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REGISTERED NUMBER: 09953802 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MAXY CASH & CARRY LIMITED

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


MAXY CASH & CARRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr Ogulcan Uygun





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 09953802 (England and Wales)





ACCOUNTANTS: UCS Accountants
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 346,753 224,904

CURRENT ASSETS
Stocks 5 601,908 744,200
Debtors 6 704,703 107,005
Cash at bank and in hand 142,164 3,459
1,448,775 854,664
CREDITORS
Amounts falling due within one year 7 1,057,871 237,218
NET CURRENT ASSETS 390,904 617,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

737,657

842,350

CREDITORS
Amounts falling due after more than one
year

8

(17,503

)

-

PROVISIONS FOR LIABILITIES 10 (64,763 ) (40,793 )
NET ASSETS 655,391 801,557

CAPITAL AND RESERVES
Called up share capital 11 210 210
Share premium 12 793,831 793,831
Retained earnings 12 (138,650 ) 7,516
SHAREHOLDERS' FUNDS 655,391 801,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 18 September 2024 and were signed by:





Mr Cagdas Duran - Director


MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Maxy Cash & Carry 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:


a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.


b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the most significant potential impact upon the carrying values of assets and liabilities within the next financial year are as follows;

i) Useful economic lives of tangible fixed assets
The useful economic lives used by the Company in respect of tangible fixed assets are set out in the accounting policies. These estimates are the best estimate based on past experience and expected performance and are regularly reviewed to ensure they remain appropriate.

ii) Bad debt provisioning
The company recognises an allowance for losses on debtors in an amount equal to the estimated probable losses net of recoveries. The allowance is based on an analysis of historical bad debt experience, current debtors aging and expected future write-offs, as well as an assessment of specific identifiable customer accounts considered as risk or uncollectible.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 - 309,910 15,975
Additions 16,008 108,733 5,228
Disposals - (20,000 ) -
At 31 March 2024 16,008 398,643 21,203
DEPRECIATION
At 1 April 2023 - 116,604 4,305
Charge for year 692 33,294 2,093
Eliminated on disposal - - -
At 31 March 2024 692 149,898 6,398
NET BOOK VALUE
At 31 March 2024 15,316 248,745 14,805
At 31 March 2023 - 193,306 11,670

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 21,000 17,440 364,325
Additions 54,120 9,010 193,099
Disposals (3,750 ) - (23,750 )
At 31 March 2024 71,370 26,450 533,674
DEPRECIATION
At 1 April 2023 9,187 9,325 139,421
Charge for year 7,855 5,207 49,141
Eliminated on disposal (1,641 ) - (1,641 )
At 31 March 2024 15,401 14,532 186,921
NET BOOK VALUE
At 31 March 2024 55,969 11,918 346,753
At 31 March 2023 11,813 8,115 224,904

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 601,908 744,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 489,087 93,255
Other debtors 54,057 13,750
Prepayments 161,559 -
704,703 107,005

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) - 18,513
Hire purchase contracts 5,001 -
Trade creditors 600,113 50,968
Wages 9,652 -
Tax 12,429 18,389
Social security and other taxes 1,525 -
Pensions - 654
VAT 15,864 1,027
Other creditors 382,987 144,167
Accrued expenses 30,300 3,500
1,057,871 237,218

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 17,503 -

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 18,513

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 64,763 40,793

MAXY CASH & CARRY LIMITED (REGISTERED NUMBER: 09953802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 40,793
Charge to Income statement during year 23,970
Balance at 31 March 2024 64,763

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
210 Ordinary £1 210 210

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 7,516 793,831 801,347
Deficit for the year (146,166 ) (146,166 )
At 31 March 2024 (138,650 ) 793,831 655,181

13. RELATED PARTY DISCLOSURES

Other loans under creditors within one year represents amounts due to the shareholders. This is an interest free loan made available to the company. The shareholders will not seek repayment of this loan until the company is in a position to repay this loan without detriment to its financial position.