Maxfield Ventures Limited
Registered number: 04398491
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Financial assets 5,611 5,611
Current assets
Debtors 3 7,312 7,642
Cash at bank and in hand 301 653
7,613 8,295
Creditors: amounts falling due within one year 4 (9,690) (9,631)
Net current liabilities (2,077) (1,336)
Net assets 3,534 4,275
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,532 4,273
Shareholder's funds 3,534 4,275
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Manouella Sokratous
Director
Approved by the board on 25 March 2025
Maxfield Ventures Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of nominee services. Turnover from the rendering of nominee 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value/Impairment losses are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors 7,300 7,642
Other debtors 12 -
7,312 7,642
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 1,940
Other creditors 9,690 7,691
9,690 9,631
5 Other information
Maxfield Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor
207 Regent Street
London
W1B 3HH
Maxfield Ventures Limited 04398491 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Manouella Sokratous No description of principal activity 04398491 2022-04-01 2023-03-31 04398491 core:WithinOneYear 2023-03-31 04398491 core:ShareCapital 2023-03-31 04398491 core:RetainedEarningsAccumulatedLosses 2023-03-31 04398491 2023-04-01 2024-03-31 04398491 bus:EntityNoLongerTradingButTradedInPast 2023-04-01 2024-03-31 04398491 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04398491 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04398491 bus:Director40 2023-04-01 2024-03-31 04398491 1 2023-04-01 2024-03-31 04398491 2 2023-04-01 2024-03-31 04398491 countries:England 2023-04-01 2024-03-31 04398491 bus:FRS102 2023-04-01 2024-03-31 04398491 bus:FilletedAccounts 2023-04-01 2024-03-31 04398491 2024-03-31 04398491 core:WithinOneYear 2024-03-31 04398491 core:ShareCapital 2024-03-31 04398491 core:RetainedEarningsAccumulatedLosses 2024-03-31 04398491 2023-03-31 iso4217:GBP xbrli:pure