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REGISTERED NUMBER: SC340182 (Scotland)










Unaudited Financial Statements

for the Year Ended

31 March 2024

for

MAXALULA PROPERTIES LTD

MAXALULA PROPERTIES LTD (REGISTERED NUMBER: SC340182)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAXALULA PROPERTIES LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Stewart





REGISTERED OFFICE: Oakfield House
378 Brandon Street
Motherwell
Strathclyde
ML1 1XA





REGISTERED NUMBER: SC340182 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

MAXALULA PROPERTIES LTD (REGISTERED NUMBER: SC340182)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,100 -
Investment property 5 297,735 297,735
298,835 297,735

CURRENT ASSETS
Debtors 6 514 733
Cash at bank 4,103 25,290
4,617 26,023
CREDITORS
Amounts falling due within one year 7 (199,360 ) (224,482 )
NET CURRENT LIABILITIES (194,743 ) (198,459 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,092

99,276

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 103,992 99,176
104,092 99,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MAXALULA PROPERTIES LTD (REGISTERED NUMBER: SC340182)

Balance Sheet - continued
31 March 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





J Stewart - Director


MAXALULA PROPERTIES LTD (REGISTERED NUMBER: SC340182)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Maxalula Properties Ltd is a private company, limited by shares , registered in Scotland. 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.

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 - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

MAXALULA PROPERTIES LTD (REGISTERED NUMBER: SC340182)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 1,339
Additions 1,278
Disposals (1,339 )
At 31 March 2024 1,278
DEPRECIATION
At 1 April 2023 1,339
Charge for year 178
Eliminated on disposal (1,339 )
At 31 March 2024 178
NET BOOK VALUE
At 31 March 2024 1,100

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 297,735
NET BOOK VALUE
At 31 March 2024 297,735
At 31 March 2023 297,735

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82 310
Other debtors 432 423
514 733

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 872 6,901
Other creditors 198,488 217,581
199,360 224,482