1 July 2022 false No description of principal activity Taxfiler 2023.10 09084664business:PrivateLimitedCompanyLtd2022-07-012023-06-30 090846642022-06-30 090846642022-07-012023-06-30 09084664business:AuditExemptWithAccountantsReport2022-07-012023-06-30 09084664business:FilletedAccounts2022-07-012023-06-30 090846642023-06-30 09084664business:Director12022-07-012023-06-30 09084664business:RegisteredOffice2022-07-012023-06-30 090846642022-06-30 09084664core:WithinOneYear2023-06-30 09084664core:WithinOneYear2022-06-30 09084664core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 09084664core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 09084664core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 09084664core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 09084664core:PreviouslyStatedAmount2023-06-30 09084664core:PreviouslyStatedAmount2022-06-30 09084664business:SmallEntities2022-07-012023-06-30 09084664countries:EnglandWales2022-07-012023-06-30 09084664core:LandBuildings2022-07-012023-06-30 09084664core:MotorVehicles2022-07-012023-06-30 09084664core:ComputerEquipment2022-07-012023-06-30 09084664core:LandBuildings2022-06-30 09084664core:MotorVehicles2022-06-30 09084664core:FurnitureFittings2022-06-30 09084664core:FurnitureFittings2022-07-012023-06-30 09084664core:LandBuildings2023-06-30 09084664core:MotorVehicles2023-06-30 09084664core:FurnitureFittings2023-06-30 09084664core:AcceleratedTaxDepreciationDeferredTax2023-06-30 09084664core:AcceleratedTaxDepreciationDeferredTax2022-06-30 090846642021-06-30 090846642021-07-012022-06-30 09084664business:OrdinaryShareClass12022-07-012023-06-30 09084664business:OrdinaryShareClass12021-07-012022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09084664 (England and Wales)
Maxton Design Ltd Unaudited accounts for the year ended 30 June 2023
Maxton Design Ltd Unaudited accounts Contents
Page
- 2 -
Maxton Design Ltd Company Information for the year ended 30 June 2023
Director
Dariusz Ratusznik
Company Number
09084664 (England and Wales)
Registered Office
Maxton Design Ltd 7 Gilhusum Road Gildersome Leeds LS27 7FN
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
- 3 -
Maxton Design Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
983,459 
827,667 
Current assets
Inventories
482,142 
458,161 
Debtors
282,600 
132,519 
Cash at bank and in hand
5,099,960 
3,546,495 
5,864,702 
4,137,175 
Creditors: amounts falling due within one year
(2,421,646)
(915,403)
Net current assets
3,443,056 
3,221,772 
Total assets less current liabilities
4,426,515 
4,049,439 
Provisions for liabilities
Deferred tax
(21,766)
(24,956)
Net assets
4,404,749 
4,024,483 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
4,404,748 
4,024,482 
Shareholders' funds
4,404,749 
4,024,483 
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 1 November 2023 and were signed on its behalf by
Dariusz Ratusznik Director Company Registration No. 09084664
- 4 -
Maxton Design Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Maxton Design Ltd is a private company, limited by shares, registered in England and Wales, registration number 09084664. The registered office is Maxton Design Ltd, 7 Gilhusum Road, Gildersome, Leeds, LS27 7FN.
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.
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:
Land & buildings
15% straight line
Motor vehicles
25% straight line
Computer equipment
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
- 5 -
Maxton Design Ltd Notes to the Accounts for the year ended 30 June 2023
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.
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2022
696,318 
111,332 
173,024 
980,674 
Additions
- 
191,812 
38,149 
229,961 
Disposals
- 
(42,338)
- 
(42,338)
At 30 June 2023
696,318 
260,806 
211,173 
1,168,297 
Depreciation
At 1 July 2022
- 
60,952 
92,055 
153,007 
Charge for the year
- 
35,000 
33,502 
68,502 
On disposals
- 
(36,671)
- 
(36,671)
At 30 June 2023
- 
59,281 
125,557 
184,838 
Net book value
At 30 June 2023
696,318 
201,525 
85,616 
983,459 
At 30 June 2022
696,318 
50,380 
80,969 
827,667 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
92,566 
567 
Accrued income and prepayments
43,237 
27,611 
Other debtors
146,797 
104,341 
282,600 
132,519 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
438,297 
312,235 
Trade creditors
220,347 
139,668 
Amounts owed to group undertakings and other participating interests
1,500,000 
- 
Taxes and social security
245,735 
461,100 
Other creditors
14,627 
- 
Loans from directors
240 
- 
Accruals
2,400 
2,400 
2,421,646 
915,403 
- 6 -
Maxton Design Ltd Notes to the Accounts for the year ended 30 June 2023
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
21,766 
24,956 
2023 
2022 
£ 
£ 
Provision at start of year
24,956 
11,811 
(Credited)/charged to the profit and loss account
(3,190)
13,145 
Provision at end of year
21,766 
24,956 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
3,141 
10
Transactions with related parties
Maxton Design UK Holdings Limited At the balance sheet date, the company owed £1,500,000 (2022: £0) to Maxton Design UK Holdings Limited.
11
Controlling party
Maxton Design Limited is a wholly owned subsidiary of Maxton Design UK Holding Ltd, a company registered in England and Wales. The registered office of the Holding Company is 7 Gilhusum Road, Gildersome, Leeds, United Kingdom, LS27 7FN
12
Average number of employees
During the year the average number of employees was 21 (2022: 20).
- 7 -