Company Registration No. 10597771 (England and Wales)
Maximise Property Investments Limited
Unaudited accounts
for the year ended 28 February 2023
Maximise Property Investments Limited
Unaudited accounts
Contents
Maximise Property Investments Limited
Company Information
for the year ended 28 February 2023
Directors
Matthew Roe
Elizabeth Robinson
Company Number
10597771 (England and Wales)
Registered Office
1 St. Michaels Avenue
Hemel Hempstead
Hertfordshire
HP3 8HF
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Maximise Property Investments Limited
Accountants' report
Accountants' report to the board of directors of Maximise Property Investments Limited on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Maximise Property Investments Limited for the year ended
28 February 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Maximise Property Investments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Maximise Property Investments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maximise Property Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Maximise Property Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Maximise Property Investments Limited. You consider that Maximise Property Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Maximise Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
20 September 2023
Maximise Property Investments Limited
Statement of financial position
as at 28 February 2023
Investment property
675,000
570,000
Cash at bank and in hand
126,262
11,788
Creditors: amounts falling due within one year
(103,563)
(84,654)
Net current assets/(liabilities)
22,930
(72,700)
Total assets less current liabilities
697,929
497,299
Creditors: amounts falling due after more than one year
(550,800)
(412,500)
Called up share capital
1
1
Profit and loss account
147,128
84,798
Shareholders' funds
147,129
84,799
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by
Matthew Roe
Director
Company Registration No. 10597771
Maximise Property Investments Limited
Notes to the Accounts
for the year ended 28 February 2023
Maximise Property Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10597771. The registered office is 1 St. Michaels Avenue, Hemel Hempstead, Hertfordshire, HP3 8HF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Intangible fixed assets (including capitalised financing costs on remortgaging) are included at cost less accumulated amortisation. Amortisation has been provided at 20% on cost p.a., the term of the borrowing.
4
Intangible fixed assets
Other
Maximise Property Investments Limited
Notes to the Accounts
for the year ended 28 February 2023
5
Tangible fixed assets
Fixtures & fittings
Fair value at 1 March 2022
570,000
Net gain from fair value adjustments
105,000
At 28 February 2023
675,000
Amounts falling due within one year
Accrued income and prepayments
231
166
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,278
2,241
Loans from directors
98,651
80,979
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
550,800
412,500
Aggregate of amounts that fall due for payment after five years
550,800
412,500
10
Transactions with related parties
At the balance sheet date, the company owed the Directors £98,652 (2022 - £80,979). Interest of £1,904 (2022 - £1,904) for the year has been charged.
Maximise Property Investments Limited
Notes to the Accounts
for the year ended 28 February 2023
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).