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Registration number: NI665325

Maine Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Maine Group Ltd

(Registration number: NI665325)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

200

200

Current assets

 

Debtors

5

100

100

Creditors: Amounts falling due within one year

6

(200)

(200)

Net current liabilities

 

(100)

(100)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

7

100

100

Shareholders' funds

 

100

100

For the financial 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 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.

 

Maine Group Ltd

(Registration number: NI665325)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 16 May 2024 and signed on its behalf by:
 

.........................................
Mr Eugene Dixon
Director

.........................................
Mr Adrian Dixon
Director

 

Maine Group Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 5 Wattstown Business Park, Newbridge Road, Coleraine, Co. Antrim, BT52 1BS.

These financial statements were authorised for issue by the Board on 16 May 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.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Going concern

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Maine Group Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 January 2023

200

Provision

Carrying amount

At 31 December 2023

200

At 31 December 2022

200

 

Maine Group Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Premier Protective Coatings Ltd

12 Sandholes Road,
Cookstown,
BT80 9AR

Northern Ireland

Ordinary

100%

100%

Maine Plant and Equipment Ltd

Unit 5
Wattstown Business Park,
Coleraine,
BT52 1BS

Northern Ireland

Ordinary

100%

100%

Subsidiary undertakings

Premier Protective Coatings Ltd

The principal activity of Premier Protective Coatings Ltd is the sale of paint and powder coating products.

Maine Plant and Equipment Ltd

The principal activity of Maine Plant and Equipment Ltd has not commenced. It is a dormant company.

5

Debtors

Current

2023
£

2022
£

Other debtors

100

100

 

100

100

 

Maine Group Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

200

200

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100