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REGISTERED NUMBER: 06737372 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

MAYBANK PROJECTS LTD

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAYBANK PROJECTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTOR: Mr R Rimkus





REGISTERED OFFICE: 28 Dorset Street
London
W1U 8AS





REGISTERED NUMBER: 06737372 (England and Wales)





ACCOUNTANTS: S.D. Garner + Co Limited
Chartered Certified Accountants
92 Station Lane
Hornchurch
Essex
RM12 6LX

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,547 15,330
11,547 15,330

CURRENT ASSETS
Debtors 5 736,085 534,278
Cash at bank 140,990 100
877,075 534,378
CREDITORS
Amounts falling due within one year 6 674,623 336,811
NET CURRENT ASSETS 202,452 197,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,999

212,897

CREDITORS
Amounts falling due after more than one
year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES 10 (1,296 ) (1,147 )
NET ASSETS 196,870 185,917

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 196,869 185,916
SHAREHOLDERS' FUNDS 196,870 185,917

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

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

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

BALANCE SHEET - continued
31ST OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th April 2024 and were signed by:





Mr R Rimkus - Director


MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Maybank Projects 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 fees receivable from services and materials provided, net of Value Added Tax and is recognised when the company obtains the right to the consideration.

Tangible fixed assets
Land and buildings - Straight line over 9 years
Plant and machinery,etc - 33% on cost and 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 3 (2022 - 2 ) .

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st November 2022 20,873 22,608 43,481
Additions - 1,416 1,416
Disposals - (1,722 ) (1,722 )
At 31st October 2023 20,873 22,302 43,175
DEPRECIATION
At 1st November 2022 12,434 15,717 28,151
Charge for year 2,319 2,880 5,199
Eliminated on disposal - (1,722 ) (1,722 )
At 31st October 2023 14,753 16,875 31,628
NET BOOK VALUE
At 31st October 2023 6,120 5,427 11,547
At 31st October 2022 8,439 6,891 15,330

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 571,154 311,792
Amounts recoverable on contracts 137,087 201,254
Other debtors 10,000 -
Prepayments 11,844 15,232
730,085 528,278

Amounts falling due after more than one year:
Other debtors 6,000 6,000

Aggregate amounts 736,085 534,278

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) - 7,986
Trade creditors 409,453 81,707
Taxation and social security 168,613 80,795
Other creditors 96,557 166,323
674,623 336,811

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 15,833 25,833

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 7,986
Other finance loans - 128,923
Bounce Back loan 10,000 10,000
10,000 146,909

Amounts falling due between one and two years:
Other loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bounce Back loan 5,833 15,833

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 21,880
Between one and five years - 43,072
- 64,952

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 1,296 1,147

Deferred
tax
£   
Balance at 1st November 2022 1,147
Charge to Statement of Income and Retained Earnings during year 149
Balance at 31st October 2023 1,296

MAYBANK PROJECTS LTD (REGISTERED NUMBER: 06737372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

12. RELATED PARTY DISCLOSURES

Amounts owed to the director at the end of the financial year included in creditors totalled £7,085 (2022 included £19,946).

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Rimkus.