0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 184,516 184,516 184,516 xbrli:pure xbrli:shares iso4217:GBP 08702518 2023-01-01 2023-12-31 08702518 2023-12-31 08702518 2022-12-31 08702518 2022-01-01 2022-12-31 08702518 2022-12-31 08702518 2021-12-31 08702518 bus:Director2 2023-01-01 2023-12-31 08702518 core:WithinOneYear 2023-12-31 08702518 core:WithinOneYear 2022-12-31 08702518 core:AfterOneYear 2023-12-31 08702518 core:AfterOneYear 2022-12-31 08702518 core:ShareCapital 2023-12-31 08702518 core:ShareCapital 2022-12-31 08702518 core:RetainedEarningsAccumulatedLosses 2023-12-31 08702518 core:RetainedEarningsAccumulatedLosses 2022-12-31 08702518 core:LandBuildings 2023-12-31 08702518 core:LandBuildings 2022-12-31 08702518 bus:SmallEntities 2023-01-01 2023-12-31 08702518 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08702518 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08702518 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08702518 bus:FullAccounts 2023-01-01 2023-12-31 08702518 core:AllAssociates 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08702518
M.A.E.M. Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
M.A.E.M. Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
184,516
184,516
Current assets
Debtors
6
450
400
Cash at bank and in hand
1,701
673
-------
-------
2,151
1,073
Creditors: amounts falling due within one year
7
61,958
58,965
--------
--------
Net current liabilities
59,807
57,892
---------
---------
Total assets less current liabilities
124,709
126,624
Creditors: amounts falling due after more than one year
8
96,019
101,419
---------
---------
Net assets
28,690
25,205
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
28,689
25,204
--------
--------
Shareholders funds
28,690
25,205
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M.A.E.M. Limited
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 22 September 2024 , and are signed on behalf of the board by:
Mr M J Athey
Director
Company registration number: 08702518
M.A.E.M. Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Bowling Green View, Drighlington, BD11 1JP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity. The financial statements are prepared on the going concern basis because the directors have indicated that they will continue to support the company and not withdraw the balances on their loan accounts until such time as the withdrawal can be made without affecting the company's ability to continue to trade .
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
The turnover is derived from the rental of units within the investment properties held.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
The investment property is shown in the balance sheet at fair value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2.
5. Tangible assets
Investment property
£
Cost
At 1 January 2023 and 31 December 2023
184,516
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
184,516
---------
At 31 December 2022
184,516
---------
The directors consider that the market value of the investment properties at the balance sheet date is the same as their original cost.
6. Debtors
2023
2022
£
£
Trade debtors
450
400
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,317
6,317
Corporation tax
817
1,016
Other creditors
54,824
51,632
--------
--------
61,958
58,965
--------
--------
The bank loans and overdrafts are secured by a charge over the company's assets.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
96,019
101,419
--------
---------
The bank loans and overdrafts are secured by a charge over the company's assets.
The bank loan is repayable in instalments, including £74,749.00 which falls due for repayment more than five years from the balance sheet date.
9. Directors' advances, credits and guarantees
There are no transactions with the directors that require disclosure under section 413 of the Companies Act 2006.
10. Related party transactions
The company was under the control of the directors throughout the period. The company received rental income of £7,600 (2022: £7,200) from a business in which Ms E R Mullineaux has a controlling interest. The rental was at market rate. There was no balance outstanding between the businesses at the period end. Included in "Other Creditors: amounts falling due within one year" (note 8) are amounts totalling £53,446 (2022: £51,082) due to the directors. The amounts are unsecured, interest free and repayable on demand. The directors have given personal guarantees of up to £119,558 to support the bank borrowings.