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REGISTERED NUMBER: 11374661 (England and Wales)















Maxright Limited

Financial Statements

for the Year Ended 31 May 2024






Maxright Limited (Registered number: 11374661)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Maxright Limited

Company Information
for the year ended 31 May 2024







Director: I M Ewart





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 11374661 (England and Wales)






Maxright Limited (Registered number: 11374661)

Balance Sheet
31 May 2024

2024 2023
Notes £ £
Current assets
Debtors 4 15,279 17,297
Cash at bank 10,221 2,313
25,500 19,610
Creditors
Amounts falling due within one year 5 19,287 10,116
Net current assets 6,213 9,494
Total assets less current liabilities 6,213 9,494

Capital and reserves
Called up share capital 6 2 2
Retained earnings 6,211 9,492
Shareholders' funds 6,213 9,494

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2024 and were signed by:





I M Ewart - Director


Maxright Limited (Registered number: 11374661)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Maxright Limited 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.

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.

Turnover
Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going concern basis of accounting in preparing these financial statements

Maxright Limited (Registered number: 11374661)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets / liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

3. Employees and directors

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

4. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors - 2,400
Other debtors 10,000 -
Directors' loan accounts 5,279 14,895
Called up share capital not paid - 2
15,279 17,297

Maxright Limited (Registered number: 11374661)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


5. Creditors: amounts falling due within one year
2024 2023
£ £
Tax 11,959 1,903
VAT 5,528 6,513
Accrued expenses 1,800 1,700
19,287 10,116

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2

7. Ultimate controlling party

The controlling party is I M Ewart.