SJB Mortgage Solutions Limited Filleted accounts for Companies House (small and micro)

SJB MORTGAGE SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10796543

SJB Mortgage Solutions Limited

Filleted Unaudited Financial Statements

31 May 2022

SJB Mortgage Solutions Limited

Statement of Financial Position

31 May 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		1,388	1,851

Current assets

Debtors	6	10,329	2,194
Cash at bank and in hand		77,597	101,775
		--------	---------
		87,926	103,969

Creditors: amounts falling due within one year	7	23,987		35,084
		--------		---------
Net current assets			63,939	68,885
			--------	--------
Total assets less current liabilities			65,327	70,736

Provisions

Taxation including deferred tax	264	352
	--------	--------
Net assets	65,063	70,384
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	64,963	70,284
	--------	--------
Shareholders funds	65,063	70,384
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

SJB Mortgage Solutions Limited

Statement of Financial Position (continued)

31 May 2022

These financial statements were approved by the board of directors and authorised for issue on 8 December 2022 , and are signed on behalf of the board by:

Mr S J Bolton
Director

Company registration number: 10796543

SJB Mortgage Solutions Limited

Notes to the Financial Statements

Year ended 31 May 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whitegates, Church Hill, Ravensden, Bedford, MK44 2RL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Deferred taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 June 2021 and 31 May 2022	3,235	3,235
	-------	-------
Depreciation
At 1 June 2021	1,384	1,384
Charge for the year	463	463
	-------	-------
At 31 May 2022	1,847	1,847
	-------	-------
Carrying amount
At 31 May 2022	1,388	1,388
	-------	-------
At 31 May 2021	1,851	1,851
	-------	-------

6. Debtors

	2022	2021
	£	£
Trade debtors	9,710	2,194
Other debtors	619	–
	--------	-------
	10,329	2,194
	--------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	14,800	29,938
Social security and other taxes	–	184
Other creditors	9,187	4,962
	--------	--------
	23,987	35,084
	--------	--------

8. Other financial commitments

As at the balance sheet date the company had other financial commitments amounting to £30,890 (2021 - £ nil).