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REGISTERED NUMBER: 10841756 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Maer Beach Limited

Maer Beach Limited (Registered number: 10841756)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Maer Beach Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M A Caines
R P Edwards
S G Edwards





REGISTERED OFFICE: 5 Barnfield Crescent
Exeter
Devon
EX1 1QT





REGISTERED NUMBER: 10841756 (England and Wales)





ACCOUNTANTS: Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Maer Beach Limited (Registered number: 10841756)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 5,030 5,779
Tangible assets 5 1,335,448 1,649,405
1,340,478 1,655,184

CURRENT ASSETS
Stocks 75,068 73,481
Debtors 6 131,347 202,156
Cash at bank and in hand 1,415 50,135
207,830 325,772
CREDITORS
Amounts falling due within one year 7 938,117 824,409
NET CURRENT LIABILITIES (730,287 ) (498,637 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,191

1,156,547

CREDITORS
Amounts falling due after more than one
year

8

700,000

700,000
NET (LIABILITIES)/ASSETS (89,809 ) 456,547

CAPITAL AND RESERVES
Called up share capital 1,926,000 1,926,000
Retained earnings (2,015,809 ) (1,469,453 )
(89,809 ) 456,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 26 March 2025 and were signed on its behalf by:



M A Caines - Director


Maer Beach Limited (Registered number: 10841756)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Maer Beach Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company ceased to trade on the 9 October 2024 and consequently the financial statements are not prepared on a going concern basis. The financial statements have been prepared on a basis other than going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Depreciation of the leasehold building, plant & machinery and fixtures and fittings will only be provided once the building works have been completed and the business is trading.

At each balance sheet date, the company reviews the carrying value of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Maer Beach Limited (Registered number: 10841756)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 51 (2022 - 68 ) .

Maer Beach Limited (Registered number: 10841756)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Patents and
licences
£
COST
At 1 January 2023
and 31 December 2023 7,486
AMORTISATION
At 1 January 2023 1,707
Amortisation for year 749
At 31 December 2023 2,456
NET BOOK VALUE
At 31 December 2023 5,030
At 31 December 2022 5,779

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
improvements machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 January 2023 390,154 748,492 1,146,439 51,617 2,336,702
Additions 7,265 - 4,044 1,062 12,371
At 31 December 2023 397,419 748,492 1,150,483 52,679 2,349,073
DEPRECIATION
At 1 January 2023 88,915 220,234 338,894 39,254 687,297
Charge for year 46,276 105,668 162,466 11,918 326,328
At 31 December 2023 135,191 325,902 501,360 51,172 1,013,625
NET BOOK VALUE
At 31 December 2023 262,228 422,590 649,123 1,507 1,335,448
At 31 December 2022 301,239 528,258 807,545 12,363 1,649,405

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 287 17,905
Other debtors 131,060 184,251
131,347 202,156

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Bank loans and overdrafts 60,517 -
Trade creditors 204,473 336,205
Taxation and social security 22,360 23,202
Other creditors 650,767 465,002
938,117 824,409

Maer Beach Limited (Registered number: 10841756)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£ £
Other creditors 700,000 700,000

9. POST BALANCE SHEET EVENTS

On the 21 October 2024 the company sold the lease and assets for £450,000.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Maer Beach Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maer Beach Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Maer Beach Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Maer Beach Limited. You consider that Maer Beach Limited 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 Maer Beach Limited. 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.






Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


27 March 2025