Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28falsetrue2023-03-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13895398 2023-03-01 2024-02-28 13895398 2022-02-04 2023-02-28 13895398 2024-02-28 13895398 2023-02-28 13895398 c:Director1 2023-03-01 2024-02-28 13895398 c:Director2 2023-03-01 2024-02-28 13895398 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-28 13895398 d:Buildings d:LongLeaseholdAssets 2024-02-28 13895398 d:Buildings d:LongLeaseholdAssets 2023-02-28 13895398 d:MotorVehicles 2023-03-01 2024-02-28 13895398 d:MotorVehicles 2024-02-28 13895398 d:MotorVehicles 2023-02-28 13895398 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13895398 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13895398 d:CurrentFinancialInstruments 2024-02-28 13895398 d:CurrentFinancialInstruments 2023-02-28 13895398 d:Non-currentFinancialInstruments 2024-02-28 13895398 d:Non-currentFinancialInstruments 2023-02-28 13895398 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 13895398 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13895398 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 13895398 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13895398 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-28 13895398 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 13895398 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-28 13895398 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 13895398 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-28 13895398 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 13895398 d:ShareCapital 2024-02-28 13895398 d:ShareCapital 2023-02-28 13895398 d:RetainedEarningsAccumulatedLosses 2024-02-28 13895398 d:RetainedEarningsAccumulatedLosses 2023-02-28 13895398 c:OrdinaryShareClass1 2023-03-01 2024-02-28 13895398 c:OrdinaryShareClass1 2024-02-28 13895398 c:OrdinaryShareClass1 2023-02-28 13895398 c:FRS102 2023-03-01 2024-02-28 13895398 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13895398 c:FullAccounts 2023-03-01 2024-02-28 13895398 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13895398 e:PoundSterling 2023-03-01 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13895398









MAINE PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
MAINE PROPERTY LIMITED
REGISTERED NUMBER: 13895398

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
660,998
333,129

  
660,998
333,129

Current assets
  

Debtors: amounts falling due within one year
 5 
-
550

Cash at bank and in hand
 6 
1,877
111,903

  
1,877
112,453

Creditors: amounts falling due within one year
 7 
(408,853)
(347,419)

Net current liabilities
  
 
 
(406,976)
 
 
(234,966)

Total assets less current liabilities
  
254,022
98,163

Creditors: amounts falling due after more than one year
 8 
(275,173)
(100,000)

  

Net liabilities
  
(21,151)
(1,837)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(21,251)
(1,937)

  
(21,151)
(1,837)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2024.

Page 1

 
MAINE PROPERTY LIMITED
REGISTERED NUMBER: 13895398
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2024




................................................
Wesley Seale
................................................
Paula Henry
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Maine Property Limited is a private company limited by shares, registered in the United Kingdom number 13895398. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP. During the year, the principal activity of the company was that of Other letting and operating of own or leased real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 March 2023
331,840
1,300
333,140


Additions
328,127
-
328,127



At 28 February 2024

659,967
1,300
661,267



Depreciation


At 1 March 2023
-
11
11


Charge for the year on owned assets
-
258
258



At 28 February 2024

-
269
269



Net book value



At 28 February 2024
659,967
1,031
660,998



At 28 February 2023
331,840
1,289
333,129


5.


Debtors

2024
2023
£
£


Other debtors
-
550

-
550


Page 5

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,877
111,903

1,877
111,903



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
11,029
-

Trade creditors
780
-

Other creditors
396,205
346,399

Accruals and deferred income
839
1,020

408,853
347,419


The following liabilities were secured:

2024
2023
£
£

Bank Loans


Bank Loans
11,029
-

11,029
-

Details of security provided:

The Bank loans of £11,029 are secured on the Leasehold Properties.

Page 6

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
275,173
100,000

275,173
100,000


The following liabilities were secured:

2024
2023
£
£

Bank Loans


Bank Loans
275,173
-

275,173
-

Details of security provided:

The Bank loans of £275,173 are secured on the Leasehold Properties.

Page 7

 
MAINE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,029
-


11,029
-

Amounts falling due 1-2 years

Bank loans
11,029
-


11,029
-

Amounts falling due 2-5 years

Bank loans
33,088
-


33,088
-

Amounts falling due after more than 5 years

Bank loans
231,055
100,000

231,055
100,000

286,201
100,000



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 8