Company registration number 11674981 (England and Wales)
MAXOL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
MAXOL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MAXOL LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
56,560
56,560
Tangible assets
4
3,925
7,944
60,485
64,504
Current assets
Debtors
5
-
0
442
Cash at bank and in hand
48,503
60,179
48,503
60,621
Creditors: amounts falling due within one year
6
(95,554)
(101,963)
Net current liabilities
(47,051)
(41,342)
Net assets
13,434
23,162
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
13,334
23,062
Total equity
13,434
23,162

The notes on pages 2 to 4 form part of these financial statements.

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
Mr D R Shearer
Director
Company registration number 11674981 (England and Wales)
MAXOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Maxol Limited is a private company limited by shares incorporated in England and Wales. The registered office is 92 Little Sutton Lane, Sutton Coldfield, West Midlands, England, B75 6PG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Intangible fixed assets other than goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At present patent and licences are not being amortised as development is still ongoing.

Patents & licences
No amortisation
1.3
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment
20% Straight line
Computers
33% Straight line
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
MAXOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
3
Intangible fixed assets
Other
£
Cost
At 1 December 2022 and 30 November 2023
56,560
Amortisation and impairment
At 1 December 2022 and 30 November 2023
-
0
Carrying amount
At 30 November 2023
56,560
At 30 November 2022
56,560
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
18,919
Depreciation and impairment
At 1 December 2022
10,975
Depreciation charged in the year
4,019
At 30 November 2023
14,994
Carrying amount
At 30 November 2023
3,925
At 30 November 2022
7,944
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
442
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
95,554
101,963
MAXOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
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