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REGISTERED NUMBER: 10596869 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Maximise My Business Ltd

Maximise My Business Ltd (Registered number: 10596869)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maximise My Business Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs M L Lynch
M T Lynch





REGISTERED OFFICE: Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW





REGISTERED NUMBER: 10596869 (England and Wales)





ACCOUNTANTS: Willsons
Chartered Accountants
Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW

Maximise My Business Ltd (Registered number: 10596869)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,791 3,609

CURRENT ASSETS
Stocks 28,430 31,599
Debtors 5 46,321 45,474
Cash at bank and in hand 354,563 325,941
429,314 403,014
CREDITORS
Amounts falling due within one year 6 261,551 228,842
NET CURRENT ASSETS 167,763 174,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,554

177,781

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 178,454 177,681
178,554 177,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Maximise My Business Ltd (Registered number: 10596869)

Balance Sheet - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mrs M L Lynch - Director


Maximise My Business Ltd (Registered number: 10596869)

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

1. STATUTORY INFORMATION

Maximise My Business Ltd 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 the total invoice value, excluding value added tax, of sales made during the period.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. The turnover is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Pensions
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

Maximise My Business Ltd (Registered number: 10596869)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023 40,953
Additions 13,809
Disposals (400 )
At 29 February 2024 54,362
DEPRECIATION
At 1 March 2023 37,344
Charge for year 6,227
At 29 February 2024 43,571
NET BOOK VALUE
At 29 February 2024 10,791
At 28 February 2023 3,609

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 5,550
Other debtors 46,321 39,924
46,321 45,474

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 18,785 18,441
Corporation Tax 21,569 21,263
Social security and other taxes 3,323 3,906
Pension 822 850
VAT 61,137 59,775
Other creditors 108,638 112,928
Directors' current accounts 33,782 2,650
Accrued expenses 13,495 9,029
261,551 228,842

Maximise My Business Ltd (Registered number: 10596869)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 66,917 66,000
Between one and five years 173,964 98,040
240,881 164,040

8. RELATED PARTY DISCLOSURES

At the balance sheet date, an interest free loan of £105,000 (2023 £105,000) had been provided from a company which Mrs Lynch had a 50% shareholding in. There is no set date by which this loan has to be repaid.