Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity22023-01-01false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13790982 2023-01-01 2023-12-31 13790982 2021-12-09 2022-12-31 13790982 2023-12-31 13790982 2022-12-31 13790982 c:Director1 2023-01-01 2023-12-31 13790982 c:Director2 2023-01-01 2023-12-31 13790982 c:RegisteredOffice 2023-01-01 2023-12-31 13790982 d:PlantMachinery 2023-01-01 2023-12-31 13790982 d:PlantMachinery 2023-12-31 13790982 d:PlantMachinery 2022-12-31 13790982 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13790982 d:ComputerEquipment 2023-01-01 2023-12-31 13790982 d:ComputerEquipment 2023-12-31 13790982 d:ComputerEquipment 2022-12-31 13790982 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13790982 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13790982 d:FreeholdInvestmentProperty 2023-12-31 13790982 d:FreeholdInvestmentProperty 2022-12-31 13790982 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 13790982 d:CurrentFinancialInstruments 2023-12-31 13790982 d:CurrentFinancialInstruments 2022-12-31 13790982 d:Non-currentFinancialInstruments 2023-12-31 13790982 d:Non-currentFinancialInstruments 2022-12-31 13790982 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13790982 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13790982 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13790982 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13790982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 13790982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 13790982 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 13790982 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 13790982 d:ShareCapital 2023-12-31 13790982 d:ShareCapital 2022-12-31 13790982 d:RetainedEarningsAccumulatedLosses 2023-12-31 13790982 d:RetainedEarningsAccumulatedLosses 2022-12-31 13790982 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13790982 c:OrdinaryShareClass1 2023-12-31 13790982 c:OrdinaryShareClass1 2022-12-31 13790982 c:FRS102 2023-01-01 2023-12-31 13790982 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13790982 c:FullAccounts 2023-01-01 2023-12-31 13790982 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13790982









MAXINCA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MAXINCA LIMITED
 
 
COMPANY INFORMATION


Directors
R J Barnes 
R F Barnes 




Registered number
13790982



Registered office
18a/20 King Street

Maidenhead

Berkshire

United Kingdom

SL6 1EF




Accountants
Donald Reid Limited
Chartered Accountants

Prince Albert House

20 King Street

Maidenhead

Berkshire

SL6 1DT





 
MAXINCA LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10


 
MAXINCA LIMITED
REGISTERED NUMBER: 13790982

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
449
811

Investment property
 5 
400,000
418,410

  
400,449
419,221

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,471

Cash at bank and in hand
 7 
5,041
8,125

  
5,041
9,596

Creditors: amounts falling due within one year
 8 
(165,786)
(168,435)

Net current liabilities
  
 
 
(160,745)
 
 
(158,839)

Total assets less current liabilities
  
239,704
260,382

Creditors: amounts falling due after more than one year
 9 
(260,415)
(267,910)

  

Net liabilities
  
(20,711)
(7,528)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(20,811)
(7,628)

  
(20,711)
(7,528)


Page 1

 
MAXINCA LIMITED
REGISTERED NUMBER: 13790982
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 August 2024.




R F Barnes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Maxinca Limited is a private company limited by shares. The company is registered in England and Wales. The registered office is 18a/20 King Street, Maidenhead, Berkshire, United Kingdom, SL6 1EF. The presentational currency is GBP with the level of rounding in the financial statements being to £1

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net liabilities at the period end of £20,711 (2022: £7,528). As the company continues to be supported by its creditors, the directors consider it appropriate to prepare the accounts on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
284
800
1,084



At 31 December 2023

284
800
1,084



Depreciation


At 1 January 2023
39
234
273


Charge for the year on owned assets
95
267
362



At 31 December 2023

134
501
635



Net book value



At 31 December 2023
150
299
449



At 31 December 2022
245
566
811

Page 6

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
418,410


Deficit on revaluation
(18,410)



At 31 December 2023
400,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



At 31 December 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:



Page 7

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

31 December 2022
31 December 2022
£
£


Trade debtors
-
1,471

-
1,471



7.


Cash and cash equivalents

31 December 2022
31 December 2022
£
£

Cash at bank and in hand
5,041
8,125

5,041
8,125



8.


Creditors: Amounts falling due within one year

31 December 2022
31 December 2022
£
£

Other loans
7,514
5,035

Other creditors
155,872
155,293

Accruals and deferred income
2,400
8,107

165,786
168,435


Page 8

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

31 December 2022
31 December 2022
£
£

Other loans
260,415
267,910

260,415
267,910


The following liabilities were secured:

31 December 
31 December
2023
2022



Mortgages due for payment within 1 year
7,514
5,035

Mortgages due for payment within 1-2 years
9,149
39,861

Mortgages due for payment after 5 years
251,266
228,049

267,929
272,945

Details of security provided:

Mortgages with a total value of £267,929 are secured by a fixed charge over the Investment Properties held by the company.

Page 9

 
MAXINCA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


31 December 2022
31 December 2022
£
£

Amounts falling due within one year

Other loans
7,514
5,035


7,514
5,035

Amounts falling due 1-2 years

Other loans
9,149
39,861


9,149
39,861


Amounts falling due after more than 5 years

Other loans
251,266
228,049

251,266
228,049

267,929
272,945



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

At the period end date, included within other creditors, is an amount of £155,871 (2022: £155,293) owed to the directors by the company.

 
Page 10