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REGISTERED NUMBER: 07417923 (England and Wales)













M MAHESON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






M MAHESON LTD (REGISTERED NUMBER: 07417923)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M MAHESON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr M V S Maheson
Ms G L Maheson





REGISTERED OFFICE: 1st Floor Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ





REGISTERED NUMBER: 07417923 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

M MAHESON LTD (REGISTERED NUMBER: 07417923)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 53,999 42,437
53,999 42,437

CURRENT ASSETS
Debtors 6 225,895 287,033
Cash at bank 18,268 43,148
244,163 330,181
CREDITORS
Amounts falling due within one year 7 23,355 27,122
NET CURRENT ASSETS 220,808 303,059
TOTAL ASSETS LESS CURRENT LIABILITIES 274,807 345,496

CREDITORS
Amounts falling due after more than one year 8 45,868 28,107
NET ASSETS 228,939 317,389

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,839 317,289
SHAREHOLDERS' FUNDS 228,939 317,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

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

M MAHESON LTD (REGISTERED NUMBER: 07417923)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2025 and were signed on its behalf by:





Mr M V S Maheson - Director


M MAHESON LTD (REGISTERED NUMBER: 07417923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

M Maheson Ltd 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
Purchased goodwill has been fully amortised.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% straight line on cost
Motor vehicles - 33.33% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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 3 (2023 - 3 ) .

M MAHESON LTD (REGISTERED NUMBER: 07417923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 November 2023
and 31 October 2024 93,300
AMORTISATION
At 1 November 2023
and 31 October 2024 93,300
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 November 2023 35,865 77,417 113,282
Additions 1,179 64,690 65,869
Disposals - (65,590 ) (65,590 )
At 31 October 2024 37,044 76,517 113,561
DEPRECIATION
At 1 November 2023 34,495 36,350 70,845
Charge for year 1,380 24,122 25,502
Eliminated on disposal - (36,785 ) (36,785 )
At 31 October 2024 35,875 23,687 59,562
NET BOOK VALUE
At 31 October 2024 1,169 52,830 53,999
At 31 October 2023 1,370 41,067 42,437

M MAHESON LTD (REGISTERED NUMBER: 07417923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


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 November 2023 65,590
Additions 64,690
Disposals (65,590 )
At 31 October 2024 64,690
DEPRECIATION
At 1 November 2023 24,523
Charge for year 24,122
Eliminated on disposal (36,785 )
At 31 October 2024 11,860
NET BOOK VALUE
At 31 October 2024 52,830
At 31 October 2023 41,067

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£ £
Trade debtors 42,479 65,561
Other debtors 183,416 221,472
225,895 287,033

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£ £
Bank loans and overdrafts 1 -
Hire purchase contracts 9,576 11,017
Taxation and social security 13,628 14,528
Other creditors 150 1,577
23,355 27,122

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£ £
Hire purchase contracts 45,868 28,107

M MAHESON LTD (REGISTERED NUMBER: 07417923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£ £
Hire purchase contracts 55,444 39,124

Hire Purchase finance is secured on the asset to which the finance relates.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
as restated
£ £
Mr M V S Maheson
Balance outstanding at start of year 64,006 85,809
Amounts advanced 51,553 36,145
Amounts repaid (49,911 ) (57,948 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,648 64,006

Ms G L Maheson
Balance outstanding at start of year 61,496 82,242
Amounts advanced 49,531 34,929
Amounts repaid (47,954 ) (55,675 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,073 61,496

As at the year end the company directors owed the company £128,721 (2023 - £125,501).

The loan is repayable on demand and interest (at 2.25% p.a.) of £2,517 was charged by the company during the year.