IRIS Accounts Production v24.1.9.2 05623141 Board of Directors Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056231412022-11-30056231412023-11-30056231412022-12-012023-11-30056231412021-11-30056231412021-12-012022-11-30056231412022-11-3005623141ns15:EnglandWales2022-12-012023-11-3005623141ns14:PoundSterling2022-12-012023-11-3005623141ns10:Director12022-12-012023-11-3005623141ns10:Director22022-12-012023-11-3005623141ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3005623141ns10:SmallEntities2022-12-012023-11-3005623141ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3005623141ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3005623141ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3005623141ns10:FullAccounts2022-12-012023-11-3005623141ns10:CompanySecretary12022-12-012023-11-3005623141ns10:RegisteredOffice2022-12-012023-11-3005623141ns5:CurrentFinancialInstruments2023-11-3005623141ns5:CurrentFinancialInstruments2022-11-3005623141ns5:Non-currentFinancialInstruments2023-11-3005623141ns5:Non-currentFinancialInstruments2022-11-3005623141ns5:ShareCapital2023-11-3005623141ns5:ShareCapital2022-11-3005623141ns5:RetainedEarningsAccumulatedLosses2023-11-3005623141ns5:RetainedEarningsAccumulatedLosses2022-11-3005623141ns5:PlantMachinery2022-12-012023-11-3005623141ns5:MotorVehicles2022-12-012023-11-3005623141ns5:PlantMachinery2022-11-3005623141ns5:MotorVehicles2022-11-3005623141ns5:PlantMachinery2023-11-3005623141ns5:MotorVehicles2023-11-3005623141ns5:PlantMachinery2022-11-3005623141ns5:MotorVehicles2022-11-3005623141ns5:LeasedAssetsHeldAsLessee2022-12-012023-11-3005623141ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3005623141ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30
REGISTERED NUMBER: 05623141 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Maxtrak Limited

Maxtrak Limited (Registered number: 05623141)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maxtrak Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr M A Edmondson
Mr P J Edmondson





SECRETARY: Mr M A Edmondson





REGISTERED OFFICE: High Barns
Levens Bridge
Levens
Kendal
Cumbria
LA8 8EG





REGISTERED NUMBER: 05623141 (England and Wales)





ACCOUNTANTS: Benson Accountants
Wiza House
Station Road
Wigton
Cumbria
CA7 9BA

Maxtrak Limited (Registered number: 05623141)

Balance Sheet
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250,592 254,810

CURRENT ASSETS
Stocks 18,004 25,050
Debtors 5 118,523 84,136
Cash at bank 6,299 -
142,826 109,186
CREDITORS
Amounts falling due within one year 6 139,495 124,605
NET CURRENT ASSETS/(LIABILITIES) 3,331 (15,419 )
TOTAL ASSETS LESS CURRENT LIABILITIES 253,923 239,391

CREDITORS
Amounts falling due after more than one
year

7

(55,695

)

(72,451

)

PROVISIONS FOR LIABILITIES (45,059 ) (45,860 )
NET ASSETS 153,169 121,080

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 153,069 120,980
SHAREHOLDERS' FUNDS 153,169 121,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Maxtrak Limited (Registered number: 05623141)

Balance Sheet - continued
30 November 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 10 July 2024 and were signed on its behalf by:




Mr M A Edmondson - Director



Mr P J Edmondson - Director


Maxtrak Limited (Registered number: 05623141)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Maxtrak Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Maxtrak Limited (Registered number: 05623141)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have been passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represent a constant proportion on the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 432,128 4,000 436,128
Additions 25,000 7,900 32,900
Disposals (8,800 ) - (8,800 )
At 30 November 2023 448,328 11,900 460,228
DEPRECIATION
At 1 December 2022 177,543 3,775 181,318
Charge for year 27,167 2,031 29,198
Eliminated on disposal (880 ) - (880 )
At 30 November 2023 203,830 5,806 209,636
NET BOOK VALUE
At 30 November 2023 244,498 6,094 250,592
At 30 November 2022 254,585 225 254,810

The net book value of assets held above under finance leases and hire purchase contracts was £128,061 (2022 - £137,916).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 62,009 20,844
Other debtors 56,514 63,292
118,523 84,136

Maxtrak Limited (Registered number: 05623141)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 3,666 5,946
Hire purchase contracts 13,604 19,847
Trade creditors 3,455 1,125
Taxation and social security 10,271 1,212
Other creditors 108,499 96,475
139,495 124,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans 22,868 26,111
Hire purchase contracts 32,827 46,340
55,695 72,451

8. RELATED PARTY DISCLOSURES

The company was under the control of Mr M A & Mr P J Edmondson throughout the current and previous period. Mr M A & Mr P J Edmondson are directors of the company and majority shareholders, but there is no overall controlling party.

During the year goods were purchased from R A & E Edmondson, a farming partnership in which the directors are partners.

The directors have loan accounts with the company amounting to £105,091 (2022 - £93,516). The loans are interest free, unsecured and repayable on demand.

There were no further transactions with related parties required to be disclosed.