Company registration number 04864554 (England and Wales)
Maxi's (Rotisserie) Limited
Unaudited
financial statements
for the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Maxi's (Rotisserie) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Maxi's (Rotisserie) Limited
Statement of financial position
as at 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,624
6,616
Current assets
Stocks
900
800
Debtors
2,747
6,234
Cash at bank and in hand
53,055
59,249
56,702
66,283
Creditors: amounts falling due within one year
(36,030)
(38,057)
Net current assets
20,672
28,226
Total assets less current liabilities
26,296
34,842
Creditors: amounts falling due after more than one year
(14,667)
(22,667)
Provisions for liabilities
4
(1,069)
(1,257)
Net assets
10,560
10,918
Capital and reserves
Called up share capital
5
1,317
1,316
Profit and loss reserves
9,243
9,602
Total equity
10,560
10,918
Maxi's (Rotisserie) Limited
Statement of financial position (continued)
as at 31 July 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 October 2023 and are signed on its behalf by:
R J Y H Wong
Director
Company Registration No. 04864554
Maxi's (Rotisserie) Limited
Notes to the financial statements
for the year ended 31 July 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax. Turnover is recognised on supply of goods to customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Maxi's (Rotisserie) Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
1
Accounting policies
(continued)
- 4 -
Government grants
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 August 2022 and 31 July 2023
11,647
Depreciation and impairment
At 1 August 2022
5,031
Depreciation charged in the year
992
At 31 July 2023
6,023
Carrying amount
At 31 July 2023
5,624
At 31 July 2022
6,616
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,069
1,257
Maxi's (Rotisserie) Limited
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 5 -
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
43,860
43,860
439
439
B Ordinary shares of 1p each
43,860
43,860
439
439
C Ordinary shares of 1p each
43,860
43,860
439
438
131,580
131,580
1,317
1,316
7
Company information
Maxi's (Rotisserie) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Plot 26, Ings Lane, York Business Park, Nether Poppleton, York, North Yorkshire, YO26 6RA.