Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-06-01No description of principal activity2false2false 09037814 2023-06-01 2024-05-31 09037814 2022-06-01 2023-05-31 09037814 2024-05-31 09037814 2023-05-31 09037814 c:Director1 2023-06-01 2024-05-31 09037814 d:CurrentFinancialInstruments 2024-05-31 09037814 d:CurrentFinancialInstruments 2023-05-31 09037814 d:Non-currentFinancialInstruments 2024-05-31 09037814 d:Non-currentFinancialInstruments 2023-05-31 09037814 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09037814 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09037814 d:ShareCapital 2024-05-31 09037814 d:ShareCapital 2023-05-31 09037814 d:RetainedEarningsAccumulatedLosses 2024-05-31 09037814 d:RetainedEarningsAccumulatedLosses 2023-05-31 09037814 c:FRS102 2023-06-01 2024-05-31 09037814 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09037814 c:FullAccounts 2023-06-01 2024-05-31 09037814 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09037814 d:WithinOneYear 2024-05-31 09037814 d:WithinOneYear 2023-05-31 09037814 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 09037814













MAXEL CAPITAL LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024


 
MAXEL CAPITAL LIMITED
REGISTERED NUMBER:09037814


BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
14,500
14,500

Current asset investments
 5 
16,014
16,014

Cash at bank and in hand
  
492
532

  
31,006
31,046

Creditors: amounts falling due within one year
 6 
(371,357)
(348,737)

Net current liabilities
  
 
 
(340,351)
 
 
(317,691)

  

Net liabilities
  
(340,351)
(317,691)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(341,351)
(318,691)

  
(340,351)
(317,691)


Page 1


 
MAXEL CAPITAL LIMITED
REGISTERED NUMBER:09037814

    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Michaelsen
Director

Date: 28 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


 
MAXEL CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Maxel Capital Limited is a limited liability company incorporated in England. The registered office and trading address is 63 High Street, Wimbledon, London, SW19 5EE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year the company has made a loss of £22,660 (2023: £21,969) and the company balance sheet at 31 May 2024 shows a deficit of £340,351 (2023: £317,691). However, this is supported by the director's loan account balance of £364,357 (see note 8). The directors have confirmed that repayment will not be sought unless the company has cash resources to do so. On this basis the directors believe that it is appropriate to prepare the accounts on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3


 
MAXEL CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4


 
MAXEL CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Debtors


Due after more than one year

Rental Deposit
14,500
14,500



5.


Current asset investments

2024
2023
£
£

Unlisted investments
16,014
16,014



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
4,500
2,400

Other creditors
364,357
343,837

Accruals and deferred income
2,500
2,500

371,357
348,737



7.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
7,250
7,250

Page 5


 
MAXEL CAPITAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Related party transactions

Material balances with related parties arising during the year were as follows:





2024
2022
        £
        £
Included in other creditors

P W Michaelsen

168,766

168,016

A Michaelsen

195,591

175,821


364,357

343,837


Nature of relationship and control
Philip Michaelsen and Allan Michaelsen are both directors and shareholders of the company. The loans are unsecured, interest free with no fixed terms for repayment.


9.


Controlling party

The company is controlled jointly by P W Michaelsen and A Michaelsen by virtue of their 50% shareholding each.

 
Page 6