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REGISTERED NUMBER: 04481855 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Maverick Investments Limited

Maverick Investments Limited (Registered number: 04481855)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Maverick Investments Limited (Registered number: 04481855)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
NON-CURRENT ASSETS
Investments 4 1,000 1,000
Investment property 5 2,255,000 2,255,000
2,256,000 2,256,000

CURRENT ASSETS
Debtors 6 4,760 6,586
Cash at bank 93,550 69,555
98,310 76,141
CURRENT LIABILITIES
Amounts falling due within one year 7 (71,045 ) (92,217 )
NET CURRENT ASSETS/(LIABILITIES) 27,265 (16,076 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,283,265 2,239,924

CURRENT LIABILITIES
Amounts falling due after more than one
year

8

(685,000

)

(725,000

)

PROVISIONS FOR LIABILITIES (102,525 ) (80,592 )
NET ASSETS 1,495,740 1,434,332

CAPITAL AND RESERVES
Called up share capital 349,200 349,200
Fair value reserve 10 307,575 343,575
Retained earnings 838,965 741,557
SHAREHOLDERS' FUNDS 1,495,740 1,434,332

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.

Maverick Investments Limited (Registered number: 04481855)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Mrs C McFarlane - Director


Maverick Investments Limited (Registered number: 04481855)

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

1. STATUTORY INFORMATION

Maverick Investments Limited 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: 04481855

Registered office: 'Hilarion'
Yew Tree Way
Prestbury
Macclesfield
Cheshire
SK10 4EX

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.

Rental income from investment properties leased out under operating leases is recognised in the statement of comprehensive income on a straight-line basis over the term of the lease.

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

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

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.

A deferred tax provision is recognised in respect of any increase or decrease in the fair value reserve.

The company's properties are held for long-term investment, the investment properties are accounted for in accordance with the FRS 102, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.


Maverick Investments Limited (Registered number: 04481855)

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

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 2,255,000
Additions 14,066
Revaluations (14,066 )
At 31 December 2023 2,255,000
NET BOOK VALUE
At 31 December 2023 2,255,000
At 31 December 2022 2,255,000

Maverick Investments Limited (Registered number: 04481855)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 55,850
Valuation in 2018 75,000
Valuation in 2019 (21,683 )
Valuation in 2021 315,000
Valuation in 2023 (14,066 )
Cost 1,844,899
2,255,000

The properties were externally revalued at 31 December 2021 by Thomson Associates , this is considered to be the fair value at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,760 4,760
Other debtors - 1,826
4,760 6,586

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 20,000
Other creditors 71,045 72,217
71,045 92,217

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 140,000
Amounts owed to associates 285,000 285,000
Other creditors 400,000 300,000
685,000 725,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 160,000

The loans are secured on the investment properties.

Maverick Investments Limited (Registered number: 04481855)

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

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023 343,575
Revaluation in year (11,394 )
Deferred tax movement (24,606 )

At 31 December 2023 307,575