REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
16 FEBRUARY 2023 TO 31 MARCH 2024 |
FOR |
MAXKOLD HOLDINGS LTD |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
16 FEBRUARY 2023 TO 31 MARCH 2024 |
FOR |
MAXKOLD HOLDINGS LTD |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MAXKOLD HOLDINGS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 16 FEBRUARY 2023 TO 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
5AS |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
ABRIDGED BALANCE SHEET |
31 MARCH 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Maxkold Holdings Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable. |
Investment property |
Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. At the end of each period, the carrying value is adjusted to the fair value at that date. Fair value is determined by consideration of comparable market data such as rental yields, location, condition and nature of the property. The gains and losses are taken to profit and loss at the end of each period. Deferred tax will be recognised in respect to any gains, and the amount included in profit and loss will be net of any deferred tax provision. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 FEBRUARY 2023 TO 31 MARCH 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
The historical cost of the investment property is £5,083,137. |
At the balance sheet date, the directors consider this amount to be a fair value representation of the market value. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
£ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Repayable by instalments |
Bank loans more 5 yr by instal | 475,000 |
7. | LOANS |
An analysis of the maturity of loans is given below: |
£ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst | 800,000 |
MAXKOLD HOLDINGS LTD (REGISTERED NUMBER: 14668335) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 FEBRUARY 2023 TO 31 MARCH 2024 |
7. | LOANS - continued |
£ |
Repayable by instalments |
Bank loans more 5 yr by instal | 475,000 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The legal fixed and floating charge on the company's investment property is in favour of Handelsbanken Plc. |
The company's loan from Handelsbanken Plc is secured by the corporate guarantees provided by the company's two shareholders, Maxkold Ltd and A.F.Reginiano Limited. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 2,000 |
10. | ULTIMATE CONTROLLING PARTY |
Due to the structure of the issued share capital, there is no overall control of the company by any one party. |