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REGISTERED NUMBER: 09806884 (England and Wales)
















































Financial Statements

for the Year Ended 31 December 2023

for

Maxwell GeoSystems UK Ltd

Maxwell GeoSystems UK Ltd (Registered number: 09806884)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Maxwell GeoSystems UK Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Dr A S Maxwell





REGISTERED OFFICE: 65a Loxley Road
Wandsworth
London
SW18 3LL





REGISTERED NUMBER: 09806884 (England and Wales)





AUDITORS: Mander Duffill
Chartered Accountants & Statutory Auditor
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Maxwell GeoSystems UK Ltd (Registered number: 09806884)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,445 1,741

CURRENT ASSETS
Debtors 5 229,924 143,124
Cash at bank 56,985 30,459
286,909 173,583
CREDITORS
Amounts falling due within one year 6 477,796 313,471
NET CURRENT LIABILITIES (190,887 ) (139,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(188,442

)

(138,147

)

CREDITORS
Amounts falling due after more than one
year

7

(14,806

)

(24,946

)

PROVISIONS FOR LIABILITIES (611 ) (331 )
NET LIABILITIES (203,859 ) (163,424 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (203,959 ) (163,524 )
SHAREHOLDERS' FUNDS (203,859 ) (163,424 )

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





Dr A S Maxwell - Director


Maxwell GeoSystems UK Ltd (Registered number: 09806884)

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

1. STATUTORY INFORMATION

Maxwell GeoSystems UK Ltd 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.

Going concern
Management have prepared detailed forecasts for a period extending beyond 12 months from the date that these financial statements are approved. At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has also obtained assurance from its parent company that it will provide financial support to enable the company to meet its liabilities as they fall due if required. The financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods.

Revenue from the sale of goods or services is recognised when all of the following conditions are satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction can be measured reliably.

Specifically, revenue from the sale of goods is primarily recognised upon delivery or completion of the goods or services to customers.

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 etc - 33% on reducing balance

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.


Maxwell GeoSystems UK Ltd (Registered number: 09806884)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 4,122
Additions 1,569
At 31 December 2023 5,691
DEPRECIATION
At 1 January 2023 2,381
Charge for year 865
At 31 December 2023 3,246
NET BOOK VALUE
At 31 December 2023 2,445
At 31 December 2022 1,741

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 20,004 44,667
Amounts owed by group undertakings 29,060 18,643
Other debtors 180,860 79,814
229,924 143,124

Maxwell GeoSystems UK Ltd (Registered number: 09806884)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,140 9,890
Trade creditors 2,084 38
Amounts owed to group undertakings 281,664 234,854
Other creditors 183,908 68,689
477,796 313,471

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,806 24,946

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Julian Duffill (Senior Statutory Auditor)
for and on behalf of Mander Duffill

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr A S Maxwell.