Registered number
02184151
Maxsel Limited
Filleted Accounts
31 December 2023
Maxsel Limited
Registered number: 02184151
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 354,291 352,699
Investments 4 29,563 31,602
383,854 384,301
Current assets
Stocks 46,682 43,315
Debtors 5 880,057 859,469
Cash at bank and in hand 32,569 80,957
959,308 983,741
Creditors: amounts falling due within one year 6 (108,148) (140,017)
Net current assets 851,160 843,724
Net assets 1,235,014 1,228,025
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,234,914 1,227,925
Shareholders' funds 1,235,014 1,228,025
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Z Ahmed
Director
Approved by the board on 18 September 2024
Maxsel Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 20% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 437,157 136,301 573,458
Additions - 8,127 8,127
At 31 December 2023 437,157 144,428 581,585
Depreciation
At 1 January 2023 90,159 130,600 220,759
Charge for the year 3,650 2,885 6,535
At 31 December 2023 93,809 133,485 227,294
Net book value
At 31 December 2023 343,348 10,943 354,291
At 31 December 2022 346,998 5,701 352,699
4 Investments
Other
investments
£
Cost
At 1 January 2023 31,602
Disposals (2,039)
At 31 December 2023 29,563
5 Debtors 2023 2022
£ £
Trade debtors 2,180 2,574
Other debtors 877,877 856,895
880,057 859,469
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 85,314 86,508
Corporation tax 17,309 25,548
Other taxes and social security costs 1,299 22,213
Other creditors 4,226 5,748
108,148 140,017
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Z Ahmed
Directors current account 589,650 130,282 (109,926) 610,006
589,650 130,282 (109,926) 610,006
8 Other information
Maxsel Limited is a private company limited by shares and incorporated in England. Its registered office is:
136 Heathfield Road
Handsworth
Birmingham
B19 1HJ
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