1 April 2022 false No description of principal activity Taxfiler 2023.9 04794160business:PrivateLimitedCompanyLtd2022-04-012023-03-31 047941602022-03-31 047941602022-04-012023-03-31 04794160business:AuditExempt-NoAccountantsReport2022-04-012023-03-31 04794160business:FilletedAccounts2022-04-012023-03-31 047941602023-03-31 04794160business:Director12022-04-012023-03-31 04794160business:Director22022-04-012023-03-31 04794160business:RegisteredOffice2022-04-012023-03-31 047941602022-03-31 04794160core:WithinOneYear2023-03-31 04794160core:WithinOneYear2022-03-31 04794160core:AfterOneYear2023-03-31 04794160core:AfterOneYear2022-03-31 04794160core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 04794160core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 04794160core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 04794160core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 04794160core:PreviouslyStatedAmount2023-03-31 04794160core:PreviouslyStatedAmount2022-03-31 04794160business:SmallEntities2022-04-012023-03-31 04794160countries:EnglandWales2022-04-012023-03-31 04794160core:MotorVehicles2022-04-012023-03-31 04794160core:MotorVehicles2022-03-31 04794160core:MotorVehicles2023-03-31 047941602021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. 04794160 (England and Wales)
Maxfields Ltd Unaudited accounts for the year ended 31 March 2023
Maxfields Ltd Unaudited accounts Contents
Page
- 2 -
Maxfields Ltd Company Information for the year ended 31 March 2023
Directors
R Maxfield M Maxfield
Company Number
04794160 (England and Wales)
Registered Office
Unit 5 The Sidings Business Park Skipton North Yorkshire BD23 1TB
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
- 3 -
Maxfields Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
633 
844 
Current assets
Inventories
5,100 
6,250 
Cash at bank and in hand
37,900 
39,196 
43,000 
45,446 
Creditors: amounts falling due within one year
(23,185)
(21,374)
Net current assets
19,815 
24,072 
Total assets less current liabilities
20,448 
24,916 
Creditors: amounts falling due after more than one year
(19,000)
(24,422)
Net assets
1,448 
494 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,348 
394 
Shareholders' funds
1,448 
494 
For the year ending 31 March 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 25 October 2023 and were signed on its behalf by
M Maxfield Director Company Registration No. 04794160
- 4 -
Maxfields Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Maxfields Ltd is a private company, limited by shares, registered in England and Wales, registration number 04794160. The registered office is Unit 5, The Sidings Business Park, Skipton, North Yorkshire, BD23 1TB.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Motor vehicles
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
- 5 -
Maxfields Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 April 2022
3,500 
At 31 March 2023
3,500 
Depreciation
At 1 April 2022
2,656 
Charge for the year
211 
At 31 March 2023
2,867 
Net book value
At 31 March 2023
633 
At 31 March 2022
844 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
3,652 
1,781 
Loans from directors
17,903 
18,778 
Accruals
1,630 
815 
23,185 
21,374 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,000 
24,422 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 6 -