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Registration number: 06479406

Max Adventure Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Max Adventure Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 10

 

Max Adventure Limited

Company Information

Director

Mr Andrew J Mackenney

Company secretary

Miss Lisa Louise Comber

Registered office

The Mews
Queen Street
Colyton
Devon
EX24 6JU

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

 

Max Adventure Limited

Director's Report for the Year Ended 31 January 2024

The director presents his report and the abridged financial statements for the year ended 31 January 2024.

Director of the company

The director who held office during the year was as follows:

Mr Andrew J Mackenney

Principal activity

The principal activity of the company is provision of worldwide adventure services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 31 October 2024 and signed on its behalf by:

.........................................
Mr Andrew J Mackenney
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Max Adventure Limited
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Max Adventure Limited for the year ended 31 January 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Max Adventure Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Max Adventure Limited and state those matters that we have agreed to state to the Board of Directors of Max Adventure Limited, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Max Adventure Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Max Adventure Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Max Adventure Limited. You consider that Max Adventure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Max Adventure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

31 October 2024

 

Max Adventure Limited

(Registration number: 06479406)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

10,000

10,000

Tangible assets

5

4,411

4,658

 

14,411

14,658

Current assets

 

Debtors

6

94

1,788

Cash at bank and in hand

 

7,078

27,050

 

7,172

28,838

Prepayments and accrued income

 

-

1,078

Creditors: Amounts falling due within one year

(15,018)

(29,030)

Net current (liabilities)/assets

 

(7,846)

886

Total assets less current liabilities

 

6,565

15,544

Creditors: Amounts falling due after more than one year

(79,233)

(70,853)

Accruals and deferred income

 

(825)

(805)

Net liabilities

 

(73,493)

(56,114)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(73,494)

(56,115)

Shareholders' deficit

 

(73,493)

(56,114)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Max Adventure Limited

(Registration number: 06479406)
Abridged Balance Sheet as at 31 January 2024

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Andrew J Mackenney
Director

   
     
 

Max Adventure Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Mews
Queen Street
Colyton
Devon
EX24 6JU
England

The principal place of business is:
The Carpenters
Dalwood
Axminster
Devon
EX13 7EB
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Max Adventure Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance basis

Office equipment

25% reducing balance basis

Motor vehicles

25 % reducing balance basis

Fixtures & Fittings

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Max Adventure Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Total
£

Cost or valuation

At 1 February 2023

10,000

At 31 January 2024

10,000

Amortisation

Carrying amount

At 31 January 2024

10,000

At 31 January 2023

10,000

 

Max Adventure Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Plant & machinery
 £

Total
£

Cost or valuation

At 1 February 2023

517

3,607

7,590

8,847

4,159

24,720

Additions

-

-

1,052

-

-

1,052

At 31 January 2024

517

3,607

8,642

8,847

4,159

25,772

Depreciation

At 1 February 2023

-

3,364

5,917

7,474

3,307

20,062

Charge for the year

-

61

681

344

213

1,299

At 31 January 2024

-

3,425

6,598

7,818

3,520

21,361

Carrying amount

At 31 January 2024

517

182

2,044

1,029

639

4,411

At 31 January 2023

517

243

1,673

1,373

852

4,658

Included within the net book value of land and buildings above is £517 (2023 - £517) in respect of freehold land and buildings.
 

 

Max Adventure Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,054