REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MAINCOR LIMITED |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MAINCOR LIMITED |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MAINCOR LIMITED |
COMPANY INFORMATION |
for the year ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Seven Stars House |
1 Wheler Road |
Coventry |
CV3 4LB |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
ABRIDGED BALANCE SHEET |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 5 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Capital redemption reserve | 7 |
Retained earnings | 7 |
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. |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
ABRIDGED BALANCE SHEET - continued |
30 June 2024 |
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 |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Maincor Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. |
Going concern |
On 1 July 2024, as part of a restructuring exercise, the entire trade and assets of the Company were hived up into a related group company, FloPlast Ltd. The Company became dormant from that date. The financial statements have been prepared on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Fixtures & fittings | - |
Motor vehicles | - |
Items are capitalised where their value exceeds £1,000. |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
The company uses short term forward currency contracts to reduce exposure to foreign exchange rates. |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
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. |
Financial instruments |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
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 July 2023 | 62,499 |
Transfer to ownership | (62,499 | ) |
At 30 June 2024 | - |
DEPRECIATION |
At 1 July 2023 | 18,736 |
Charge for year | 13,816 |
Transfer to ownership | (32,552 | ) |
At 30 June 2024 | - |
NET BOOK VALUE |
At 30 June 2024 | - |
At 30 June 2023 | 43,763 |
5. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 6,502 | 3,333 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Provided during year |
Balance at 30 June 2024 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A Ordinary | £1 | 41 | 41 |
B Ordinary | £1 | 21 | 21 |
D Ordinary | £1 | 20 | 20 |
6 | E Ordinary | £1 | 6 | 6 |
6 | F Ordinary | £1 | 6 | 6 |
94 | 94 |
On the 4 January 2024 the entire issued share capital was purchased by Wienerberger Limited. |
MAINCOR LIMITED (REGISTERED NUMBER: 06151719) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
7. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 July 2023 | 2,386,812 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 June 2024 | 2,764,560 |
8. | PENSION COMMITMENTS |
The pension charge of £47,795 (2023: £38,770) represents contributions to the defined contribution scheme. At the year end, contributions of £nil (2023: £3,000) were outstanding. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year R E Hickmott received £56,720 (2023: £20,000) in respect of dividends. |
During the year K Liscombe received £109,184 (2023: £117,996) in respect of dividends. |
10. | POST BALANCE SHEET EVENTS |
On 1 July 2024, as part of a restructuring exercise, the entire trade and assets of the Company were hived up into a related group company, FloPlast Ltd. The Company became dormant from that date. |
11. | ULTIMATE PARENT COMPANY AND PARENT COMPANY OF LARGER GROUP |
The Company is a subsidiary undertaking of Wienerberger Ltd, the immediate parent, and Wienerberger AG which is the ultimate parent company incorporated in Austria; but as Wienerberger AG is a listed company, with no controlling shareholders, there is no controlling party. |
The largest and smallest group in which the results of the Company are consolidated is that headed by Wienerberger AG. The consolidated financial statements of the group are available to the public and may be obtained from its registered address: |
Wienerberger AG |
Wienerbergerplatz 1 |
1100 Wien, Wienerberg City |
Austria |