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REGISTERED NUMBER: 11261957 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

MAXWELL FINE STUDIO LTD

MAXWELL FINE STUDIO LTD (REGISTERED NUMBER: 11261957)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAXWELL FINE STUDIO LTD

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr M Fine





REGISTERED OFFICE: 159 High Street
Barnet
Hertfordshire
EN5 5SU





REGISTERED NUMBER: 11261957 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

MAXWELL FINE STUDIO LTD (REGISTERED NUMBER: 11261957)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,088 1,036

CURRENT ASSETS
Debtors 5 13,578 7,955
Cash at bank 4,581 28,884
18,159 36,839
CREDITORS
Amounts falling due within one year 6 (11,607 ) (22,961 )
NET CURRENT ASSETS 6,552 13,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,640

14,914

CREDITORS
Amounts falling due after more than one
year

7

(7,367

)

(10,767

)
NET ASSETS 273 4,147

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 173 4,047
SHAREHOLDERS' FUNDS 273 4,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





Mr M Fine - Director


MAXWELL FINE STUDIO LTD (REGISTERED NUMBER: 11261957)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Maxwell Fine Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 30% on reducing balance
Computer equipment - 35% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022 935 1,818 2,753
Additions 549 247 796
At 31 March 2023 1,484 2,065 3,549
DEPRECIATION
At 1 April 2022 544 1,173 1,717
Charge for year 350 394 744
At 31 March 2023 894 1,567 2,461
NET BOOK VALUE
At 31 March 2023 590 498 1,088
At 31 March 2022 391 645 1,036

MAXWELL FINE STUDIO LTD (REGISTERED NUMBER: 11261957)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,992
Other debtors 13,578 4,963
13,578 7,955

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,400 3,400
Trade creditors - 792
Taxation and social security 8,207 18,769
11,607 22,961

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,367 10,767

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M Fine
Balance outstanding at start of year - 23,325
Amounts advanced 8,369 -
Amounts repaid - (23,325 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,369 -

Director's Loan will be repaid within nine months and one day of the company's year end.