2A 2JR.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years
Computer equipment
3 years
Other tangible fixed assets
4 Years
Investments in shares are included at fair value.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MBJ London Limited
Notes to the Accounts
for the year ended 30 September 2018
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net current liabilities of £161,071 and net liabilities of £160,387. We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.
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Tangible fixed assets
Total
At 30 September 2018
3,695
Charge for the year
1,012
At 30 September 2018
2,837
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Deferred taxation
2018
2017
Accelerated capital allowances
173
173
Provision at start of year
173
2,300
Credited to the profit and loss account
-
(2,127)
Provision at end of year
173
173
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Transactions with related parties
The director charged the company rent of £208 (2017: £nil).
The directors also made an interest free loan to the company of £99,890 (2017: £42,380). The directors reserve the right to charge the company interest at any stage.
Included in these accounts is an investment in a subsidiary of £21,600 and a loan to the same subsidiary of £19,566. A provision has been made for both of these amounts as the subsidiary is loss making and is being wound up.
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Average number of employees
During the year the average number of employees was 10 (2017: 10).