M.J.M. Inns Limited - Accounts to registrar (filleted) - small 18.2
M.J.M. Inns Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2018 |
| for |
| M.J.M. Inns Limited |
| M.J.M. Inns Limited (Registered number: 03352674) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| M.J.M. Inns Limited |
| Company Information |
| for the Year Ended 31 May 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 328 Chatsworth Avenue |
| Cosham |
| Portsmouth |
| Hampshire |
| PO6 2UP |
| M.J.M. Inns Limited (Registered number: 03352674) |
| Balance Sheet |
| 31 May 2018 |
| 31.5.18 | 31.5.17 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| M.J.M. Inns Limited (Registered number: 03352674) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2018 |
| 1. | STATUTORY INFORMATION |
| M.J.M. Inns Limited is a |
| 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 |
| The financial statements relate to MJM Inns Limited as an individual entity. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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 |
| M.J.M. Inns Limited (Registered number: 03352674) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2017 |
| Additions |
| At 31 May 2018 |
| DEPRECIATION |
| At 1 June 2017 |
| Charge for year |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.18 | 31.5.17 |
| £ | £ |
| Other debtors |
| Deferred tax asset |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.18 | 31.5.17 |
| £ | £ |
| Trade creditors |
| VAT | 1,460 | 319 |
| Directors' current accounts | 211,792 | 211,044 |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.18 | 31.5.17 |
| value: | £ | £ |
| Ordinary | £1 | 100,000 | 100,000 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2017 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 May 2018 | ( |
) |
| M.J.M. Inns Limited (Registered number: 03352674) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2018 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2018 and |
| 31 May 2017: |
| 31.5.18 | 31.5.17 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr J F Molloy. |
| The ultimate controlling party is |
| 11. | GOING CONCERN |
| At 31 May 2018 the company had net liabilities of £41,637 (2017:£37,690). |
| The director has confirmed that he will continue to provide financial support to the company for the foreseeable |
| future and that he will not seek full repayment of his loan until the company is in a financial position to enable the |
| loan to be repaid. Included within the above, as detailed in the Creditors due within one year, are amounts owed |
| to the director of £211,792 (2017:£211,044). |
| The director has considered the future position of the company and is of the opinion that the company will |
| continue to trade within its existing facilities for the foreseeable future. |
| In view of the above the director considers that the going concern basis for the preparation of the accounts is |
| appropriate. |