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MAXPRONE2 LIMITED

Registered Number
11972419
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2023

MAXPRONE2 LIMITED
Company Information
for the period from 1 May 2022 to 30 June 2023

Directors

DIXON, Angela
DIXON, Mark Robert

Registered Address

33 Main Street
Lowick
Berwick-Upon-Tweed
TD15 2UD

Registered Number

11972419 (England and Wales)
MAXPRONE2 LIMITED
Balance Sheet as at
30 June 2023

Notes

30 Jun 2023

30 Apr 2022

£

£

£

£

Fixed assets
Tangible assets5444,0856,012
444,0856,012
Current assets
Debtors629,053285,672
Cash at bank and on hand90,299118,702
119,352404,374
Creditors amounts falling due within one year7(86,833)(119,993)
Net current assets (liabilities)32,519284,381
Total assets less current liabilities476,604290,393
Creditors amounts falling due after one year8(97,070)-
Provisions for liabilities10(21,220)(1,111)
Net assets358,314289,282
Capital and reserves
Called up share capital21
Profit and loss account358,312289,281
Shareholders' funds358,314289,282
The financial statements were approved and authorised for issue by the Board of Directors on 19 October 2023, and are signed on its behalf by:
DIXON, Angela
Director
DIXON, Mark Robert
Director

Registered Company No. 11972419
MAXPRONE2 LIMITED
Notes to the Financial Statements
for the period ended 30 June 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.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Vehicles5
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 May 22--10,16810,168
Additions338,248100,9353,631442,814
At 30 June 23338,248100,93513,799452,982
Depreciation and impairment
At 01 May 22--4,1564,156
Charge for year-1,6823,0584,740
Other adjustments--11
At 30 June 23-1,6827,2158,897
Net book value
At 30 June 23338,24899,2536,584444,085
At 30 April 22--6,0126,012
6.Debtors

2023

2022

££
Trade debtors / trade receivables28,34732,707
Amounts owed by associates and joint ventures / participating interests-252,356
Other debtors1609
Prepayments and accrued income705-
Total29,053285,672
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables32-
Bank borrowings and overdrafts10,80043,333
Amounts owed to related parties834-
Taxation and social security51,33075,459
Finance lease and HP contracts22,638-
Accrued liabilities and deferred income1,1991,201
Total86,833119,993
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts20,867-
Other creditors76,203-
Total97,070-
9.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts76,203-
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)21,2201,111
Total21,2201,111