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REGISTERED NUMBER: NI052105 (Northern Ireland)















MAXWELL & MCHUGH LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MAXWELL & MCHUGH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Alan Maxwell
Eamon McHugh



SECRETARY: Eamon McHugh



REGISTERED OFFICE: 45A Glen Road
STRABANE
Co. Tyrone
BT82 8LW



REGISTERED NUMBER: NI052105 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
Business Banking
PO Box 183
Donegal Square West
BELFAST
BT1 6JS



SOLICITORS: Crawford, Scally & Co.
45 Bowling Green,
STRABANE,
Co. Tyrone,
BT82 8BW

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MAXWELL & MCHUGH LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 30 November 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


6 March 2024

MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,283 35,128

CURRENT ASSETS
Stocks 950 10,950
Debtors 5 17,063 87,083
Cash at bank 173,200 93,501
191,213 191,534
CREDITORS
Amounts falling due within one year 6 5,034 12,447
NET CURRENT ASSETS 186,179 179,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,462

214,215

CREDITORS
Amounts falling due after more than one
year

7

(9,970

)

(4,818

)

PROVISIONS FOR LIABILITIES (5,564 ) (6,674 )
NET ASSETS 199,928 202,723

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 189,928 192,723
SHAREHOLDERS' FUNDS 199,928 202,723

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 6 March 2024 and were signed on its behalf by:




Alan Maxwell - Director



Eamon McHugh - Director


MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Maxwell & McHugh Limited is a private company, limited by shares , registered in Northern Ireland. 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 each asset over its estimated useful life.
Plant & machinery - 15% straight line

Stock
Stock is valued at the lower of cost and net realisable value.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant &
machinery
£   
COST
At 1 December 2022 91,805
Additions 6,000
Disposals (3,450 )
At 30 November 2023 94,355
DEPRECIATION
At 1 December 2022 56,677
Charge for year 11,845
Eliminated on disposal (3,450 )
At 30 November 2023 65,072
NET BOOK VALUE
At 30 November 2023 29,283
At 30 November 2022 35,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract 15,000 -
Directors' current accounts - 85,182
Sundry debtors 2,063 1,901
17,063 87,083

MAXWELL & MCHUGH LIMITED (REGISTERED NUMBER: NI052105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,250 6,865
Social security & other tax 784 5,582
5,034 12,447

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Directors loans 9,970 4,818

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loans 9,970 4,818

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Eamon McHugh
Balance outstanding at start of year 85,182 -
Amounts advanced - 85,182
Amounts repaid (85,182 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 85,182

At the start of the year, the company owed a member of key management personnel £4,818. During the year, £5,152 was advanced leaving £9,970 owing to members at 30 November 2023. No interest is charged on the loan. At the balance sheet date, £9,970 of the loan is presented within creditors: amounts falling due after more than one year.

9. ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.