Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 27 February 2022 false 1 March 2023 28 February 2024 28 February 2024 13942688 Mr S E Gill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13942688 2023-02-28 13942688 2024-02-28 13942688 2023-03-01 2024-02-28 13942688 frs-core:CurrentFinancialInstruments 2024-02-28 13942688 frs-core:ComputerEquipment 2024-02-28 13942688 frs-core:ComputerEquipment 2023-03-01 2024-02-28 13942688 frs-core:ComputerEquipment 2023-02-28 13942688 frs-core:MotorVehicles 2024-02-28 13942688 frs-core:MotorVehicles 2023-03-01 2024-02-28 13942688 frs-core:MotorVehicles 2023-02-28 13942688 frs-core:PlantMachinery 2024-02-28 13942688 frs-core:PlantMachinery 2023-03-01 2024-02-28 13942688 frs-core:PlantMachinery 2023-02-28 13942688 frs-core:ShareCapital 2024-02-28 13942688 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13942688 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13942688 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13942688 frs-bus:SmallEntities 2023-03-01 2024-02-28 13942688 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13942688 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13942688 frs-bus:Director1 2023-03-01 2024-02-28 13942688 frs-countries:EnglandWales 2023-03-01 2024-02-28 13942688 2022-02-26 13942688 2023-02-28 13942688 2022-02-27 2023-02-28 13942688 frs-core:CurrentFinancialInstruments 2023-02-28 13942688 frs-core:ShareCapital 2023-02-28 13942688 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13942688
Maverick Coatings Ltd
Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13942688
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,976 43,317
29,976 43,317
CURRENT ASSETS
Debtors 5 8,423 449
Cash at bank and in hand 2,290 1,244
10,713 1,693
Creditors: Amounts Falling Due Within One Year 6 (60,856 ) (75,273 )
NET CURRENT ASSETS (LIABILITIES) (50,143 ) (73,580 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,167 ) (30,263 )
NET LIABILITIES (20,167 ) (30,263 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (20,169 ) (30,265 )
SHAREHOLDERS' FUNDS (20,167) (30,263)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S E Gill
Director
4 June 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maverick Coatings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13942688 . The registered office is Unit A, Fauld Industrial Estate, Tutbury, Burton-On-Trent, Staffordshire, DE13 9HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 45,790 2,500 250 48,540
Additions 1,430 - - 1,430
Disposals (4,795 ) - (42 ) (4,837 )
As at 28 February 2024 42,425 2,500 208 45,133
Depreciation
As at 1 March 2023 4,834 313 76 5,223
Provided during the period 9,331 546 57 9,934
As at 28 February 2024 14,165 859 133 15,157
Net Book Value
As at 28 February 2024 28,260 1,641 75 29,976
As at 1 March 2023 40,956 2,187 174 43,317
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,210 -
Prepayments and accrued income - 449
Other taxes and social security 2,213 -
8,423 449
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,694 1,494
Other creditors 30,875 44,105
Accruals and deferred income 565 828
Director's loan account 27,722 28,846
60,856 75,273
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Related Party Transactions
At the year ended 28th February 2024 the company owed Mr S Gill, the Director £27,722 (2023 £28,846 owed to), this loan is interest free and repayable on demand.
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