Maharg Limited 04865638 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is film production. Digita Accounts Production Advanced 6.30.9574.0 true 04865638 2022-09-01 2023-08-31 04865638 2023-08-31 04865638 core:CurrentFinancialInstruments 2023-08-31 04865638 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04865638 core:Non-currentFinancialInstruments 2023-08-31 04865638 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04865638 core:OtherPropertyPlantEquipment 2023-08-31 04865638 bus:SmallEntities 2022-09-01 2023-08-31 04865638 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04865638 bus:FullAccounts 2022-09-01 2023-08-31 04865638 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04865638 bus:RegisteredOffice 2022-09-01 2023-08-31 04865638 bus:Director1 2022-09-01 2023-08-31 04865638 bus:Director2 2022-09-01 2023-08-31 04865638 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04865638 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 04865638 core:PlantMachinery 2022-09-01 2023-08-31 04865638 countries:EnglandWales 2022-09-01 2023-08-31 04865638 2022-08-31 04865638 core:OtherPropertyPlantEquipment 2022-08-31 04865638 2021-09-01 2022-08-31 04865638 2022-08-31 04865638 core:CurrentFinancialInstruments 2022-08-31 04865638 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04865638 core:Non-currentFinancialInstruments 2022-08-31 04865638 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 04865638 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 04865638

Maharg Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Maharg Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Maharg Limited

Company Information

Directors

Mrs G Graham

Mr AS Graham

Registered office

Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

 

Maharg Limited

(Registration number: 04865638)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,124

5,174

Current assets

 

Debtors

5

12,000

-

Cash at bank and in hand

 

35,393

104,199

 

47,393

104,199

Creditors: Amounts falling due within one year

6

(29,588)

(49,405)

Net current assets

 

17,805

54,794

Total assets less current liabilities

 

24,929

59,968

Creditors: Amounts falling due after more than one year

6

(12,000)

(18,134)

Provisions for liabilities

(1,781)

(983)

Net assets

 

11,148

40,851

Capital and reserves

 

Called up share capital

100

100

Retained earnings

11,048

40,751

Shareholders' funds

 

11,148

40,851

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Maharg Limited

(Registration number: 04865638)
Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
Mrs G Graham
Director

.........................................
Mr AS Graham
Director

 

Maharg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD
England

These financial statements were authorised for issue by the Board on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Maharg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

Maharg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Maharg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

23,971

23,971

Additions

3,207

3,207

At 31 August 2023

27,178

27,178

Depreciation

At 1 September 2022

18,797

18,797

Charge for the year

1,257

1,257

At 31 August 2023

20,054

20,054

Carrying amount

At 31 August 2023

7,124

7,124

At 31 August 2022

5,174

5,174

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,000

-

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

6,000

5,866

Amounts owed to related parties

941

1,410

Taxation and social security

 

7,094

8,895

Accruals and deferred income

 

1,800

1,800

Corporation tax

 

13,753

31,434

 

29,588

49,405

 

Maharg Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

12,000

18,134

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,000

18,134

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,000

5,866