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

REGISTERED NUMBER: SC197134 (Scotland)

Unaudited Financial Statements

for the Period 1 July 2020 to 31 December 2021

for

Maestroclear Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTOR:

M D Thomson

SECRETARY:

Mrs R Thomson

REGISTERED OFFICE:

Unit F

Bankhead Farm

Kinglassie

Fife

KY5 0UH

REGISTERED NUMBER:

SC197134 (Scotland)

ACCOUNTANTS:

Wallace White Accountants

Suite 401-404

Baltic Chambers

50 Wellington Street

Glasgow

G2 6HJ

FIXED ASSETS

Tangible assets

4

309,043

224,269

CURRENT ASSETS

Stocks

6,500

6,500

Debtors

5

451,566

303,855

Cash at bank and in hand

66,153

786,021

524,219

1,096,376

CREDITORS

Amounts falling due within one year

6

491,670

403,841

NET CURRENT ASSETS

32,549

692,535

TOTAL ASSETS LESS CURRENT LIABILITIES

341,592

916,804

PROVISIONS FOR LIABILITIES

37,351

37,351

NET ASSETS

304,241

879,453

CAPITAL AND RESERVES

Called up share capital

1

3

Retained earnings

304,240

879,450

SHAREHOLDERS' FUNDS

304,241

879,453

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2022 and were signed by:

M D Thomson - Director

1.	STATUTORY INFORMATION

Maestroclear Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 59 (2020 - 67 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

512,080

Additions

186,060

At 31 December 2021

698,140

DEPRECIATION

At 1 July 2020

287,811

Charge for period

101,286

At 31 December 2021

389,097

NET BOOK VALUE

At 31 December 2021

309,043

At 30 June 2020

224,269

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.6.20

£

£

Trade debtors

174,920

226,827

Other debtors

276,646

77,028

451,566

303,855

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.6.20

£

£

Bank loans and overdrafts

1,440

-

Hire purchase contracts

59,867

1,539

Trade creditors

122,662

85,736

Taxation and social security

194,831

253,493

Other creditors

112,870

63,073

491,670

403,841

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 December 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wallace White Accountants

Suite 401-404

Baltic Chambers

50 Wellington Street

Glasgow

G2 6HJ

30 January 2022