M_J_ONE_LIMITED - Accounts

M.J. ONE LIMITED - Company Information

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Company Registration No. 03623839 (England and Wales)

M J ONE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

M J ONE LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

2 - 3

Notes to the abbreviated accounts

4 - 7

M J ONE LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF M J ONE LIMITED FOR THE YEAR ENDED 30 JUNE 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 7 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M J One Limited for the Year ended 30 June 2015 set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of M J One Limited, as a body, in accordance with the terms of our engagement letter dated 13 July 2006.

It is your duty to ensure that M J One 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 M J One Limited. You consider that M J One Limited is exempt from the statutory audit requirement for the Year.

We have not been instructed to carry out an audit or a review of the financial statements of M J One 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.

Jackson Calvert

26 November 2015

Chartered Accountants

Bennett Corner House

33 Coleshill Street

Sutton Coldfield

West Midlands

B72 1SD

M J ONE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 2 -

2015

2014

Notes

Fixed assets

Intangible assets

Tangible assets

2,380,090

2,924,305

Investments

65,018

15,018

2,445,111

2,939,325

Current assets

Debtors

306,494

285,053

Cash at bank and in hand

70,517

8,887

377,011

293,940

Creditors: amounts falling due within one year

(319,396)

(480,010)

Net current assets/(liabilities)

57,615

(186,070)

Total assets less current liabilities

2,502,726

2,753,255

Creditors: amounts falling due after more than one year

(1,052,324)

(1,172,420)

Provisions for liabilities

(36,764)

(26,967)

1,413,638

1,553,868

Capital and reserves

Called up share capital

10,000

Profit and loss account

1,403,638

1,543,868

Shareholders' funds

1,413,638

1,553,868

M J ONE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 3 -

For the financial Year ended 30 June 2015 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 November 2015

Mr M Jackson

Director

Company Registration No. 03623839

M J ONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 4 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

No depreciation

Plant and machinery

6.67% Straight line

Computer equipment

20% Straight line

Fixtures, fittings & equipment

12.5% Straight line

Motor vehicles

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

M J ONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

Accounting policies

(Continued)

- 5 -

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Employee Succession Trust

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the company does not include the assets and liabilities of the Trust on its Balance Sheet to the extent that it considers that it will not retain any economic benefit from the assets of the Trust and will not have control of the rights or other access to those present economic benefits.

M J ONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 6 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 July 2014

658,225

3,082,308

15,018

3,755,551

Additions

60,000

83,182

50,000

193,182

Disposals

(577,486)

At 30 June 2015

718,225

2,588,004

65,018

3,371,247

Depreciation

At 1 July 2014

658,223

158,004

816,227

Charge for the period

59,999

49,910

109,909

At 30 June 2015

718,222

207,914

926,136

Net book value

At 30 June 2015

2,380,090

65,018

2,445,111

At 30 June 2014

2,924,305

15,018

2,939,325

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

JH Struktuurbewapening (Pty) Ltd

South Africa

Ordinary

100.00

Participating interests

Family Assets Protection Ltd

England and wales

Ordinary

33.33

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

JH Struktuurbewapening (Pty) Ltd

Investment property

160,425

Family Assets Protection Ltd

Inheritance tax consultants

3,843

3,743

M J ONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 7 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £92,388 (2014 - £154,228).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £752,324 (2014 - £872,420).

Share capital

2015

2014

Allotted, called up and fully paid

6,000 Ordinary shares of £1 each

6,000

2,500 Ordinary A shares of £1 each

2,500

1,500 Ordinary B shares of £1 each

1,500

10,000