Majestic Engineering Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Majestic Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01797996 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements 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 financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

2.3. Tangible Fixed Assets and Depreciation

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.

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

Plant and machinery	25% reducing balance
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.

2.4. Leasing and Hire Purchase Contracts

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

2.5. Stocks and Work in Progress

Stocks are measured at the lower of cost and estimated selling price less costs tocomplete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

2.6. Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Majestic Engineering Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2024 to 31 January 2026

2.8. Taxation

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.

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.

2.9. Pensions

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.

2.10. 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.

2.11. Statement of compliance

These financial statements 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. Average Number of Employees

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

4. Tangible Assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
As at 1 August 2024	86,633	13,795	100,428
Additions	727	-	727
Disposals	(83,061 )	-	(83,061 )

As at 31 January 2026	4,299	13,795	18,094

Depreciation
As at 1 August 2024	86,479	8,350	94,829
Provided during the period	317	1,361	1,678
Disposals	(83,026 )	-	(83,026 )

As at 31 January 2026	3,770	9,711	13,481

Net Book Value
As at 31 January 2026	529	4,084	4,613

As at 1 August 2024	154	5,445	5,599

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

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Majestic Engineering Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2024 to 31 January 2026

5. Stocks

	31 January 2026	31 July 2024
	£	£
Stock	-	4,500

6. Debtors

	31 January 2026	31 July 2024
	£	£
Due within one year
Trade debtors	935	79,706
Other debtors	3,813	25,757

	4,748	105,463

7. Creditors: Amounts Falling Due Within One Year

	31 January 2026	31 July 2024
	£	£
Trade creditors	599	86,781
Bank loans and overdrafts	2,814	8,000
Other creditors	2,188	4,031
Taxation and social security	(3,753 )	19,677

	1,848	118,489

The debenture is secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures and plant and machinery.

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

	31 January 2026	31 July 2024
	£	£
Bank loans	-	7,206

9. Share Capital

	31 January 2026	31 July 2024
	£	£
Allotted, Called up and fully paid	100	100

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Majestic Engineering Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2024 to 31 January 2026

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 January 2026	31 July 2024
	£	£
Not later than one year	-	15,000

	-	15,000

11. Directors Advances, Credits and Guarantees

A director had brought forward interest free advances as follows:

	As at 1 August 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 January 2026
	£	£	£	£	£
Mr Kenneth Ballinger	23,362	37,350	61,400	-	688

The director's loan account is interest free and repayable on demand.

12. Related Party Transactions

The following related party transactions were undertaken during the year:

A director and shareholder, withdrew amounts totalling £37,350 and introduced amounts totalling £61,400 (2024: withdrew amounts totalling £23,810 and introduced amounts totalling £21,000). At the year end the balance payable to the director was £688 (2024: £23,362 payable to the company).

Dividends were paid to the directors in respect of their shareholdings totalling £20,000 (2024: £21,000).

No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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		31 January 2026		31 July 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,613		5,599

			4,613		5,599
CURRENT ASSETS
Stocks	5	-		4,500
Debtors	6	4,748		105,463
Cash at bank and in hand		11,946		28,366

		16,694		138,329
Creditors: Amounts Falling Due Within One Year	7	(1,848 )		(118,489 )

NET CURRENT ASSETS (LIABILITIES)			14,846		19,840

TOTAL ASSETS LESS CURRENT LIABILITIES			19,459		25,439

Creditors: Amounts Falling Due After More Than One Year	8		-		(7,206 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,153 )		(1,400 )

NET ASSETS			18,306		16,833

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			18,206		16,733

SHAREHOLDERS' FUNDS			18,306		16,833