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MAXWELL ASSOCIATES LIMITED

Registered Number
SC379036
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2023

MAXWELL ASSOCIATES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

MAXWELL, Susan Phyllis

Registered Address

36 Fonthill Road
Aberdeen
AB11 6UJ

Registered Number

SC379036 (Scotland)
MAXWELL ASSOCIATES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,539,9001,518,000
Investments611
1,539,9011,518,001
Current assets
Debtors683,137615,768
Cash at bank and on hand11,64418,360
694,781634,128
Creditors amounts falling due within one year7(1,314,886)(1,268,302)
Net current assets (liabilities)(620,105)(634,174)
Total assets less current liabilities919,796883,827
Creditors amounts falling due after one year8(366,320)(423,402)
Net assets553,476460,425
Capital and reserves
Called up share capital11
Profit and loss account553,475460,424
Shareholders' funds553,476460,425
The financial statements were approved and authorised for issue by the Director on 14 July 2023, and are signed on its behalf by:
MAXWELL, Susan Phyllis
Director
Registered Company No. SC379036
MAXWELL ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Land & buildings

Total

££
Cost or valuation
At 01 April 221,518,0001,518,000
Additions21,90021,900
At 31 March 231,539,9001,539,900
Net book value
At 31 March 231,539,9001,539,900
At 31 March 221,518,0001,518,000
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 2211
At 31 March 2311
Net book value
At 31 March 2311
At 31 March 2211

Notes

1Investments in group undertakings and participating interests
7.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts59,86859,868
Taxation and social security23,00015,932
Other creditors1,230,1521,191,329
Accrued liabilities and deferred income1,8661,173
Total1,314,8861,268,302
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts366,320423,402
Total366,320423,402