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REGISTERED NUMBER: 05322432 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MAXEN LIMITED

MAXEN LIMITED (REGISTERED NUMBER: 05322432)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAXEN LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S A Dawson
M J Merryweather
Mrs C C Wilson





SECRETARY: Mrs C C Wilson





REGISTERED OFFICE: Lee Smith Street
Hedon Road
Hull
HU9 1SD





REGISTERED NUMBER: 05322432 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

MAXEN LIMITED (REGISTERED NUMBER: 05322432)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 282,568 288,673
Investments 5 900,000 1,100,000
1,182,568 1,388,673

CURRENT ASSETS
Debtors 6 29,381 28,351
Cash at bank and in hand 45,077 70,017
74,458 98,368
CREDITORS
Amounts falling due within one year 7 788,276 920,034
NET CURRENT LIABILITIES (713,818 ) (821,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,750

567,007

PROVISIONS FOR LIABILITIES 108 128
NET ASSETS 468,642 566,879

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 368,642 466,879
468,642 566,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MAXEN LIMITED (REGISTERED NUMBER: 05322432)

BALANCE SHEET - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:




S A Dawson - Director



M J Merryweather - Director


MAXEN LIMITED (REGISTERED NUMBER: 05322432)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Maxen Limited is a private company, limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Lee Smith Street, Hedon Road, East Yorkshire, HU9 1SD.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Preparation of consolidated financial statements
The financial statements contain information about Maxen Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment33% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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


MAXEN LIMITED (REGISTERED NUMBER: 05322432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 300,000 1,861 301,861
DEPRECIATION
At 1 January 2023 12,000 1,188 13,188
Charge for year 6,000 105 6,105
At 31 December 2023 18,000 1,293 19,293
NET BOOK VALUE
At 31 December 2023 282,000 568 282,568
At 31 December 2022 288,000 673 288,673

Cost or valuation at 31 December 2023 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2023 300,000 - 300,000
Cost - 1,861 1,861
300,000 1,861 301,861

MAXEN LIMITED (REGISTERED NUMBER: 05322432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued

Freehold land and buildings were valued on an open market basis basis on 31 December 2022 by the directors .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,608,000
PROVISIONS
At 1 January 2023 508,000
Provision for year 200,000
At 31 December 2023 708,000
NET BOOK VALUE
At 31 December 2023 900,000
At 31 December 2022 1,100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,600 27,600
Prepayments 1,781 751
29,381 28,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 751 1,073
Amounts owed to group undertakings 756,598 886,598
Tax 6,364 9,679
Social security and other taxes 22,052 20,719
Other creditors 713 285
Accrued expenses 1,798 1,680
788,276 920,034

8. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors, none of whom has overall control.