VEXMAX VENTURES LIMITED

Company Registration Number:
13661073 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 November 2022

End date: 30 April 2024

VEXMAX VENTURES LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

VEXMAX VENTURES LIMITED

Balance sheet

As at 30 April 2024


Notes

18 months to 30 April 2024

13 months to 31 October 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Investments: 3 2,215,451 0
Total fixed assets: 2,215,451 0
Current assets
Debtors: 4 131,355 1
Cash at bank and in hand: 29,631 0
Total current assets: 160,986 1
Creditors: amounts falling due within one year: 5 (2,262,410) 0
Net current assets (liabilities): (2,101,424) 1
Total assets less current liabilities: 114,027 1
Total net assets (liabilities): 114,027 1
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 114,026 0
Shareholders funds: 114,027 1

The notes form part of these financial statements

VEXMAX VENTURES LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 January 2025
and signed on behalf of the board by:

Name: Paul William Hodge
Status: Director

The notes form part of these financial statements

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is represented by rental income. This income is recognised at the fair value of consideration received in the normal course of business and is charged to profit or loss on equal instalments over the period of the lease.

Other accounting policies

Investment properties Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Fixed asset investments Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Cash and cash equivalents Cash and cash equivalents are basic financial instruments and include cash in hand. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Equity instruments Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Taxation The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity. Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously. Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting period. Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits. For non-depreciable assets measured using the revaluation model and investment properties measured at fair value (except investment property with a limited useful life held by the company to consume substantially all of its economic benefit), deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

18 months to 30 April 2024 13 months to 31 October 2022
Average number of employees during the period 0 0

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Fixed investments

Fair value at 30 April 2024 £2,215,451 (at 31 October 2022 £Nil). All investment properties were valued by the director at 30 April 2024 based on reference to appropriate indexes and other market information. If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as £2,215,451 (at 31 October 2022 £Nil).

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

18 months to 30 April 2024 13 months to 31 October 2022
££
Debtors due after more than one year: 131,355 0

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

Trade Creditors £772 (2022 £Nil). Trade Debtors £9,917 (2022 £Nil). Corporation Tax £38,274 (2022 £Nil). Other Creditors £2,213,447 (2022 £Nil). Total £2,262,410 (2022 £Nil).

VEXMAX VENTURES LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Financial commitments

At the reporting end date the company had contracted with tenants for minimum lease payments within one year of £182,829, between one and five years £178,400 and in over five years £314,800.