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REGISTERED NUMBER: 14035076 (England and Wales)















Unaudited Financial Statements

for the Period 8 April 2022 to 31 August 2023

for

MAC 10 Ltd

MAC 10 Ltd (Registered number: 14035076)






Contents of the Financial Statements
for the Period 8 April 2022 to 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MAC 10 Ltd

Company Information
for the Period 8 April 2022 to 31 August 2023







Director: M Cleaver





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 14035076 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

MAC 10 Ltd (Registered number: 14035076)

Statement of Financial Position
31 August 2023

Notes £    £   
Fixed assets
Intangible assets 4 22,500
Tangible assets 5 8,699
31,199

Current assets
Stocks 3,087
Debtors 6 100
Cash at bank and in hand 50,809
53,996
Creditors
Amounts falling due within one year 7 157,367
Net current liabilities (103,371 )
Total assets less current liabilities (72,172 )

Capital and reserves
Called up share capital 8 100
Retained earnings (72,272 )
Shareholders' funds (72,172 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

MAC 10 Ltd (Registered number: 14035076)

Statement of Financial Position - continued
31 August 2023


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

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 5 April 2024 and were signed by:





M Cleaver - Director


MAC 10 Ltd (Registered number: 14035076)

Notes to the Financial Statements
for the Period 8 April 2022 to 31 August 2023

1. Statutory information

MAC 10 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Catering equipment - 20% on cost
Fixtures, fittings & equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.


MAC 10 Ltd (Registered number: 14035076)

Notes to the Financial Statements - continued
for the Period 8 April 2022 to 31 August 2023

2. Accounting policies - continued
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 period 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.

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

Going concern
The financial statements are prepared on the going concern basis on the assumption that the director will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 August 2023.

3. Employees and directors

The average number of employees during the period was 10 .

4. Intangible fixed assets
Franchise
fees
£   
Cost
Additions 25,000
At 31 August 2023 25,000
Amortisation
Amortisation for period 2,500
At 31 August 2023 2,500
Net book value
At 31 August 2023 22,500

MAC 10 Ltd (Registered number: 14035076)

Notes to the Financial Statements - continued
for the Period 8 April 2022 to 31 August 2023

5. Tangible fixed assets
Fixtures,
Catering fittings
equipment & equipment Totals
£    £    £   
Cost
Additions 9,914 960 10,874
At 31 August 2023 9,914 960 10,874
Depreciation
Charge for period 1,983 192 2,175
At 31 August 2023 1,983 192 2,175
Net book value
At 31 August 2023 7,931 768 8,699

6. Debtors: amounts falling due within one year
£   
Amounts owed by group undertakings 100

7. Creditors: amounts falling due within one year
£   
Trade creditors 9,497
Taxation and social security 1,295
Other creditors 146,575
157,367

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary shares £1 100

100 Ordinary shares were issued at par for cash upon incorporation.

9. Financial commitments

At 31 August 2023 the company had total commitments under non-cancellable operating leases over the remaining term of the leases of £55,250 of which £13,000 is due within one year.

10. Related party disclosures

During the period the director made loans to the company. The balance on these loans at 31 August 2023 was £25,331. These are interest-free and repayable on demand.