Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01falseThe principal activity of the company is training and development.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04641440 2023-03-01 2024-02-29 04641440 2022-03-01 2023-02-28 04641440 2024-02-29 04641440 2023-02-28 04641440 c:Director1 2023-03-01 2024-02-29 04641440 d:FurnitureFittings 2023-03-01 2024-02-29 04641440 d:FurnitureFittings 2024-02-29 04641440 d:FurnitureFittings 2023-02-28 04641440 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04641440 d:OfficeEquipment 2023-03-01 2024-02-29 04641440 d:OfficeEquipment 2024-02-29 04641440 d:OfficeEquipment 2023-02-28 04641440 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04641440 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04641440 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 04641440 d:Goodwill 2023-03-01 2024-02-29 04641440 d:Goodwill 2024-02-29 04641440 d:Goodwill 2023-02-28 04641440 d:CurrentFinancialInstruments 2024-02-29 04641440 d:CurrentFinancialInstruments 2023-02-28 04641440 d:Non-currentFinancialInstruments 2024-02-29 04641440 d:Non-currentFinancialInstruments 2023-02-28 04641440 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 04641440 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 04641440 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 04641440 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 04641440 d:ShareCapital 2024-02-29 04641440 d:ShareCapital 2023-02-28 04641440 d:RetainedEarningsAccumulatedLosses 2024-02-29 04641440 d:RetainedEarningsAccumulatedLosses 2023-02-28 04641440 c:OrdinaryShareClass1 2023-03-01 2024-02-29 04641440 c:OrdinaryShareClass1 2024-02-29 04641440 c:OrdinaryShareClass1 2023-02-28 04641440 c:OrdinaryShareClass2 2023-03-01 2024-02-29 04641440 c:OrdinaryShareClass2 2024-02-29 04641440 c:OrdinaryShareClass2 2023-02-28 04641440 c:OrdinaryShareClass3 2023-03-01 2024-02-29 04641440 c:OrdinaryShareClass3 2024-02-29 04641440 c:OrdinaryShareClass3 2023-02-28 04641440 c:OrdinaryShareClass4 2023-03-01 2024-02-29 04641440 c:OrdinaryShareClass4 2024-02-29 04641440 c:OrdinaryShareClass4 2023-02-28 04641440 c:FRS102 2023-03-01 2024-02-29 04641440 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04641440 c:FullAccounts 2023-03-01 2024-02-29 04641440 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04641440 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04641440










Maxima Training & Development Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 29 February 2024

 
Maxima Training & Development Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Maxima Training & Development Limited for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maxima Training & Development Limited for the year ended 29 February 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Maxima Training & Development Limited, as a body, in accordance with the terms of our engagement letter dated 25 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of Maxima Training & Development Limited and state those matters that we have agreed to state to the Board of Directors of Maxima Training & Development Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxima Training & Development Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Maxima Training & Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Maxima Training & Development Limited. You consider that Maxima Training & Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Maxima Training & Development 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
26 November 2024
Page 1

 
Maxima Training & Development Limited
Registered number: 04641440

Balance Sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,549
5,078

  
4,549
5,078

Current assets
  

Debtors: amounts falling due within one year
 6 
250,236
227,692

Cash at bank and in hand
  
19
4,875

  
250,255
232,567

Creditors: amounts falling due within one year
 7 
(215,110)
(180,652)

Net current assets
  
 
 
35,145
 
 
51,915

Total assets less current liabilities
  
39,694
56,993

Creditors: amounts falling due after more than one year
 8 
(37,435)
(43,326)

  

Net assets
  
2,259
13,667


Capital and reserves
  

Called up share capital 
 9 
1,300
1,300

Profit and loss account
  
959
12,367

  
2,259
13,667


Page 2

 
Maxima Training & Development Limited
Registered number: 04641440

Balance Sheet (continued)
As at 29 February 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S Y Pepper
Director
Date: 20 November 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

1.


General information

The company is a private company, limited by share capital, and incorporated in England, within the United Kingdom.
The address of its registered office is:
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
The principal place of business is:
Holly Oak House
Swallow Field Copse
Southwater Street
Southwater
West Sussex
RH13 9AZ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
 These financial statements are presented in sterling and are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to continue to trade is dependent upon the support of the directors, bankers and creditors. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

Page 4

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website development costs
-
5
years
Goodwill
-
20
years

The useful economic life of goodwill has been reviewed during the year ended 28 February 2019. The remaining four years is considered appropriate based on the future of income streams expected from customers in relation to which the goodwill initially arose.

Page 5

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and reducing balance methods shown below.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance and 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual meeting.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2). 

Page 7

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

4.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
104,000



At 29 February 2024

104,000



Amortisation


At 1 March 2023
104,000



At 29 February 2024

104,000



Net book value



At 29 February 2024
-



At 28 February 2023
-




5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
6,270
35,224
41,494


Disposals
-
(2,243)
(2,243)



At 29 February 2024

6,270
32,981
39,251



Depreciation


At 1 March 2023
5,434
30,982
36,416


Charge for the year on owned assets
125
404
529


Disposals
-
(2,243)
(2,243)



At 29 February 2024

5,559
29,143
34,702



Net book value



At 29 February 2024
711
3,838
4,549



At 28 February 2023
836
4,242
5,078

Page 8

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
60,380
73,408

Other debtors
188,916
153,344

Prepayments and accrued income
940
940

250,236
227,692



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
29,467
24,327

Bank loans
12,895
4,222

Trade creditors
58,044
44,626

Corporation tax
79,365
61,236

Other taxation and social security
8,912
27,245

Other creditors
18,328
10,156

Accruals and deferred income
8,099
8,840

215,110
180,652



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Other creditors
29,734
43,326

Other loans
7,701
-

37,435
43,326


Page 9

 
Maxima Training & Development Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

9.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary A shares of £1 each
1,000
1,000
100 (2023 - 100) Ordinary B shares of £1 each
100
100
100 (2023 - 100) Ordinary C shares of £1 each
100
100
100 (2023 - 100) Ordinary D shares of £1 each
100
100

1,300

1,300



10.


Transactions with directors

During the year the company continued to provide a loan to the directors. Interest is charged on this loan at the HMRC average official rate. At the balance sheet date the amount due from the directors was £143,434  (2023 - £116,838).


Page 10