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REGISTERED NUMBER: 01317804 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MAX THOMAS FAMILY HOLDINGS LTD

MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,004 3,534
Investments 5 9,805,300 9,805,300
Investment property 6 1,057,903 1,088,387
10,866,207 10,897,221

CURRENT ASSETS
Debtors 7 6,016 19,983
Cash at bank 67,632 151,326
73,648 171,309
CREDITORS
Amounts falling due within one year 8 191,394 142,042
NET CURRENT (LIABILITIES)/ASSETS (117,746 ) 29,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,748,461

10,926,488

PROVISIONS FOR LIABILITIES 9 148,518 148,518
NET ASSETS 10,599,943 10,777,970

CAPITAL AND RESERVES
Called up share capital 1,685,660 1,685,660
Share premium 57,500 57,500
Fair value reserve 10 781,677 781,677
Retained earnings 8,075,106 8,253,133
10,599,943 10,777,970

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

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

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:



Mr M P Thomas - Director


MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Max Thomas Family Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01317804

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the 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 Max Thomas Family Holdings Ltd 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

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

Revenue represents the rent receivable by the company.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 15% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

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

MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 303,222
DEPRECIATION
At 1 April 2022 299,688
Charge for year 530
At 31 March 2023 300,218
NET BOOK VALUE
At 31 March 2023 3,004
At 31 March 2022 3,534

MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 9,805,300
NET BOOK VALUE
At 31 March 2023 9,805,300
At 31 March 2022 9,805,300

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,088,387
Revaluations (30,484 )
At 31 March 2023 1,057,903
NET BOOK VALUE
At 31 March 2023 1,057,903
At 31 March 2022 1,088,387

Fair value at 31 March 2023 is represented by:
£   
Cost 1,057,903

The directors consider that the market values of the properties were as per the values stated in the financial statements.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 14,162
Other debtors 6,016 5,821
6,016 19,983

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 102,049 -
Taxation and social security 18,919 65,265
Other creditors 70,426 76,777
191,394 142,042

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 148,518 148,518

MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 148,518
Balance at 31 March 2023 148,518

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 781,677

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.