Registered number
13878003
Maverick Hold Co Ltd
Unaudited Filleted Accounts
31 January 2024
Maverick Hold Co Ltd
Registered number: 13878003
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 12,864 5
Current assets
Debtors 4 508,725 -
Cash at bank and in hand 85,111 300,000
593,836 300,000
Creditors: amounts falling due within one year 5 (1,008) (38,607)
Net current assets 592,828 261,393
Net assets 605,692 261,398
Capital and reserves
Called up share capital 5 5
Profit and loss account 605,687 261,393
Shareholders' funds 605,692 261,398
The directors are 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 directors acknowledge their 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.
Thomas Ernest Jonathan Scott
Director
Approved by the board on 17 October 2024
Maverick Hold Co Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 February 2023 5 - 5
Additions - 12,859 12,859
At 31 January 2024 5 12,859 12,864
Included in investments in subsidiaries are the company's investment in CreateLondon Media Ltd (registration number-09162331), whose principal activity is advertising agencies, of which Maverick Hold Co Ltd owns 100% of the voting rights.
4 Debtors 2024 2023
£ £
Amounts owed by related parties 266,393 -
Other debtors 242,332 -
508,725 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to related parties - 38,607
Taxation and social security costs 1,008 -
1,008 38,607
6 Call up Share Capital
No of shares £
Allotted, issued and fully paid :
Ordinary shares of par value of @ £0.05 each
At 1 February 2023 100 5
Share issued in year - -
At 31 January 2024 100 5
7 Related party transaction
As at 31 January 2024, Maverick Hold Co Ltd was owed £266,393 from CreateLondon Media Ltd a company in which T E J Scott is a Director.
Key management personnel
As of 31 January 2024, it has been identified that T E J Scott, a director of the company, has an outstanding loan balance with the company totalling £242,333. This loan was provided to the director unsecured remains unpaid as of the reporting date with the nominal rate of interest being charged and will be repaid within 9 months after year end.
8 Other information
Maverick Hold Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Createlondon Media Ltd
Hersham Technology Park
Molesey Road, Hersham
Walton-On-Thames, United Kingdom
KT12 4RZ
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