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REGISTERED NUMBER: 03969936 (England and Wales)















MAZING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






MAZING LIMITED (REGISTERED NUMBER: 03969936)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAZING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: I D Harrabin
B C Harrabin





SECRETARY: B A Harrabin





REGISTERED OFFICE: 121-124 Far Gosford Street
Coventry
West Midlands
CV1 5EA





REGISTERED NUMBER: 03969936 (England and Wales)





ACCOUNTANTS: Burrows Scarborough
Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET

MAZING LIMITED (REGISTERED NUMBER: 03969936)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 427,129 465,070

CURRENT ASSETS
Stocks 3,046,423 3,027,814
Debtors 5 204,014 200,866
Cash at bank and in hand 78,785 55,692
3,329,222 3,284,372
CREDITORS
Amounts falling due within one year 6 977,443 989,588
NET CURRENT ASSETS 2,351,779 2,294,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,778,908

2,759,854

CREDITORS
Amounts falling due after more than one
year

7

(1,630,000

)

(1,605,000

)

PROVISIONS FOR LIABILITIES (74,973 ) (80,885 )
NET ASSETS 1,073,935 1,073,969

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,073,835 1,073,869
SHAREHOLDERS' FUNDS 1,073,935 1,073,969

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

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

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





B C Harrabin - Director


MAZING LIMITED (REGISTERED NUMBER: 03969936)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Mazing 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £1.

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

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.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Improvements to property - 10% reducing balance
Fixtures and fittings - 15% reducing balance
Plant and equipment - 25% reducing balance

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Long term contracts
The attributable profit on long-term contracts is recognised once the outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.

Costs associated with long-term contracts are included in stock to the extent that they cannot be matched with contract work accounted for as turnover. Long-term contract balances included in stocks are stated at cost, after provision has been made for any foreseeable losses and the deduction of applicable payments on account.

Full provision is made for losses on all contracts in the year in which the loss is first foreseen.

MAZING LIMITED (REGISTERED NUMBER: 03969936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recongnised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivable, trade and other payables and loans. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets - classified as basic financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Financial liabilities - classified as basic financial instruments

Basic financial liabilities, including trade and other payables and loans from Key Management Personnel, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined benefit plan for the benefit of its employees. A liability for the company's obligations under the plan is recognised net of plan assets. The net change in the net defined benefit liability is recognised as the cost of the defined benefit plan during the period. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method

Stock and work in progress
Stock is stated at the lower of cost and net realisable value.

Work in progress includes Land held for development and costs attributable to development activities. Cost includes infrastructure, construction and other direct materials, labour and a proportion of attributable overheads.

The normal operating cycle for such property development activities take in to account current and short term market conditions and the cycle is therefore variable. The company may have substantially complete developments which it chooses not to complete/finish if it considers/determines that the market conditions are unfavourable and likely to improve in the short term.

Revenue recognition
Revenue is recognised for units sold when various conditions are satisfied, including;

- the transfer of the significant risks and rewards of ownership,
- changed management involvement and control,
- where revenue can be reliably measured and,
- it is probable that the economic benefits will flow to the company

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 21 ) .

MAZING LIMITED (REGISTERED NUMBER: 03969936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 756,346
Additions 11,667
At 30 September 2024 768,013
DEPRECIATION
At 1 October 2023 291,276
Charge for year 49,608
At 30 September 2024 340,884
NET BOOK VALUE
At 30 September 2024 427,129
At 30 September 2023 465,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 96,636 136,468
Other debtors 1,664 4,209
VAT 3,774 -
Prepayments and accrued income 101,940 60,189
204,014 200,866

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 60,000
Trade creditors 114,346 21,128
Loan from Harrabin
Construction Limited 244,086 244,086
Far Gosford Street Loan 400,000 400,000
Tax 10,557 2,760
Paye 2,021 1,346
Pension 583 380
VAT - 19,372
Other creditors 41,081 49,069
Directors' current accounts 112,569 112,569
Accruals and deferred income 52,200 78,878
977,443 989,588

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 1,630,000 1,605,000

MAZING LIMITED (REGISTERED NUMBER: 03969936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,630,000 1,665,000

The company's loan borrowings are secured by way of legal charge over the companys freehold and/or long leasehold interests at Far Gosford Street, Coventry, Victoria Works, Birmingham and Fargo Village Industrial Estate, Coventry.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

The Company has received loans from companies in which Key Management Personnel have a participating interest and the balance of £644,085 (2023-£644,085) and directors loans of £112,569 (2023-£112,569) are included in creditors.









11. ULTIMATE CONTROLLING PARTY

The controlling party is I D Harrabin.