Maine Engineering Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06503737

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		30,053		5,284

			30,053		5,284
CURRENT ASSETS
Stocks	5	100,000		50,000
Debtors	6	192,580		77,520
Cash at bank and in hand		1,997		47

		294,577		127,567
Creditors: Amounts Falling Due Within One Year	7	(360,853 )		(203,934 )

NET CURRENT ASSETS (LIABILITIES)			(66,276 )		(76,367 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(36,223 )		(71,083 )

Creditors: Amounts Falling Due After More Than One Year	8		(32,875 )		(19,976 )

NET LIABILITIES			(69,098 )		(91,059 )

CAPITAL AND RESERVES
Called up share capital	10		250		250
Profit and Loss Account			(69,348 )		(91,309 )

SHAREHOLDERS' FUNDS			(69,098)		(91,059)

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Maine Engineering Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Bowman

Director

20/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Maine Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06503737 . The registered office is Unit 1 West Line Industrial Estate, Birtley, Chester Le Street, County Durham, DH2 1AU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance
Fixtures & Fittings	20% straight line
Computer Equipment	33% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Maine Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 4)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 March 2024	57,988	2,000	877	4,727	65,592
Additions	21,060	14,498	1,193	869	37,620

As at 28 February 2025	79,048	16,498	2,070	5,596	103,212

Depreciation
As at 1 March 2024	54,704	-	877	4,727	60,308
Provided during the period	7,496	4,900	238	217	12,851

As at 28 February 2025	62,200	4,900	1,115	4,944	73,159

Net Book Value
As at 28 February 2025	16,848	11,598	955	652	30,053

As at 1 March 2024	3,284	2,000	-	-	5,284

5. Stocks

	2025	2024
	£	£
Materials	100,000	50,000

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	175,429	66,885
Prepayments and accrued income	7,500	7,500
VAT	9,651	3,135

	192,580	77,520

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Maine Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	10,380	-
Trade creditors	96,565	7,644
Bank loans and overdrafts	4,056	19,917
Other taxes and social security	30,182	9,261
Factor account	77,599	23,469
Credit card	4,835	1,145
Other creditors (2)	111,300	111,300
Accruals and deferred income	3,002	3,002
Director's loan account	22,934	28,196

	360,853	203,934

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	23,350	-
Bank loans	9,525	19,976

	32,875	19,976

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	11,383	-
Later than one year and not later than five years	26,948	-

	38,331	-
Less: Finance charges allocated to future periods	4,601	-

	33,730	-

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	250	250

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