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Registration number: NI696022

Maine Bakery Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Maine Bakery Holdings Ltd

(Registration number: NI696022)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,000

1,000

Current assets

 

Debtors

5

171,940

171,940

Net assets

 

172,940

172,940

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

171,940

171,940

Shareholders' funds

 

172,940

172,940

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.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

.........................................
Ms Margaret Joy Smyth
Director

.........................................
Ms Lois Forsythe
Director

 

Maine Bakery Holdings Ltd

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: 75-77 Main Street, Cullybackey, Ballymena, Antrim, BT42 1BW.

These financial statements were authorised for issue by the Board on 9 April 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.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group..

Going concern

The financial statements have been prepared on a going concern basis.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Maine Bakery Holdings Ltd

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

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 income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 2 (2023 - 2).

 

Maine Bakery Holdings Ltd

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

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 January 2024

1,000

Carrying amount

At 31 December 2024

1,000

At 31 December 2023

1,000

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

171,940

171,940

   

171,940

171,940


Amounts owed by related parties consists of balance due from parent company, Panem Holdings Ltd.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000