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REGISTERED NUMBER: 11606005 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Maxilux Systems Ltd

Maxilux Systems Ltd (Registered number: 11606005)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maxilux Systems Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: W J Cockayne
R P Cockayne





REGISTERED OFFICE: Euston House
12 Euston Place
Leamington Spa
Warwickshire
CV32 4BN





REGISTERED NUMBER: 11606005 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Maxilux Systems Ltd (Registered number: 11606005)

Balance Sheet
31 October 2023

31.10.23 31.10.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,611 5,206
Tangible assets 5 541,647 571,088
546,258 576,294

CURRENT ASSETS
Stocks 138,462 23,185
Debtors 6 4,832,789 1,444,263
Cash at bank 3,154,950 5,222,760
8,126,201 6,690,208
CREDITORS
Amounts falling due within one year 7 484,614 338,132
NET CURRENT ASSETS 7,641,587 6,352,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,187,845

6,928,370

PROVISIONS FOR LIABILITIES 23,582 15,948
NET ASSETS 8,164,263 6,912,422

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 8,164,173 6,912,332
8,164,263 6,912,422

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

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

Maxilux Systems Ltd (Registered number: 11606005)

Balance Sheet - continued
31 October 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 22 December 2023 and were signed on its behalf by:




R P Cockayne - Director



W J Cockayne - Director


Maxilux Systems Ltd (Registered number: 11606005)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Maxilux Systems 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Maxilux Systems Ltd (Registered number: 11606005)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 November 2022
and 31 October 2023 5,950
AMORTISATION
At 1 November 2022 744
Amortisation for year 595
At 31 October 2023 1,339
NET BOOK VALUE
At 31 October 2023 4,611
At 31 October 2022 5,206

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 466,086 27,850 6,619
Additions 22,501 36,924 2,731
Disposals - - -
At 31 October 2023 488,587 64,774 9,350
DEPRECIATION
At 1 November 2022 - 2,823 1,286
Charge for year 41,268 12,855 1,209
Eliminated on disposal - - -
At 31 October 2023 41,268 15,678 2,495
NET BOOK VALUE
At 31 October 2023 447,319 49,096 6,855
At 31 October 2022 466,086 25,027 5,333

Maxilux Systems Ltd (Registered number: 11606005)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 93,750 13,136 607,441
Additions - 22,478 84,634
Disposals (46,000 ) (5,345 ) (51,345 )
At 31 October 2023 47,750 30,269 640,730
DEPRECIATION
At 1 November 2022 28,297 3,947 36,353
Charge for year 5,596 6,968 67,896
Eliminated on disposal (2,930 ) (2,236 ) (5,166 )
At 31 October 2023 30,963 8,679 99,083
NET BOOK VALUE
At 31 October 2023 16,787 21,590 541,647
At 31 October 2022 65,453 9,189 571,088

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
as restated
£    £   
Trade debtors 211,706 68,506
Amounts owed by group undertakings 3,632,510 -
Other debtors 988,573 1,375,757
4,832,789 1,444,263

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
as restated
£    £   
Trade creditors 66,604 22,673
Taxation and social security 406,341 289,443
Other creditors 11,669 26,016
484,614 338,132

Maxilux Systems Ltd (Registered number: 11606005)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
as restated
£    £   
W J Cockayne
Balance outstanding at start of year 337,650 360,000
Amounts advanced 20,565 -
Amounts repaid - (22,350 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 358,215 337,650

Interest is repayable on the above loan at commercial rates.

9. RELATED PARTY DISCLOSURES

During the prior year, the company entered in to the following transactions:

- the company made an interest free loan to Halfpipe Properties Limited a company in which the director R Cockayne had control. At the current balance sheet date £200,000 (2022 - £200,000) was due to the company in respect of this advance.

- the company made an interest free loan to Wildtrip Limited a company in which the director W Cockayne had control At the current balance sheet date £200,000 (2022 - £200,000) was due to the company in respect of this advance.

- the company made an interest free loan to Maxilux Lighting Limited a company in which R Cockayne has control At the balance sheet date £92,350 (2022 - £52,500) was due to the company in respect of this .
advance.

During the current financial period, the company made an interest free loan to the ultimate parent company Halfpipe Holdings Limited, At the balance sheet date a sum of £3,632,510 (2022 £NIL) was due to the company in respect of this transaction.

10. ULTIMATE CONTROLLING PARTY

On the 7th March 2023 , following the implementation of a a share for share exchange restructuring arrangement, the company became a wholly owned subsidiary of Halfpipe Holdings Ltd a company registered in England and Wales.

The ultimate controlling party are the directors as a result of their shareholding in the ultimate parent company Halfpipe Holdings Limited.