R Maxwell & Sons Ltd 14584266 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is letting of investment property Digita Accounts Production Advanced 6.30.9574.0 true true 14584266 2023-08-01 2024-07-31 14584266 2024-07-31 14584266 core:RetainedEarningsAccumulatedLosses 2024-07-31 14584266 core:ShareCapital 2024-07-31 14584266 core:SharePremium 2024-07-31 14584266 core:CurrentFinancialInstruments 2024-07-31 14584266 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 14584266 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 14584266 core:FurnitureFittingsToolsEquipment 2024-07-31 14584266 bus:SmallEntities 2023-08-01 2024-07-31 14584266 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14584266 bus:FullAccounts 2023-08-01 2024-07-31 14584266 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 14584266 bus:RegisteredOffice 2023-08-01 2024-07-31 14584266 bus:Director1 2023-08-01 2024-07-31 14584266 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14584266 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 14584266 core:PlantMachinery 2023-08-01 2024-07-31 14584266 countries:EnglandWales 2023-08-01 2024-07-31 14584266 2022-08-01 2023-07-31 14584266 2023-07-31 14584266 core:RetainedEarningsAccumulatedLosses 2023-07-31 14584266 core:ShareCapital 2023-07-31 14584266 core:SharePremium 2023-07-31 14584266 core:CurrentFinancialInstruments 2023-07-31 14584266 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14584266 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14584266

R Maxwell & Sons Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

R Maxwell & Sons Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

R Maxwell & Sons Ltd

(Registration number: 14584266)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

274

-

Investment property

5

935,400

-

 

935,674

-

Current assets

 

Debtors

6

135

-

Cash at bank and in hand

 

20,572

4

 

20,707

4

Creditors: Amounts falling due within one year

7

(28,479)

-

Net current (liabilities)/assets

 

(7,772)

4

Total assets less current liabilities

 

927,902

4

Creditors: Amounts falling due after more than one year

7

(525,170)

-

Provisions for liabilities

(69)

-

Net assets

 

402,663

4

Capital and reserves

 

Called up share capital

8

102

4

Share premium reserve

406,221

-

Profit and loss account

(3,660)

-

Shareholders' funds

 

402,663

4

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

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 



 

Mr R E Maxwell
Director

 

R Maxwell & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
7 Angelica Way
Thornhill
Cardiff
CF14 9FJ

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

Going concern

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

Revenue recognition

Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

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.

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

R Maxwell & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% straight line

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

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.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

4

Tangible assets

Plant and equipment
 £

Total
£

Cost

Additions

365

365

At 31 July 2024

365

365

Depreciation

Charge for the year

91

91

At 31 July 2024

91

91

Net book value

At 31 July 2024

274

274

 

R Maxwell & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Investment property

2024
£

Additions

935,400

At 31 July

935,400

The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.

6

Debtors

2024
£

Prepayments

135

135

7

Creditors

Creditors: amounts falling due within one year

2024
£

Taxation and social security

446

Other creditors

539

Other loans

23,111

Accruals

4,383

28,479

Creditors: amounts falling due after more than one year

2024
£

Bank loans

525,170

525,170

Creditors include bank loans which are secured against the properties they relate to in the sum of £525,170. Of this amount £177,326 is repayable after more than five years, other than by instalments.

 

R Maxwell & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024


 2023

 

No.

£

No.

£

Class A of £0.01 each

9,939

99.39

100

1.00

Class B of £0.01 each

100

1.00

100

1.00

Class C of £0.01 each

100

1.00

100

1.00

Class D of £0.01 each

100

1.00

100

1.00

 

10,239

102.39

400

4.00

9

Related party transactions

Other related party transactions

The company has purchased an investment property business from the directors on 1 August 2023 at market value via a sale and purchase agreement.