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Company Registration No. 07266608 (England and Wales)
Maximize Your Time Limited Unaudited accounts for the year ended 30 June 2024
Maximize Your Time Limited Unaudited accounts Contents
Page
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Maximize Your Time Limited Company Information for the year ended 30 June 2024
Director
Mrs J Lancaster
Company Number
07266608 (England and Wales)
Registered Office
20 THE SLIPWAY LOCK APPROACH PORT SOLENT PORTSMOUTH PO6 4TJ
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Maximize Your Time Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,855 
8,697 
Current assets
Debtors
73,289 
63,975 
Cash at bank and in hand
192,756 
115,566 
266,045 
179,541 
Creditors: amounts falling due within one year
(210,809)
(106,910)
Net current assets
55,236 
72,631 
Total assets less current liabilities
65,091 
81,328 
Creditors: amounts falling due after more than one year
(9,167)
(19,167)
Net assets
55,924 
62,161 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
55,824 
62,061 
Shareholders' funds
55,924 
62,161 
For the year ending 30 June 2024 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 7 September 2024 and were signed on its behalf by
Mrs J Lancaster Director Company Registration No. 07266608
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Maximize Your Time Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Maximize Your Time Limited is a private company, limited by shares, registered in England and Wales, registration number 07266608. The registered office is 20 THE SLIPWAY LOCK APPROACH, PORT SOLENT, PORTSMOUTH, PO6 4TJ.
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.
Accounting Convention
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.
Revenue
Revenue, described as turnover is the value of services, net of VAT and discounts, provided to customers during the year.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% per annum reducing balance
Computer equipment
33% on cost
Hire Purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits of risk of ownership remain with the lessor are charged to the profit and loss account as incurred.
Government grants
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income, on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently adminstered fund. The pension costs charge represents contributions payable for the period by the company to the fund.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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Maximize Your Time Limited Notes to the Accounts for the year ended 30 June 2024
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
2,486 
31,681 
34,167 
Additions
- 
3,424 
3,424 
At 30 June 2024
2,486 
35,105 
37,591 
Depreciation
At 1 July 2023
2,486 
22,984 
25,470 
Charge for the year
- 
2,266 
2,266 
At 30 June 2024
2,486 
25,250 
27,736 
Net book value
At 30 June 2024
- 
9,855 
9,855 
At 30 June 2023
- 
8,697 
8,697 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
59,795 
50,506 
Other debtors
13,494 
13,469 
73,289 
63,975 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Trade creditors
16,375 
13,255 
Taxes and social security
34,548 
31,544 
Other creditors
3,329 
3,377 
Loans from directors
74 
18 
Deferred income
146,483 
48,716 
210,809 
106,910 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,167 
19,167 
8
Loans to directors
The overdrawn directors loan has been repaid during the year
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Maximize Your Time Limited Notes to the Accounts for the year ended 30 June 2024
9
Average number of employees
During the year the average number of employees was 17 (2023: 15).
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