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Company registration number: 04828278
Maple Controls Limited
Unaudited filleted financial statements
31 March 2024
Maple Controls Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Maple Controls Limited
Directors and other information
Director Mr C Nightingale
Secretary Mrs S Nightingale
Company number 04828278
Registered office Rosegarth House
7a Prospect Road
Ossett
West Yorkshire
WF5 8AN
Accountants Streets Andrew Wright
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Maple Controls Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 63,981 61,819
_______ _______
63,981 61,819
Current assets
Stocks 45,210 54,498
Debtors 6 221,219 253,603
Cash at bank and in hand 111,294 58,082
_______ _______
377,723 366,183
Creditors: amounts falling due
within one year 7 ( 101,176) ( 127,818)
_______ _______
Net current assets 276,547 238,365
_______ _______
Total assets less current liabilities 340,528 300,184
Creditors: amounts falling due
after more than one year 8 ( 5,570) ( 16,907)
Provisions for liabilities ( 15,995) ( 11,745)
_______ _______
Net assets 318,963 271,532
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account 318,763 271,332
_______ _______
Shareholders funds 318,963 271,532
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
Mr C Nightingale
Director
Company registration number: 04828278
Maple Controls Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Rosegarth House, 7a Prospect Road, Ossett, West Yorkshire, WF5 8AN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 33.33 % straight line
Plant and machinery - 15 % reducing balance
Furniture and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Computer equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 13 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Tangible assets - user defined Total
£ £ £ £ £ £
Cost
At 1 April 2023 15,810 19,083 21,970 133,439 38,516 228,818
Additions - - - 27,450 - 27,450
Disposals - - - ( 25,559) - ( 25,559)
_______ _______ _______ _______ _______ _______
At 31 March 2024 15,810 19,083 21,970 135,330 38,516 230,709
_______ _______ _______ _______ _______ _______
Depreciation
At 1 April 2023 15,810 17,716 19,508 81,183 32,782 166,999
Charge for the year - 205 369 19,288 2,867 22,729
Disposals - - - ( 23,000) - ( 23,000)
_______ _______ _______ _______ _______ _______
At 31 March 2024 15,810 17,921 19,877 77,471 35,649 166,728
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 - 1,162 2,093 57,859 2,867 63,981
_______ _______ _______ _______ _______ _______
At 31 March 2023 - 1,367 2,462 52,256 5,734 61,819
_______ _______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 151,378 150,569
Other debtors 69,841 103,034
_______ _______
221,219 253,603
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 8,756 18,503
Corporation tax 40,754 49,991
Social security and other taxes 4,083 5,974
Other creditors 47,583 53,350
_______ _______
101,176 127,818
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 5,570 16,907
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr C Nightingale ( 2,082) 518 ( 1,564)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr C Nightingale ( 2,708) 626 ( 2,082)
_______ _______ _______
10. Controlling party
The director is the controlling party of the company.