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Registered Number: 04771395
England and Wales

 

 

 

MAXFE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Marc Ashley Barlow
Julia Karen Barlow
Registered Number 04771395
Registered Office c/o Melanie Curtis Accountants Ltd
100 Berkshire Place,
Winnersh, Wokingham
Berkshire
RG41 5RD
Secretary Julia Karen Barlow
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 October 2023.
Principal activities
Principal activity of the company during the financial year was of other retail sale of new goods in specialised stores.
Directors
The directors who served the company throughout the year were as follows:
Marc Ashley Barlow
Julia Karen Barlow

This report was approved by the board and signed on its behalf by:


----------------------------------
Marc Ashley Barlow
Director

Date approved: 25 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 8,820    8,820 
Tangible fixed assets 4 13,916    3,770 
22,736    12,590 
Current assets      
Stocks 5 330,924    333,867 
Debtors 6 45,172    24,087 
Cash at bank and in hand 198,228    249,651 
574,324    607,605 
Creditors: amount falling due within one year 7 (370,711)   (421,095)
Net current assets 203,613    186,510 
 
Total assets less current liabilities 226,349    199,100 
Provisions for liabilities 8 (3,480)   (1,499)
Net assets 222,869    197,601 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 222,769    197,501 
Shareholders' funds 222,869    197,601 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 July 2024 and were signed on its behalf by:


-------------------------------
Marc Ashley Barlow
Director
3
General Information
Maxfe Limited is a private company, limited by shares, registered in England and Wales, registration number 04771395, registration address c/o Melanie Curtis Accountants Ltd, 100 Berkshire Place,, Winnersh, Wokingham, Berkshire, RG41 5RD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Improvements to property 10% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 10 (2022 : 11).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 November 2022 8,820    8,820 
Additions  
Disposals  
At 31 October 2023 8,820    8,820 
Amortisation
At 01 November 2022  
Charge for year  
On disposals  
At 31 October 2023  
Net book values
At 31 October 2023 8,820    8,820 
At 31 October 2022 8,820    8,820 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 November 2022 24,249    25,827    31,888    2,778    18,309    103,051 
Additions 1,247      3,485    1,907    7,385    14,024 
Disposals          
At 31 October 2023 25,496    25,827    35,373    4,685    25,694    117,075 
Depreciation
At 01 November 2022 23,959    24,831    31,213    980    18,297    99,280 
Charge for year 314    249    924    903    1,489    3,879 
On disposals          
At 31 October 2023 24,273    25,080    32,137    1,883    19,786    103,159 
Net book values
Closing balance as at 31 October 2023 1,223    747    3,236    2,802    5,908    13,916 
Opening balance as at 01 November 2022 290    996    675    1,798    11    3,770 


5.

Stocks

2023
£
  2022
£
Work in Progress 85,901    160,681 
Stocks 245,023    173,186 
330,924    333,867 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 34,926    12,515 
Prepayments & Accrued Income 10,246    10,739 
Other Debtors   833 
45,172    24,087 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 137,662    118,083 
Social Security and Other Taxes 78,499    58,351 
Accrued Expenses 4,038    3,063 
Other Creditors 7,464    5,640 
Receipts In Advance 141,392    232,106 
Business Card 1,606    3,844 
Directors' Current Accounts 50   
370,711    421,095 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 3,480    1,499 
3,480    1,499 

4