Mayne Communications Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI071652

Mayne Communications Limited

Filleted Unaudited Management Accounts

28 February 2025

Mayne Communications Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	7		47,351	55,655

Current assets

Debtors	8	286,631	187,128
Cash at bank and in hand		229,546	326,451
		---------	---------
		516,177	513,579

Creditors: amounts falling due within one year	9	217,671		237,280
		---------		---------
Net current assets			298,506	276,299
			---------	---------
Total assets less current liabilities			345,857	331,954

Creditors: amounts falling due after more than one year	10		–	10,107

Provisions

Taxation including deferred tax	11	11,838	13,914
		---------	---------
Net assets		334,019	307,933
		---------	---------

Capital and reserves

Called up share capital	13	1	1
Profit and loss account		334,018	307,932
		---------	---------
Shareholders funds		334,019	307,933
		---------	---------

These Management Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its Management Accounts for the year in question in accordance with section 476 ;

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

Mayne Communications Limited

Statement of Financial Position (continued)

28 February 2025

These Management Accounts were approved by the board of directors and authorised for issue on 27 October 2025 , and are signed on behalf of the board by:

Mr S Mayne
Director

Company registration number: NI071652

Mayne Communications Limited

Notes to the Management Accounts

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 23 Windmill Business Park, Windmill Road, Saintfield, BT24 7DX.

2. Statement of compliance

These Management Accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The Management Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The Management Accounts are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures, fittings & equipment	-	15% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 5 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	18,872	30,716
Adjustments in respect of prior periods	–	55
	--------	--------
Total current tax	18,872	30,771
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 2,076)	701
	--------	--------
Tax on profit	16,796	31,472
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 24.50 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	72,882	111,682
	--------	---------
Profit on ordinary activities by rate of tax	18,221	27,362
Adjustment to tax charge in respect of prior periods	–	55
Effect of expenses not deductible for tax purposes	–	( 1,957)
Effect of capital allowances and depreciation	1,714	3,283
Effect of revenue exempt from tax	–	2,038
Effect of different UK tax rates on some earnings	(701)	(10)
Utilisation of tax losses	( 362)	–
Movement in deferred tax	(2,076)	701
	--------	---------
Tax on profit	16,796	31,472
	--------	---------

6. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	30,000	40,000
	--------	--------

7. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 March 2024	57,686	53,158	110,844
Additions	8,647	–	8,647
	--------	--------	---------
At 28 February 2025	66,333	53,158	119,491
	--------	--------	---------
Depreciation
At 1 March 2024	33,741	21,448	55,189
Charge for the year	9,023	7,928	16,951
	--------	--------	---------
At 28 February 2025	42,764	29,376	72,140
	--------	--------	---------
Carrying amount
At 28 February 2025	23,569	23,782	47,351
	--------	--------	---------
At 29 February 2024	23,945	31,710	55,655
	--------	--------	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	269,791	170,288
Other debtors	16,840	16,840
	---------	---------
	286,631	187,128
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,232	8,476
Trade creditors	151,794	112,946
Corporation tax	18,872	30,716
Social security and other taxes	28,253	62,167
Credit Card	2,317	2,072
Other creditors	6,203	20,903
	---------	---------
	217,671	237,280
	---------	---------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	10,107
	----	--------

11. Provisions

	Deferred tax (note 12)
	£
At 1 March 2024	13,914
Charge against provision	( 2,076)
	--------
At 28 February 2025	11,838
	--------

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 11)	11,838	13,914
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	11,838	13,914
	--------	--------

13. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

14. Related party transactions

There were no transactions with related parties within the year.

15. Controlling party

The company is a private company, limited by shares. It is registered in Northern Ireland ( NI071652 ) with its registered office at 23 Windmill Business Park, Windmill Road, Saintfield, BT24 7DX.