Maintek Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04921921 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

MAINTEK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D J Main

SECRETARY:

Mrs C L Main

REGISTERED OFFICE:

52 Cranbourne Chase

Burghley Park

Purton Road

Swindon

Wiltshire

SN25 1FH

REGISTERED NUMBER:

04921921 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,530

18,479

15,530

18,479

CURRENT ASSETS

Stocks

1,058

798

Debtors

6

1,869

2,901

Cash at bank

167,727

138,887

170,654

142,586

CREDITORS

Amounts falling due within one year

7

114,322

77,991

NET CURRENT ASSETS

56,332

64,595

TOTAL ASSETS LESS CURRENT LIABILITIES

71,862

83,074

CREDITORS

Amounts falling due after more than one year

8

(26,090

)

(32,667

)

PROVISIONS FOR LIABILITIES

(2,951

)

(3,512

)

NET ASSETS

42,821

46,895

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

42,721

46,795

42,821

46,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 28 July 2022 and were signed by:

Mr D J Main - Director

1.	STATUTORY INFORMATION

Maintek Limited 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 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks & work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs include all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. An element of profit is included where the outcome of the project may reasonably be determined.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2020

and 31 October 2021

225,000

AMORTISATION

At 1 November 2020

and 31 October 2021

225,000

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2020

769

19,096

4,594

24,459

Additions

650

-

1,437

2,087

Disposals

(769

)

-

(2,084

)

(2,853

)

At 31 October 2021

650

19,096

3,947

23,693

DEPRECIATION

At 1 November 2020

715

1,591

3,674

5,980

Charge for year

18

4,376

589

4,983

Eliminated on disposal

(716

)

-

(2,084

)

(2,800

)

At 31 October 2021

17

5,967

2,179

8,163

NET BOOK VALUE

At 31 October 2021

633

13,129

1,768

15,530

At 31 October 2020

54

17,505

920

18,479

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/21

31/10/20

£

£

Trade debtors

481

1,585

Other debtors

1,388

1,316

1,869

2,901

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/21

31/10/20

£

£

Bank loans and overdrafts

6,710

2,333

Trade creditors

15,295

11,026

Taxation and social security

25,089

14,855

Other creditors

67,228

49,777

114,322

77,991

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/21

31/10/20

£

£

Bank loans

26,090

32,667