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REGISTERED NUMBER: 03289067 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

MAIDEN MARINE LIMITED

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAIDEN MARINE LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2024







DIRECTORS: Mr J C Ettridge
Mr P J R Schwerdt
Mrs K J Schwerdt





SECRETARY: Mrs K J Schwerdt





REGISTERED OFFICE: Ferry Nab
Bowness On Windermere
Cumbria
LA23 3JH





REGISTERED NUMBER: 03289067 (England and Wales)





ACCOUNTANTS: MBE Accountancy Ltd
Chartered Certified Practice
10 High Street
Windermere
Cumbria
LA231AF

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

BALANCE SHEET
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 133,206 149,574
133,206 149,574

CURRENT ASSETS
Stocks 6 80,640 124,373
Debtors 7 106,704 181,823
Cash at bank and in hand 105,577 85,469
292,921 391,665
CREDITORS
Amounts falling due within one year 8 312,871 370,191
NET CURRENT (LIABILITIES)/ASSETS (19,950 ) 21,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,256

171,048

CREDITORS
Amounts falling due after more than one year 9 (24,179 ) (33,495 )

PROVISIONS FOR LIABILITIES (29,894 ) (28,824 )
NET ASSETS 59,183 108,729

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,083 108,629
SHAREHOLDERS' FUNDS 59,183 108,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

BALANCE SHEET - continued
30 November 2024


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 3 June 2025 and were signed on its behalf by:





Mrs K J Schwerdt - Director


MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Maiden Marine 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the lease
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 24,999
AMORTISATION
At 1 December 2023
and 30 November 2024 24,999
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2023 18,857 260,138 88,578 367,573
Additions - 2,351 18,500 20,851
Disposals - (203 ) (10,250 ) (10,453 )
At 30 November 2024 18,857 262,286 96,828 377,971
DEPRECIATION
At 1 December 2023 18,857 162,921 36,221 217,999
Charge for year - 18,025 15,401 33,426
Eliminated on disposal - (194 ) (6,466 ) (6,660 )
At 30 November 2024 18,857 180,752 45,156 244,765
NET BOOK VALUE
At 30 November 2024 - 81,534 51,672 133,206
At 30 November 2023 - 97,217 52,357 149,574

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023 75,178
Additions 18,500
At 30 November 2024 93,678
DEPRECIATION
At 1 December 2023 29,736
Charge for year 2,312
At 30 November 2024 32,048
NET BOOK VALUE
At 30 November 2024 61,630
At 30 November 2023 45,442

6. STOCKS
30.11.24 30.11.23
£    £   
Stocks 75,640 116,630
Work-in-progress 5,000 7,743
80,640 124,373

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 13,156 118,530
Other debtors 93,548 63,293
106,704 181,823

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 14,247 13,676
Trade creditors 66,101 198,478
Taxation and social security 61,751 50,802
Other creditors 170,772 107,235
312,871 370,191

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 12,880 14,380
Other creditors 11,299 19,115
24,179 33,495

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
Mr P J R Schwerdt
Balance outstanding at start of year (181 ) (262 )
Amounts advanced 39,681 39,440
Amounts repaid (39,850 ) (39,359 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (350 ) (181 )

Mrs K J Schwerdt
Balance outstanding at start of year (519 ) (109 )
Amounts advanced 45,958 43,949
Amounts repaid (46,100 ) (44,359 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (661 ) (519 )

MAIDEN MARINE LIMITED (REGISTERED NUMBER: 03289067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J C Ettridge
Balance outstanding at start of year (522 ) 9,907
Amounts advanced 42,836 37,930
Amounts repaid (42,600 ) (48,359 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (286 ) (522 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K J Schwerdt.