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REGISTERED NUMBER: 11646157 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

1MAFX Limited

1MAFX Limited (Registered number: 11646157)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1MAFX Limited

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: P Margacz





REGISTERED OFFICE: The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 11646157 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

1MAFX Limited (Registered number: 11646157)

Balance Sheet
31 OCTOBER 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,714 7,695

CURRENT ASSETS
Debtors 5 21,672 14,664
Cash at bank 19,644 16,382
41,316 31,046
CREDITORS
Amounts falling due within one year 6 17,527 15,749
NET CURRENT ASSETS 23,789 15,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,503

22,992

CREDITORS
Amounts falling due after more than one year 7 (21,242 ) -

PROVISIONS FOR LIABILITIES (7,926 ) (1,532 )
NET ASSETS 36,335 21,460

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,235 21,360
36,335 21,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

1MAFX Limited (Registered number: 11646157)

Balance Sheet - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2025 and were signed by:





P Margacz - Director


1MAFX Limited (Registered number: 11646157)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

1MAFX Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 3 years

1MAFX Limited (Registered number: 11646157)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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 a 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 creditors and loans from related companies 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


1MAFX Limited (Registered number: 11646157)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 2,005 - 12,024 14,029
Additions 865 39,990 359 41,214
At 31 October 2024 2,870 39,990 12,383 55,243
DEPRECIATION
At 1 November 2023 881 - 5,453 6,334
Charge for year 574 3,360 3,261 7,195
At 31 October 2024 1,455 3,360 8,714 13,529
NET BOOK VALUE
At 31 October 2024 1,415 36,630 3,669 41,714
At 31 October 2023 1,124 - 6,571 7,695


1MAFX Limited (Registered number: 11646157)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 8,249 7,651
Other debtors 13,423 7,013
21,672 14,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Hire purchase contracts 7,497 -
Taxation and social security 8,835 14,523
Other creditors 1,195 1,226
17,527 15,749

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Hire purchase contracts 21,242 -

Hire Purchase liabilities are secured against the asset to which they relate and fall due within 5 years.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
as restated
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 3,412 -
Amounts advanced 43,834 45,945
Amounts repaid (38,433 ) (42,533 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,813 3,412

9. RELATED PARTY DISCLOSURES

Director's loan balances are interest free and without fixed repayment terms.