1 December 2022 false No description of principal activity Taxfiler 2024.5 true 12316971business:PrivateLimitedCompanyLtd2022-12-012023-11-30 123169712022-11-30 123169712022-12-012023-11-30 12316971business:AuditExemptWithAccountantsReport2022-12-012023-11-30 12316971business:FilletedAccounts2022-12-012023-11-30 123169712023-11-30 12316971business:Director12022-12-012023-11-30 12316971business:RegisteredOffice2022-12-012023-11-30 123169712022-11-30 12316971core:WithinOneYear2023-11-30 12316971core:WithinOneYear2022-11-30 12316971core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 12316971core:ShareCapitalcore:PreviouslyStatedAmount2022-11-30 12316971core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 12316971core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-11-30 12316971core:PreviouslyStatedAmount2023-11-30 12316971core:PreviouslyStatedAmount2022-11-30 12316971business:SmallEntities2022-12-012023-11-30 12316971countries:EnglandWales2022-12-012023-11-30 12316971core:FurnitureFittings2022-12-012023-11-30 12316971core:IntangibleAssetsOtherThanGoodwill2022-11-30 12316971core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30 12316971core:IntangibleAssetsOtherThanGoodwill2023-11-30 12316971core:FurnitureFittings2022-11-30 12316971core:FurnitureFittings2023-11-30 123169712021-12-012022-11-30 iso4217:GBP xbrli:pure
Company Registration No. 12316971 (England and Wales)
The Max Welt Company Limited Unaudited accounts for the year ended 30 November 2023
The Max Welt Company Limited Unaudited accounts Contents
Page
- 2 -
The Max Welt Company Limited Company Information for the year ended 30 November 2023
Director
Mrs C Dickinson
Company Number
12316971 (England and Wales)
Registered Office
7 Fitzroy Terrace Fitzroy Road Plymouth PL1 5PX England
Accountants
PBS Accounting Limited 11 Long Meadow Close Plympton Plymouth Devon PL7 4JG
- 3 -
The Max Welt Company Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
337 
Tangible assets
- 
705 
- 
1,042 
Current assets
Inventories
- 
1,866 
Debtors
- 
33 
Cash at bank and in hand
- 
242 
- 
2,141 
Creditors: amounts falling due within one year
(261)
(2,972)
Net current liabilities
(261)
(831)
Total assets less current liabilities
(261)
211 
Provisions for liabilities
Deferred tax
- 
(134)
Net (liabilities)/assets
(261)
77 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(262)
76 
Shareholders' funds
(261)
77 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 August 2024 and were signed on its behalf by
Mrs C Dickinson Director Company Registration No. 12316971
- 4 -
The Max Welt Company Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
The Max Welt Company Limited is a private company, limited by shares, registered in England and Wales, registration number 12316971. The registered office is 7 Fitzroy Terrace, Fitzroy Road, Plymouth, PL1 5PX, England. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is calculated as 10% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
The Max Welt Company Limited Notes to the Accounts for the year ended 30 November 2023
Going concern
The directors have decided to cease trade and wind up the company, the financial statements have been prepared on a basis other than going concern.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 December 2022
450 
Disposals
(450)
At 30 November 2023
- 
Amortisation
At 1 December 2022
113 
On disposals
(113)
At 30 November 2023
- 
Net book value
At 30 November 2023
- 
At 30 November 2022
337 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 December 2022
1,084 
Disposals
(1,084)
At 30 November 2023
- 
Depreciation
At 1 December 2022
379 
On disposals
(379)
At 30 November 2023
- 
Net book value
At 30 November 2023
- 
At 30 November 2022
705 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
33 
- 6 -
The Max Welt Company Limited Notes to the Accounts for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
(111)
147 
Loans from directors
(499)
2,045 
Accruals
871 
780 
261 
2,972 
8
Loans to directors
The Director repaid the overdrawn director's loan account within 9 months of the year end, thus there is no tax due on loans to participators under TA2010, section 455
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 7 -