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REGISTERED NUMBER: 11830692 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MAE HOLDINGS LIMITED

MAE HOLDINGS LIMITED (REGISTERED NUMBER: 11830692)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MAE HOLDINGS LIMITED

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTOR: Mr M A Spurling





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 11830692 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

MAE HOLDINGS LIMITED (REGISTERED NUMBER: 11830692)

ABRIDGED BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 825,000 950,000

CURRENT ASSETS
Debtors 57,169 49,000
Cash at bank 2,324 3,686
59,493 52,686
CREDITORS
Amounts falling due within one year 305,935 300,257
NET CURRENT LIABILITIES (246,442 ) (247,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

578,558

702,429

CREDITORS
Amounts falling due after more than one year 5 (696,079 ) (684,552 )

PROVISIONS FOR LIABILITIES - (5,116 )
NET (LIABILITIES)/ASSETS (117,521 ) 12,761

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve (98,076 ) 21,808
Retained earnings (19,545 ) (9,147 )
(117,521 ) 12,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MAE HOLDINGS LIMITED (REGISTERED NUMBER: 11830692)

ABRIDGED BALANCE SHEET - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 24 November 2023 and were signed by:





Mr M A Spurling - Director


MAE HOLDINGS LIMITED (REGISTERED NUMBER: 11830692)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023

1. STATUTORY INFORMATION

MAE Holdings 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared on the going concern basis as the director is of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

Turnover
Turnover comprises rental and service charge income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Government grants
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attaching to them; and
(b) the grants will be received.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

MAE HOLDINGS LIMITED (REGISTERED NUMBER: 11830692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 950,000
Revaluations (125,000 )
At 28 February 2023 825,000
NET BOOK VALUE
At 28 February 2023 825,000
At 28 February 2022 950,000

In the opinion of the director, investment property is stated at fair value at the reporting date.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loans 657,954 645,000

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 706,079 694,552

The bank loans comprises property mortgages amounting to £657,954 (2022 - £645,000) which are secured by way of a fixed and floating charge over the properties held by the company.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £2,492 (2022 - £2,492) to the director.

At the balance sheet date, the company owed £133,824 (2022 - £133,824) to Dendro Limited, a company connected by virtue of common control.

At the balance sheet date, the company was owed £51,000 (2022 - £49,000) by PCMM Holding Limited, a company connected by virtue of common control.