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MAXPRONE2 LIMITED

Registered Number
11972419
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

MAXPRONE2 LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

DIXON, Angela
DIXON, Mark Robert

Registered Address

33 Main Street
Lowick
Berwick-Upon-Tweed
TD15 2UD

Registered Number

11972419 (England and Wales)
MAXPRONE2 LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4518,852444,085
518,852444,085
Current assets
Debtors532,89129,052
Cash at bank and on hand181,65490,299
214,545119,351
Creditors amounts falling due within one year6(150,716)(86,832)
Net current assets (liabilities)63,82932,519
Total assets less current liabilities582,681476,604
Creditors amounts falling due after one year7(80,411)(97,070)
Provisions for liabilities9(21,310)(21,220)
Net assets480,960358,314
Capital and reserves
Called up share capital22
Profit and loss account480,958358,312
Shareholders' funds480,960358,314
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
DIXON, Angela
Director
DIXON, Mark Robert
Director

Registered Company No. 11972419
MAXPRONE2 LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Straight line (years)
Fixtures and fittings5
Vehicles5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 July 23338,248100,93513,799452,982
Additions95,365-2,56597,930
Disposals--(820)(820)
At 30 June 24433,613100,93515,544550,092
Depreciation and impairment
At 01 July 23-1,6827,2158,897
Charge for year-20,1872,97623,163
On disposals--(820)(820)
At 30 June 24-21,8699,37131,240
Net book value
At 30 June 24433,61379,0666,173518,852
At 30 June 23338,24899,2536,584444,085
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables30,07228,347
Other debtors73-
Prepayments and accrued income2,746705
Total32,89129,052
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6131
Bank borrowings and overdrafts10,00010,800
Amounts owed to related parties1,588835
Taxation and social security122,74351,329
Finance lease and HP contracts15,04822,638
Accrued liabilities and deferred income1,2761,199
Total150,71686,832
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,66720,867
Other creditors68,74476,203
Total80,41197,070
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts68,74476,203
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,31021,220
Total21,31021,220