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Registration number: NI624652

Maploc8 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Maploc8 Limited

(Registration number: NI624652)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,286

6,583

Current assets

 

Stocks

5

15,100

16,964

Debtors

6

16,724

15,377

Cash at bank and in hand

 

49,237

48,069

 

81,061

80,410

Creditors: due within one year

7

(19,991)

(19,378)

Net current assets

 

61,070

61,032

Total assets less current liabilities

 

81,356

67,615

Provisions for liabilities

(3,854)

(1,251)

Net assets

 

77,502

66,364

Capital and reserves

 

Called up share capital

8

300

300

Retained earnings

77,202

66,064

Shareholders' funds

 

77,502

66,364

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Maploc8 Limited

(Registration number: NI624652)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr John Alastair Whann
Director

.........................................
Mr Warren Griffin Francis Speirs
Director

 
     
 

Maploc8 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 112 Whitesides Road, Randalstown, Antrim, Co Antrim, BT41 3DY.

These financial statements were authorised for issue by the Board on 6 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised at the point of supply of the goods or provision of the service at which point the Company has generated a right to consideration.

Government grants

Revenue grants are accounted for under the performance model. Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Maploc8 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

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 Profit and Loss Account under operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Maploc8 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

15,100

4,799

19,899

Additions

24,383

-

24,383

Disposals

(15,100)

-

(15,100)

At 31 December 2024

24,383

4,799

29,182

Depreciation

At 1 January 2024

10,067

3,249

13,316

Charge for the year

4,877

770

5,647

Eliminated on disposal

(10,067)

-

(10,067)

At 31 December 2024

4,877

4,019

8,896

Carrying amount

At 31 December 2024

19,506

780

20,286

At 31 December 2023

5,033

1,550

6,583

5

Stocks

2024
£

2023
£

Stocks

15,100

16,964

6

Debtors

2024
£

2023
£

Trade debtors

15,175

13,930

Prepayments

1,549

1,447

 

16,724

15,377

 

Maploc8 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors: due within one year

2024
£

2023
£

Trade creditors

6,240

6,139

Taxation and social security

11,751

11,239

Accruals and deferred income

2,000

2,000

19,991

19,378

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300