Company Registration No. 13750004 (England and Wales)
Maxwell Financial Limited
Unaudited accounts
for the year ended 30 November 2023
Maxwell Financial Limited
Unaudited accounts
Contents
Maxwell Financial Limited
Company Information
for the year ended 30 November 2023
Director
Darani Ganesharajah
Company Number
13750004 (England and Wales)
Registered Office
77A Richmond Road
Twickenham
Middlesex
TW1 3AW
England
Accountants
P10 Accountancy Ltd
77A Richmond Road
Twickenham
TW1 3AW
Maxwell Financial Limited
Statement of financial position
as at 30 November 2023
Tangible assets
5,248
7,873
Cash at bank and in hand
584
404
Creditors: amounts falling due within one year
(25,017)
(13,547)
Net current liabilities
(4,685)
(6,873)
Called up share capital
100
100
Profit and loss account
463
900
Shareholders' funds
563
1,000
For the year ending 30 November 2023 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 January 2025 and were signed on its behalf by
Darani Ganesharajah
Director
Company Registration No. 13750004
Maxwell Financial Limited
Notes to the Accounts
for the year ended 30 November 2023
Maxwell Financial Limited is a private company, limited by shares, registered in England and Wales, registration number 13750004. The registered office is 77A Richmond Road, Twickenham, Middlesex, TW1 3AW, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Maxwell Financial Limited
Notes to the Accounts
for the year ended 30 November 2023
The accounts are presented in £ sterling.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
8,000
2,498
10,498
At 30 November 2023
8,000
2,498
10,498
At 1 December 2022
2,000
625
2,625
Charge for the year
2,000
625
2,625
At 30 November 2023
4,000
1,250
5,250
At 30 November 2023
4,000
1,248
5,248
At 30 November 2022
6,000
1,873
7,873
Amounts falling due within one year
Accrued income and prepayments
14,756
-
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,726
656
Other creditors
12,291
12,291
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Average number of employees
During the year the average number of employees was 1 (2022: 1).