Registered number
07202728
Maynard Engines Limited
Filleted Accounts
30 September 2024
Maynard Engines Limited
Company Information
Director
A M Clark
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Unit 10 Merretts Mill
Woodchester
Stroud
Glos
Registered number
07202728
Maynard Engines Limited
Registered number: 07202728
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 20,000 20,000
Tangible assets 4 4,365 6,226
24,365 26,226
Current assets
Stocks - 30
Debtors 5 38,270 -
Cash at bank and in hand 6,738 500
45,008 530
Creditors: amounts falling due within one year 6 (154,829) (39,774)
Net current liabilities (109,821) (39,244)
Total assets less current liabilities (85,456) (13,018)
Creditors: amounts falling due after more than one year 7 (41,627) (67,109)
Net liabilities (127,083) (80,127)
Capital and reserves
Called up share capital 1 1
Profit and loss account (127,084) (80,128)
Shareholder's funds (127,083) (80,127)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A M Clark
Director
Approved by the board on 31 May 2025
Maynard Engines Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 20,000
At 30 September 2024 20,000
Amortisation
At 30 September 2024 -
Net book value
At 30 September 2024 20,000
At 30 September 2023 20,000
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 October 2023 11,550
Additions 334
At 30 September 2024 11,884
Depreciation
At 1 October 2023 5,324
Charge for the year 2,195
At 30 September 2024 7,519
Net book value
At 30 September 2024 4,365
At 30 September 2023 6,226
5 Debtors 2024 2023
£ £
Trade debtors 38,270 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 27,828
Trade creditors 36,993 10,073
Taxation and social security costs 116,841 1,873
Other creditors 995 -
154,829 39,774
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,000 25,297
Directors loan 27,627 41,812
41,627 67,109
8 Contingent liabilities
The accounts have been prepared on the going concern basis which is dependent on the continuing financial support of the directors.
9 Controlling party
The company is controlled by the director.
10 Other information
Maynard Engines Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Merretts Mill
Woodchester
Stroud
Glos
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