IRIS Accounts Production v23.4.0.336 05012073 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050120732023-01-31050120732024-01-31050120732023-02-012024-01-31050120732022-01-31050120732022-02-012023-01-31050120732023-01-3105012073ns15:EnglandWales2023-02-012024-01-3105012073ns14:PoundSterling2023-02-012024-01-3105012073ns10:Director12023-02-012024-01-3105012073ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3105012073ns10:SmallEntities2023-02-012024-01-3105012073ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3105012073ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3105012073ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3105012073ns10:FullAccounts2023-02-012024-01-3105012073ns10:Director22023-02-012024-01-3105012073ns10:RegisteredOffice2023-02-012024-01-3105012073ns5:CurrentFinancialInstruments2024-01-3105012073ns5:CurrentFinancialInstruments2023-01-3105012073ns5:Non-currentFinancialInstruments2024-01-3105012073ns5:Non-currentFinancialInstruments2023-01-3105012073ns5:ShareCapital2024-01-3105012073ns5:ShareCapital2023-01-3105012073ns5:FurtherSpecificReserve3ComponentTotalEquity2024-01-3105012073ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3105012073ns5:RetainedEarningsAccumulatedLosses2024-01-3105012073ns5:RetainedEarningsAccumulatedLosses2023-01-3105012073ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-31
REGISTERED NUMBER: 05012073 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MAXFIELD INVESTMENTS LTD

MAXFIELD INVESTMENTS LTD (REGISTERED NUMBER: 05012073)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAXFIELD INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A J M Pomfret
H M Pomfret





REGISTERED OFFICE: Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN





REGISTERED NUMBER: 05012073 (England and Wales)





ACCOUNTANTS: Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

MAXFIELD INVESTMENTS LTD (REGISTERED NUMBER: 05012073)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 964,540 1,905,769

CURRENT ASSETS
Cash at bank 228,689 5,027

CREDITORS
Amounts falling due within one year 5 136,399 50,401
NET CURRENT ASSETS/(LIABILITIES) 92,290 (45,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,830

1,860,395

CREDITORS
Amounts falling due after more than
one year

6

(157,701

)

(821,490

)

PROVISIONS FOR LIABILITIES (75,208 ) (110,924 )
NET ASSETS 823,921 927,981

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 7 284,351 582,382
Retained earnings 538,570 344,599
SHAREHOLDERS' FUNDS 823,921 927,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:



A J M Pomfret - Director


MAXFIELD INVESTMENTS LTD (REGISTERED NUMBER: 05012073)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Maxfield Investments 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,905,769
Disposals (941,229 )
At 31 January 2024 964,540
NET BOOK VALUE
At 31 January 2024 964,540
At 31 January 2023 1,905,769

MAXFIELD INVESTMENTS LTD (REGISTERED NUMBER: 05012073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2018 223,019
Valuation in 2022 136,540
Cost 604,981
964,540

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,779 27,094
Taxation and social security 105,547 2,945
Other creditors 27,073 20,362
136,399 50,401

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 157,701 821,490

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 142,586 713,114

7. RESERVES
Fair
value
reserve
£   
At 1 February 2023 582,382
Transfer revaluation reserve (298,031 )

At 31 January 2024 284,351