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REGISTERED NUMBER: SC268416 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MAX TRACTOR LIMITED

MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MAX TRACTOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: L Beck
Mrs V C Beck





SECRETARY: L Beck





REGISTERED OFFICE: 68 Hillpark Avenue
Edinburgh
EH4 7AL





REGISTERED NUMBER: SC268416 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Stocks 22,843 20,525
Debtors 6 12,284 19,279
Cash at bank and in hand 12,111 17,005
47,238 56,809
CREDITORS
Amounts falling due within one year 7 25,562 22,379
NET CURRENT ASSETS 21,676 34,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,676

34,430

CREDITORS
Amounts falling due after more than one year 8 17,439 24,364
NET ASSETS 4,237 10,066

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,235 10,064
SHAREHOLDERS' FUNDS 4,237 10,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:



Mrs V C Beck - Director


MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Max Tractor 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue comprises the fair value of the sale of goods and services net of value added tax, rebates and discounts.

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly assured.

Service revenues are recognised as those services are provided to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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

MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs.

Taxation
Taxation for the year 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 65,000
AMORTISATION
At 1 January 2022
and 31 December 2022 65,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2022
and 31 December 2022 3,650 100 31,490 35,240
DEPRECIATION
At 1 January 2022
and 31 December 2022 3,650 100 31,490 35,240
NET BOOK VALUE
At 31 December 2022 - - - -
At 31 December 2021 - - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 11,541 13,646
Other debtors 743 5,633
12,284 19,279

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 6,923 6,750
Trade creditors 12,824 10,217
Taxation and social security 4,161 3,505
Other creditors 1,654 1,907
25,562 22,379

MAX TRACTOR LIMITED (REGISTERED NUMBER: SC268416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 17,439 24,364

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
L Beck
Balance outstanding at start of year 5,633 -
Amounts advanced - 5,633
Amounts repaid (5,633 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,633