REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2025 |
for |
MAQ (AIR CONDITIONING) LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2025 |
for |
MAQ (AIR CONDITIONING) LIMITED |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Contents of the Financial Statements |
for the Year Ended 31 January 2025 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MAQ (AIR CONDITIONING) LIMITED |
Company Information |
for the Year Ended 31 January 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 Pickering House |
Netherton Road |
Wishaw |
ML2 0EQ |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Abridged Balance Sheet |
31 January 2025 |
31.1.25 | 31.1.24 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Abridged Balance Sheet - continued |
31 January 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Notes to the Financial Statements |
for the Year Ended 31 January 2025 |
1. | STATUTORY INFORMATION |
MAQ (AIR CONDITIONING) LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the consideration received or receivable, excluding value added tax. Turnover from the sale of goods is recognised at the date of sale, and turnover from the provision of services is recognised on completion of the service. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
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. |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2024 |
Additions |
At 31 January 2025 |
DEPRECIATION |
At 1 February 2024 |
Charge for year |
At 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
MAQ (AIR CONDITIONING) LIMITED (REGISTERED NUMBER: SC314817) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 February 2024 | 66,630 |
Additions | 10,500 |
At 31 January 2025 | 77,130 |
DEPRECIATION |
At 1 February 2024 | 10,435 |
Charge for year | 14,486 |
At 31 January 2025 | 24,921 |
NET BOOK VALUE |
At 31 January 2025 | 52,209 |
At 31 January 2024 | 56,195 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.25 | 31.1.24 |
£ | £ |
Hire purchase contracts | 47,264 | 54,382 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.25 | 31.1.24 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
7. | OTHER FINANCIAL COMMITMENTS |
Total future financial commitments which are not included in the balance sheet amount to £2,842. (At 31 January 2024 - £2,773). |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Creditors falling due within one year includes a directors loan account. The loan account was not overdrawn during the year. |
9. | ULTIMATE CONTROLLING PARTY |
W J Morrison has the largest shareholding in the company, however no individual shareholder has overall control of the company. |