2022-02-012023-01-312023-01-31false06455592Maximus Strategic Bromsgrove 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Maximus Strategic Bromsgrove Limited

Registered Number
06455592
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

Maximus Strategic Bromsgrove Limited
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

Jonathan Hickton

Registered Address

The Estate Office Thorngrove
Sinton Green
Worcester
WR2 6NP

Registered Number

06455592 (England and Wales)
Maximus Strategic Bromsgrove Limited
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks880,06875,498
Debtors678316
Cash at bank and on hand98499
80,84476,313
Creditors amounts falling due within one year9(84,911)(79,592)
Net current assets (liabilities)(4,067)(3,279)
Total assets less current liabilities(4,067)(3,279)
Net assets(4,067)(3,279)
Capital and reserves
Called up share capital22
Profit and loss account(4,069)(3,281)
Shareholders' funds(4,067)(3,279)
The financial statements were approved and authorised for issue by the Director on 25 October 2023, and are signed on its behalf by:
Jonathan Hickton
Director
Registered Company No. 06455592
Maximus Strategic Bromsgrove Limited
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. 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.Principal activities
The principal activity of the Company is property development.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Stocks policy
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Going concern
The accounts have been prepared on a going concern basis as the Parent Company and the Director have committed to financially support the Company for the foreseeable future.
6.Employee information

20232022
Average number of employees during the year00
7.Description of nature of transactions and balances with related parties
Loans from the Parent Company of £78,950 (2022: £76,624) have been advanced on an unsecured, interest free basis and are repayable upon demand.
8.Stocks

2023

2022

££
Work in progress80,06875,498
Total80,06875,498
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,4612,268
Amounts owed to related parties78,95076,624
Accrued liabilities and deferred income500700
Total84,91179,592
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.