82 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 624,900 606,865 8,805 615,670 9,230 18,035 xbrli:pure xbrli:shares iso4217:GBP 06052898 2023-09-01 2024-08-31 06052898 2024-08-31 06052898 2023-08-31 06052898 2022-09-01 2023-08-31 06052898 2023-08-31 06052898 2022-08-31 06052898 core:NetGoodwill 2023-09-01 2024-08-31 06052898 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-08-31 06052898 core:PlantMachinery 2023-09-01 2024-08-31 06052898 bus:Director2 2023-09-01 2024-08-31 06052898 bus:Director3 2023-09-01 2024-08-31 06052898 core:WithinOneYear 2024-08-31 06052898 core:WithinOneYear 2023-08-31 06052898 core:NetGoodwill 2023-08-31 06052898 core:NetGoodwill 2024-08-31 06052898 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 06052898 core:PlantMachinery 2023-08-31 06052898 core:LandBuildings core:LongLeaseholdAssets 2024-08-31 06052898 core:PlantMachinery 2024-08-31 06052898 core:ShareCapital 2024-08-31 06052898 core:ShareCapital 2023-08-31 06052898 core:RetainedEarningsAccumulatedLosses 2024-08-31 06052898 core:RetainedEarningsAccumulatedLosses 2023-08-31 06052898 core:NetGoodwill 2023-08-31 06052898 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 06052898 core:PlantMachinery 2023-08-31 06052898 bus:SmallEntities 2023-09-01 2024-08-31 06052898 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 06052898 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 06052898 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06052898 bus:FullAccounts 2023-09-01 2024-08-31 06052898 bus:Director2 2024-08-31 06052898 bus:Director3 2024-08-31
COMPANY REGISTRATION NUMBER: 06052898
MAIQUEZ LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2024
MAIQUEZ LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Intangible assets
5
9,230
18,035
Tangible assets
6
341,165
442,393
-----------
-----------
350,395
460,428
CURRENT ASSETS
Stocks
38,776
38,231
Debtors
7
223,054
295,656
Cash at bank and in hand
157,628
246,222
-----------
-----------
419,458
580,109
CREDITORS: amounts falling due within one year
8
571,993
692,637
-----------
-----------
NET CURRENT LIABILITIES
152,535
112,528
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
197,860
347,900
PROVISIONS
Taxation including deferred tax
43,118
55,795
-----------
-----------
NET ASSETS
154,742
292,105
-----------
-----------
MAIQUEZ LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2024
2024
2023
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
154,642
292,005
-----------
-----------
SHAREHOLDERS FUNDS
154,742
292,105
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr S P Ledwick
Mr M J Ledwick
Director
Director
Company registration number: 06052898
MAIQUEZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is De Quincey House The Maltings, Shaddongate, Carlisle, Cumbria, CA2 5TU, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
5% straight line
Fixtures, fittings and equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 82 (2023: 83 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1st September 2023 and 31st August 2024
624,900
-----------
Amortisation
At 1st September 2023
606,865
Charge for the year
8,805
-----------
At 31st August 2024
615,670
-----------
Carrying amount
At 31st August 2024
9,230
-----------
At 31st August 2023
18,035
-----------
6. TANGIBLE ASSETS
Long leasehold property
Plant and machinery
Total
£
£
£
Cost
At 1st September 2023
401,767
1,026,471
1,428,238
Additions
27,784
27,784
Disposals
( 121,572)
( 121,572)
-----------
--------------
--------------
At 31st August 2024
401,767
932,683
1,334,450
-----------
--------------
--------------
Depreciation
At 1st September 2023
212,987
772,858
985,845
Charge for the year
20,088
79,384
99,472
Disposals
( 92,032)
( 92,032)
-----------
--------------
--------------
At 31st August 2024
233,075
760,210
993,285
-----------
--------------
--------------
Carrying amount
At 31st August 2024
168,692
172,473
341,165
-----------
--------------
--------------
At 31st August 2023
188,780
253,613
442,393
-----------
--------------
--------------
7. DEBTORS
2024
2023
£
£
Prepayments and accrued income
74,120
70,436
Directors loan account
36,153
42,853
Other debtors
112,781
182,367
-----------
-----------
223,054
295,656
-----------
-----------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
205,100
167,120
Amounts owed to group undertakings
143,936
316,887
Accruals and deferred income
88,915
99,078
Corporation tax
25,017
25,083
Social security and other taxes
105,828
83,262
Other creditors
3,197
1,207
-----------
-----------
571,993
692,637
-----------
-----------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within debtors (note 8) is an amount of £ 36,206 (2023 £42,853) which represents the balance owed to Maiquez Limited in respect of a loan to the director, Mr S P Ledwick . The maximum amount owing to the company during the year was £109,345 (2023 £42,853) and interest is being charged by the company to Mr S P Ledwick at an annual rate of 2.25%. Also included within debtors (note 8) is an amount owing to Mr M J Ledwick of £ 53 . The maximum anmount owing from Mr M J Ledwick to the company during the year was £15,949 and interest was charged at an annual rate of 2.25%.
10. CONTROLLING PARTY
The ultimate controlling party is SML Holdings Limted .