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REGISTERED NUMBER: SC320045 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAEFURST LTD.

MAEFURST LTD. (REGISTERED NUMBER: SC320045)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAEFURST LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: A Goff
Mrs J I S Goff
A G Mitchell





SECRETARY: Mrs J I S Goff





REGISTERED OFFICE: 64 Lochranza Crescent
Airdrie
ML6 9FD





REGISTERED NUMBER: SC320045 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

MAEFURST LTD. (REGISTERED NUMBER: SC320045)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 85,400 91,500
Tangible assets 5 29,677 34,334
115,077 125,834

CURRENT ASSETS
Stocks 9,041 8,785
Cash at bank and in hand 5,914 17,564
14,955 26,349
CREDITORS
Amounts falling due within one year 6 101,422 91,431
NET CURRENT LIABILITIES (86,467 ) (65,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,610

60,752

CREDITORS
Amounts falling due after more than one
year

7

(2,261

)

(16,190

)

PROVISIONS FOR LIABILITIES 8 (4,546 ) (5,276 )
NET ASSETS 21,803 39,286

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,703 39,186
SHAREHOLDERS' FUNDS 21,803 39,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

MAEFURST LTD. (REGISTERED NUMBER: SC320045)

BALANCE SHEET - continued
31 MARCH 2025


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 May 2025 and were signed on its behalf by:





A Goff - Director


MAEFURST LTD. (REGISTERED NUMBER: SC320045)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Maefurst Ltd. is a private company, limited by shares , registered in Scotland. 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 2014, is being amortised evenly over its estimated useful life of twenty 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.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost

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

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.

MAEFURST LTD. (REGISTERED NUMBER: SC320045)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

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 14 (2024 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 152,500
AMORTISATION
At 1 April 2024 61,000
Amortisation for year 6,100
At 31 March 2025 67,100
NET BOOK VALUE
At 31 March 2025 85,400
At 31 March 2024 91,500

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2024 9,281 76,616 15,678 101,575
Additions - 6,050 - 6,050
At 31 March 2025 9,281 82,666 15,678 107,625
DEPRECIATION
At 1 April 2024 9,204 53,334 4,703 67,241
Charge for year 61 7,510 3,136 10,707
At 31 March 2025 9,265 60,844 7,839 77,948
NET BOOK VALUE
At 31 March 2025 16 21,822 7,839 29,677
At 31 March 2024 77 23,282 10,975 34,334

MAEFURST LTD. (REGISTERED NUMBER: SC320045)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2024
and 31 March 2025 15,678
DEPRECIATION
At 1 April 2024 4,703
Charge for year 3,136
At 31 March 2025 7,839
NET BOOK VALUE
At 31 March 2025 7,839
At 31 March 2024 10,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 10,056 10,847
Hire purchase contracts 3,876 3,876
Trade creditors 18,085 24,870
Corporation tax 5,097 7,957
Payroll taxation 3,927 3,703
VAT 19,119 20,535
Other creditors 5,750 5,750
Directors' current accounts 25,873 4,457
Accrued charges 9,639 9,436
101,422 91,431

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans - 1-2 years - 10,053
Hire purchase contracts 2,261 6,137
2,261 16,190

8. PROVISIONS FOR LIABILITIES
31.3.25 31.3.24
£    £   
Deferred tax 4,546 5,276

Deferred
tax
£   
Balance at 1 April 2024 5,276
Provided during year (730 )
Balance at 31 March 2025 4,546

MAEFURST LTD. (REGISTERED NUMBER: SC320045)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Goff.