MHJ Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09263785 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

MHJ ASSOCIATES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr S M Zaidi

Mrs D Zaidi

REGISTERED OFFICE:

c/o Cox Costello

Josephs Well

Suite 2C, Hanover Walk, Westgate

Leeds

West Yorkshire

LS3 1AB

REGISTERED NUMBER:

09263785 (England and Wales)

ACCOUNTANTS:

Shenward (Leeds) Limited

Chartered Accountants & Business Advisors

Suite 2C Josephs Well

Hanover Walk

Leeds

West Yorkshire

LS3 1AB

CURRENT ASSETS

Debtors

5

165

312

Cash at bank and in hand

2,008

4,199

2,173

4,511

CREDITORS

Amounts falling due within one year

6

6,404

4,045

NET CURRENT (LIABILITIES)/ASSETS

(4,231

)

466

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,231

)

466

CAPITAL AND RESERVES

Called up share capital

7

101

101

Retained earnings

(4,332

)

365

SHAREHOLDERS' FUNDS

(4,231

)

466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2018 and were signed on its behalf by:

Dr S M Zaidi - Director

1.	STATUTORY INFORMATION

MHJ Associates Limited is a private company, limited by shares , registered in England and Wales. The

company's 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and

are based on experience and other factors, including expectations of future events that are believed to be

reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the

asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a

financing transaction, where the debt instrument is measured at the present value of the future payments

discounted at a market rate of interest. Financial liabilities classified as payable within one year are not

amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The company

therefore continues to adopt the going concern basis in preparing its financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

165

312

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade creditors

-

170

Tax

2,856

1,916

Other creditors

233

1

Directors' current accounts

3,300

1,941

Accruals and deferred income

15

17

6,404

4,045

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.17

31.10.16

value:

£

£

100

Ordinary

1

100

100

1

Ordinary A

1

1

1

101

101

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Suhail Zaidi due to his position as a director and majority shareholder in the

company.

9.	GOING CONCERN

The balance sheet shows a negative position of £4,231. The directors have pledged their support for at least 12

months from the date the financial statements were approved and therefore the accounts have been prepared

on a going concern basis.