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REGISTERED NUMBER: 07239467 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Mace Systems Limited

Mace Systems Limited (Registered number: 07239467)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mace Systems Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A Bond
M Harris





SECRETARY:





REGISTERED OFFICE: 3
Fairfield Close
Marshfield
Chippenham
SN14 8NH





REGISTERED NUMBER: 07239467 (England and Wales)





ACCOUNTANTS: Stephen Cook
5 Bella View Gardens
Glastonbury
Somerset
BA6 9HQ

Mace Systems Limited (Registered number: 07239467)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 311,710 311,710
311,710 311,710

CURRENT ASSETS
Debtors 6 185,859 250,511
Cash at bank and in hand 327,695 343,879
513,554 594,390
CREDITORS
Amounts falling due within one year 7 314,332 304,241
NET CURRENT ASSETS 199,222 290,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,932

601,859

CREDITORS
Amounts falling due after more than
one year

8

11,419

34,208
NET ASSETS 499,513 567,651

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 499,509 567,647
499,513 567,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Mace Systems Limited (Registered number: 07239467)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





M Harris - Director


Mace Systems Limited (Registered number: 07239467)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Mace Systems Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year 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 balance sheet date.


Mace Systems Limited (Registered number: 07239467)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 70,065 100,000 170,065
AMORTISATION
At 1 March 2023
and 29 February 2024 70,065 100,000 170,065
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - - -

Mace Systems Limited (Registered number: 07239467)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 311,710 78,897 390,607
DEPRECIATION
At 1 March 2023
and 29 February 2024 - 78,897 78,897
NET BOOK VALUE
At 29 February 2024 311,710 - 311,710
At 28 February 2023 311,710 - 311,710

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 185,009 250,511
Other debtors 850 -
185,859 250,511

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 8,181 58,933
Taxation and social security 203,785 151,733
Other creditors 82,366 73,575
314,332 304,241

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 11,419 34,208