Registered number
06530768
Max Exhibitions Limited
Unaudited Filleted Accounts
30 June 2023
Max Exhibitions Limited
Registered number: 06530768
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 2,109 41,613
Cash at bank and in hand 87,419 95,162
89,528 136,775
Creditors: amounts falling due within one year 4 (20,536) (32,029)
Net current assets 68,992 104,746
Total assets less current liabilities 68,992 104,746
Creditors: amounts falling due after more than one year 5 (58,560) (77,797)
Net assets 10,432 26,949
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,332 26,849
Shareholders' funds 10,432 26,949
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Hyder
Director
Approved by the board on 15 March 2024
Max Exhibitions Limited
Notes to the Accounts
for the period from 1 August 2022 to 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents sales of marketing space and services for the exhibition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Other debtors 2,109 41,613
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,269 30,402
Taxation and social security costs (8,241) (14,385)
Other creditors 18,508 16,012
20,536 32,029
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans-CBILS 58,560 77,797
6 Related party transactions
Management fees of £15,000 (2022-£15,000) was payable to Max Publishing Limited, which is under the common control of the directors.
7 Controlling party
The ultimate controlling party are the three directors by virtue of them holding 100% shares.
8 Other information
Max Exhibitions Limited is a private company limited by shares and incorporated in England. Its registered office is:
United House
North Road
Lodnon
N7 9DP
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