2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,741,957 274,596 331,514 104,410 1,789,449 1,789,449 1,741,957 xbrli:pure xbrli:shares iso4217:GBP 07533945 2023-04-01 2024-03-31 07533945 2024-03-31 07533945 2023-03-31 07533945 2022-04-01 2023-03-31 07533945 2023-03-31 07533945 2022-03-31 07533945 core:FurnitureFittings 2023-04-01 2024-03-31 07533945 bus:Director1 2023-04-01 2024-03-31 07533945 core:FurnitureFittings 2023-03-31 07533945 core:FurnitureFittings 2024-03-31 07533945 core:WithinOneYear 2024-03-31 07533945 core:WithinOneYear 2023-03-31 07533945 core:ShareCapital 2024-03-31 07533945 core:ShareCapital 2023-03-31 07533945 core:RetainedEarningsAccumulatedLosses 2024-03-31 07533945 core:RetainedEarningsAccumulatedLosses 2023-03-31 07533945 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 07533945 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 07533945 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 07533945 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 07533945 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 07533945 core:Non-currentFinancialInstruments 2024-03-31 07533945 core:Non-currentFinancialInstruments 2023-03-31 07533945 core:FurnitureFittings 2023-03-31 07533945 bus:SmallEntities 2023-04-01 2024-03-31 07533945 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07533945 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07533945 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07533945 bus:FullAccounts 2023-04-01 2024-03-31 07533945 core:ComputerEquipment 2023-04-01 2024-03-31 07533945 core:ComputerEquipment 2023-03-31 07533945 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 07533945
Maxromy Productions Ltd
Filleted Unaudited Financial Statements
31 March 2024
Maxromy Productions Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
11,077
13,651
Investments
6
1,789,449
1,741,957
------------
------------
1,800,526
1,755,608
Current assets
Debtors
7
99,779
1,786
Cash at bank and in hand
195,299
79,267
---------
--------
295,078
81,053
Creditors: amounts falling due within one year
8
( 333,328)
( 126,528)
---------
---------
Net current liabilities
( 38,250)
( 45,475)
------------
------------
Total assets less current liabilities
1,762,276
1,710,133
Provisions
Taxation including deferred tax
( 107,813)
( 82,201)
------------
------------
Net assets
1,654,463
1,627,932
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,654,363
1,627,832
------------
------------
Shareholders funds
1,654,463
1,627,932
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Maxromy Productions Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
Mr D A Nicholls
Director
Company registration number: 07533945
Maxromy Productions Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, WC2H 7DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
43,890
16,311
60,201
Additions
1,118
1,118
--------
--------
--------
At 31 March 2024
43,890
17,429
61,319
--------
--------
--------
Depreciation
At 1 April 2023
37,232
9,318
46,550
Charge for the year
1,664
2,028
3,692
--------
--------
--------
At 31 March 2024
38,896
11,346
50,242
--------
--------
--------
Carrying amount
At 31 March 2024
4,994
6,083
11,077
--------
--------
--------
At 31 March 2023
6,658
6,993
13,651
--------
--------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023
1,741,957
Additions
274,596
Disposals
( 331,514)
Revaluations
104,410
------------
At 31 March 2024
1,789,449
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
1,789,449
------------
At 31 March 2023
1,741,957
------------
7. Debtors
2024
2023
£
£
Trade debtors
47,168
240
Other debtors
52,611
1,546
--------
-------
99,779
1,786
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4
1,079
Corporation tax
54,413
40,490
Social security and other taxes
51,292
46,668
Other creditors
227,619
38,291
---------
---------
333,328
126,528
---------
---------