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REGISTERED NUMBER: SC492977 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Maxam International Ltd

Maxam International Ltd (Registered number: SC492977)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Maxam International Ltd (Registered number: SC492977)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 42,000 48,000
Tangible assets 5 99,055 20,641
141,055 68,641

CURRENT ASSETS
Stocks 73,634 88,145
Debtors 6 307,457 267,959
Cash at bank 126,818 9,235
507,909 365,339
CREDITORS
Amounts falling due within one year 7 (248,830 ) (190,083 )
NET CURRENT ASSETS 259,079 175,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,134

243,897

CREDITORS
Amounts falling due after more than one
year

8

(273,454

)

(199,712

)

PROVISIONS FOR LIABILITIES - (2,002 )
NET ASSETS 126,680 42,183

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 106,680 22,183
SHAREHOLDERS' FUNDS 126,680 42,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Maxam International Ltd (Registered number: SC492977)

Balance Sheet - continued
31 December 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 3 September 2024 and were signed on its behalf by:





Mr J Edwards - Director


Maxam International Ltd (Registered number: SC492977)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Maxam International td is a private company, limited by shares, domiciled in Scotland, registration number SC492977 . The registered office is 14 Cultins Road, Sighthill Industrial Estate, Edinburgh, EH11 4DZ.

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 represents net invoiced sales of goods in respect of building repair products, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 etc - 25% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Maxam International Ltd (Registered number: SC492977)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023 12,000
Charge for year 6,000
At 31 December 2023 18,000
NET BOOK VALUE
At 31 December 2023 42,000
At 31 December 2022 48,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 33,837
Additions 93,763
At 31 December 2023 127,600
DEPRECIATION
At 1 January 2023 13,196
Charge for year 15,349
At 31 December 2023 28,545
NET BOOK VALUE
At 31 December 2023 99,055
At 31 December 2022 20,641

Maxam International Ltd (Registered number: SC492977)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 92,054
At 31 December 2023 92,054
DEPRECIATION
Charge for year 3,068
At 31 December 2023 3,068
NET BOOK VALUE
At 31 December 2023 88,986

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 289,532 256,092
Other debtors 17,925 11,867
307,457 267,959

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 13,734 -
Trade creditors 50,923 55,797
Taxation and social security 123,472 50,689
Other creditors 60,701 83,597
248,830 190,083

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 73,742 -
Other creditors 199,712 199,712
273,454 199,712