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Registration number: 09788145

Maze MH Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Maze MH Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Maze MH Ltd

Company Information

Directors

Mrs Sarah Rose Martin

Mr Guy Edward Martin

Registered office

26b Tesla Court,
Innovation Way
Peterborough
PE2 6FL

 

Maze MH Ltd

(Registration number: 09788145)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

71,425

8,436

Current assets

 

Stocks

5

17,411

-

Debtors

6

10,081

34,407

Cash at bank and in hand

 

23,320

101,461

 

50,812

135,868

Creditors: Amounts falling due within one year

7

(13,602)

(28,953)

Net current assets

 

37,210

106,915

Total assets less current liabilities

 

108,635

115,351

Creditors: Amounts falling due after more than one year

7

(23,477)

(3,666)

Provisions for liabilities

(1,603)

(1,603)

Net assets

 

83,555

110,082

Capital and Reserves

 

Called up share capital

8

100

100

Retained Earnings

83,455

109,982

Shareholders' funds

 

83,555

110,082

For the financial year ending 30 September 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

 

Maze MH Ltd

(Registration number: 09788145)
Balance Sheet as at 30 September 2023

.........................................
Mr Guy Edward Martin
Director

   
     
 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
26b Tesla Court,
Innovation Way
Peterborough
PE2 6FL
England

These financial statements were authorised for issue by the Board on 17 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises 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.

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

Fixtures and fittings

20% straight line

Office equipment

20% straight line

Motor vehicles

20% straight line

Plant and machinery

20% straight line

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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).

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible Assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 October 2022

11,260

4,335

703

40,332

Additions

-

35,638

4,348

32,773

At 30 September 2023

11,260

39,973

5,051

73,105

Depreciation

At 1 October 2022

5,332

2,008

1,145

40,332

Charge for the year

1,705

745

143

6,554

At 30 September 2023

7,037

2,753

1,288

46,886

Carrying amount

At 30 September 2023

4,223

37,220

3,763

26,219

At 30 September 2022

5,928

2,327

181

-

Total
£

Cost or valuation

At 1 October 2022

56,630

Additions

72,759

At 30 September 2023

129,389

Depreciation

At 1 October 2022

48,817

Charge for the year

9,147

At 30 September 2023

57,964

Carrying amount

At 30 September 2023

71,425

At 30 September 2022

8,436

5

Stocks

2023
£

2022
£

Production supplies

17,411

-

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

Current

2023
£

2022
£

Trade Debtors

10,081

33,462

Other debtors

-

945

 

10,081

34,407

 

Maze MH Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

9,079

588

Taxation and social security

51

22,562

Accruals and deferred income

800

800

Other creditors

3,672

5,003

13,602

28,953

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

23,477

3,666

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

23,477

3,666