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MAXWELL ASSOCIATES LIMITED

Registered Number
SC379036
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

MAXWELL ASSOCIATES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

MAXWELL, Susan Phyllis

Registered Address

36 Fonthill Road
Aberdeen
AB11 6UJ

Registered Number

SC379036 (Scotland)
MAXWELL ASSOCIATES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,539,9001,539,900
Investments411
1,539,9011,539,901
Current assets
Debtors722,115683,137
Cash at bank and on hand6,88211,644
728,997694,781
Creditors amounts falling due within one year5(1,534,933)(1,314,886)
Net current assets (liabilities)(805,936)(620,105)
Total assets less current liabilities733,965919,796
Creditors amounts falling due after one year6(105,869)(366,320)
Net assets628,096553,476
Capital and reserves
Called up share capital11
Profit and loss account628,095553,475
Shareholders' funds628,096553,476
The financial statements were approved and authorised for issue by the Director on 26 November 2024, and are signed on its behalf by:
MAXWELL, Susan Phyllis
Director
Registered Company No. SC379036
MAXWELL ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 April 231,539,9001,539,900
At 31 March 241,539,9001,539,900
Net book value
At 31 March 241,539,9001,539,900
At 31 March 231,539,9001,539,900
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 2311
At 31 March 2411
Net book value
At 31 March 2411
At 31 March 2311

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts59,86859,868
Taxation and social security21,80223,000
Other creditors1,451,9601,230,152
Accrued liabilities and deferred income1,3031,866
Total1,534,9331,314,886
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts105,869366,320
Total105,869366,320