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REGISTERED NUMBER: 11059529 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MAYWINS LTD

MAYWINS LTD (REGISTERED NUMBER: 11059529)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


MAYWINS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S D Williams





SECRETARY: Mrs S E Williams





REGISTERED OFFICE: Riverside House
3 Place Farm
Wheathampstead
Hertfordshire
AL4 8SB





REGISTERED NUMBER: 11059529 (England and Wales)





ACCOUNTANTS: Heartwood Accountants Limited
Riverside House
3 Place Farm
Wheathampstead
Hertfordshire
AL4 8SB

MAYWINS LTD (REGISTERED NUMBER: 11059529)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 315,481 161,537

CURRENT ASSETS
Work in Progress - 13,780
Debtors 387,444 420,219
Cash at bank 343,771 147,828
731,215 581,827
CREDITORS
Amounts falling due within one year 527,336 406,445
NET CURRENT ASSETS 203,879 175,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

519,360

336,919

CREDITORS
Amounts falling due after more than one year (137,938 ) (147,861 )

PROVISIONS FOR LIABILITIES (78,870 ) (39,238 )
NET ASSETS 302,552 149,820

CAPITAL AND RESERVES
Called up share capital 220 210
Retained earnings 302,332 149,610
302,552 149,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Balance Sheet for the year ended 31 March 2024 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 12 April 2024 and were signed by:



S D Williams - Director


MAYWINS LTD (REGISTERED NUMBER: 11059529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Maywins Ltd 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 10% on cost
Computer & Office equipmt - 33% on cost

Work in progress
Work in progress has been included for work completed during the year.

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 balance sheet date.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 8 ) .

MAYWINS LTD (REGISTERED NUMBER: 11059529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 196,363
Additions 195,456
At 31 March 2024 391,819
DEPRECIATION
At 1 April 2023 34,826
Charge for year 41,512
At 31 March 2024 76,338
NET BOOK VALUE
At 31 March 2024 315,481
At 31 March 2023 161,537

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 38,863 20,693
Between one and five years 117,233 84,250
156,096 104,943

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 28,024 54,323
Between one and five years 3,164 58,745
31,188 113,068