Company registration number 09028892 (England and Wales)
MEG MAITLAND LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
MEG MAITLAND LTD
COMPANY INFORMATION
Director
M. E. Maitland
Company number
09028892
Registered office
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
Accountants
Greaves West & Ayre
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
MEG MAITLAND LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet and notes to the financial statements
4 - 5
MEG MAITLAND LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The director presents her annual report and financial statements for the year ended 31 May 2024.

Principal activities

The principal activity of the company is retail sale of clothing in specialised stores.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

M. E. Maitland

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

On behalf of the board
M. E. Maitland
Director
13 February 2025
MEG MAITLAND LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MEG MAITLAND LTD FOR THE YEAR ENDED 31 MAY 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meg Maitland Ltd for the year ended 31 May 2024, which comprise the profit and loss account and the balance sheet, from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Meg Maitland Ltd, as a body, in accordance with the terms of our engagement letter dated 14 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Meg Maitland Ltd and state those matters that we have agreed to state to the board of directors of Meg Maitland Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meg Maitland Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Meg Maitland Ltd has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that Meg Maitland Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Meg Maitland Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Greaves West & Ayre
Chartered Accountants
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
13 February 2025
MEG MAITLAND LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2024
2023
£
£
Turnover
454,875
428,315
Cost of raw materials and consumables
(230,903)
(224,059)
Staff costs
(111,330)
(108,365)
Depreciation and other amounts written off assets
(8,222)
(6,814)
Other charges
(81,954)
(69,519)
Tax
(5,818)
(4,513)
Profit
16,648
15,045
MEG MAITLAND LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 4 -
2024
2023
£
£
£
£
Fixed assets
1,795
10,017
Current assets
51,825
51,128
Prepayments and accrued income
335
320
Creditors: amounts falling due within one year
(53,254)
(42,712)
Net current (liabilities)/assets
(1,094)
8,736
Total assets less current liabilities
701
18,753
Net assets
701
18,753
Capital and reserves
701
18,753
Notes to the financial statements
1
Director's benefits: advances, credit and guarantees

During the year the director was advance £72,688 (2023 £Nil) and repaid £58,976 (2023 £Nil). The maximum outstanding during the year was £60,358 (2023 £Nil). At the year end the director owed the company £1,382 (2023 £12,330 Company owed director)

 

The loan is unsecured, interest free and repayable on demand.

2
Employees

The average number of persons, including directors, employed by the company during the year was as follows:

2024
2023
Number
Number
Employees
9
9

Meg Maitland Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Walkergate, Berwick-upon-Tweed, Northumberland, TD15 1DJ.

For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

MEG MAITLAND LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 5 -

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 13 February 2025
M. E. Maitland
Director
Company registration number 09028892 (England and Wales)
MEG MAITLAND LTD
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
2024
2023
£
£
£
£
Turnover
Berwick
87,588
86,186
North Berwick
362,469
336,472
Online
4,819
5,654
454,876
428,312
Cost of sales
Opening stock
48,500
53,500
Purchases
228,903
219,059
277,403
272,559
Closing stock
(46,500)
(48,500)
(230,903)
(224,059)
Gross Profit
223,972
204,256
Administrative Expenses
Wages
101,229
97,432
Staff pension costs
1,091
1,143
Rent
17,000
17,000
Use of home as office
312
312
Rates
2,994
1,488
Heat and light
6,476
2,577
Repairs and maintenance
4,204
2,467
Insurances
2,567
2,558
Motor vehicle leasing
-
220
Motor expenses
2,611
4,009
Travel expenses
19,522
12,682
Postage, stationery, advertising and telephone
3,535
3,337
Accountancy
8,600
9,052
Bank charges
996
894
Credit card charges
6,726
6,087
General administration expenses
6,004
6,723
(183,867)
(167,981)
Balance Carried Forward
40,105
36,275
MEG MAITLAND LTD
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
2024
2023
£
£
£
£
Balance Brought Forward
40,105
36,275
Depreciation
Depreciation on intangible asset
2,500
2,500
Fixtures and fittings North Berwick
130
1,998
Office equipment
423
511
Website
641
892
Fixtures and fittings
448
913
Loss on sale of fixed assets
4,080
-
(8,222)
(6,814)
Directors Remuneration
Directors' salaries
9,000
9,750
N.I. on directors salaries
10
40
(9,010)
(9,790)
Operating Profit
22,873
19,671
Interest Payable
Bank interest paid
(407)
(113)
Net Profit for the Year
22,466
19,558
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