IRIS Accounts Production v25.1.0.734 14496835 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Fair value model A Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh144968352023-12-31144968352024-12-31144968352024-01-012024-12-31144968352022-11-20144968352022-11-212023-12-31144968352023-12-3114496835ns15:EnglandWales2024-01-012024-12-3114496835ns14:PoundSterling2024-01-012024-12-3114496835ns10:Director12024-01-012024-12-3114496835ns10:Director22024-01-012024-12-3114496835ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3114496835ns10:SmallEntities2024-01-012024-12-3114496835ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3114496835ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3114496835ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3114496835ns10:FullAccounts2024-01-012024-12-3114496835ns10:OrdinaryShareClass22024-01-012024-12-3114496835ns10:OrdinaryShareClass32024-01-012024-12-3114496835ns10:OrdinaryShareClass42024-01-012024-12-3114496835ns10:OrdinaryShareClass52024-01-012024-12-3114496835ns5:CurrentFinancialInstruments2024-12-3114496835ns5:CurrentFinancialInstruments2023-12-3114496835ns5:ShareCapital2024-12-3114496835ns5:ShareCapital2023-12-3114496835ns5:RetainedEarningsAccumulatedLosses2024-12-3114496835ns5:RetainedEarningsAccumulatedLosses2023-12-3114496835ns10:RegisteredOffice2024-01-012024-12-3114496835ns5:PlantMachinery2024-01-012024-12-3114496835ns5:PlantMachinery2024-12-3114496835ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3114496835ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3114496835ns10:OrdinaryShareClass22024-12-3114496835ns10:OrdinaryShareClass32024-12-3114496835ns10:OrdinaryShareClass42024-12-3114496835ns10:OrdinaryShareClass52024-12-31
REGISTERED NUMBER: 14496835 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Maxia Developments Limited

Maxia Developments Limited (Registered number: 14496835)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Maxia Developments Limited (Registered number: 14496835)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,173 -
Investment property 5 3,784,214 3,784,214
3,788,387 3,784,214

CURRENT ASSETS
Debtors 6 22,950 2,907
Cash at bank 138,201 118,517
161,151 121,424
CREDITORS
Amounts falling due within one year 7 3,862,877 3,876,560
NET CURRENT LIABILITIES (3,701,726 ) (3,755,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

86,661

29,078

PROVISIONS FOR LIABILITIES 1,043 -
NET ASSETS 85,618 29,078

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 85,518 28,978
SHAREHOLDERS' FUNDS 85,618 29,078

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

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

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.

Maxia Developments Limited (Registered number: 14496835)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2025 and were signed on its behalf by:




G D Hanson - Director



D G Hanson - Director


Maxia Developments Limited (Registered number: 14496835)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Maxia Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14496835

Registered office: 16 Woodthorpe Park Drive
Wakefield
West Yorkshire
WF2 6HZ

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.

Turnover
Turnover represents rents receivable from tenants.

Rent received from the commercial and residential property is credited to the profit and loss account.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its expected useful life:

Computer equipment- 33% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any charge recognised in the profit and loss account.


Maxia Developments Limited (Registered number: 14496835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered)
using the tax rates and laws that have been enacted or substantively enacted by the balance sheet
date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing
differences are differences between the company's taxable profits and its results as stated in the
financial statements that arise from the inclusion of gains and losses in tax assessments in periods
different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the
basis of all available evidence, it can be regarded as more likely than not that there will be suitable
taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively
enacted by the balance sheet date and are expected to apply to the reversal of the timing difference. Deferred tax relating to investment property is measured using tax rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade creditors, other creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Maxia Developments Limited (Registered number: 14496835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Impairments of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each
balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that
occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Critical accounting judgements and sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make
judgements, estimates and assumptions about the carrying values of assets and liabilities that are
not readily apparent from other sources. The estimates and associated assumptions are based on
historical experience and other factors that are considered to be relevant. Actual results may differ
from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period of the revision and future periods if the revision affects both
current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Investment properties
The company makes an estimate of the fair value of investment properties at each reporting date. The directors undertake a review of the property portfolio at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

Maxia Developments Limited (Registered number: 14496835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 4,767
At 31 December 2024 4,767
DEPRECIATION
Charge for year 594
At 31 December 2024 594
NET BOOK VALUE
At 31 December 2024 4,173

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 3,784,214
NET BOOK VALUE
At 31 December 2024 3,784,214
At 31 December 2023 3,784,214

The directors undertake a review of the property portfolio at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair
values, management considers current commercial property trends and rental yields. The company makes an estimate of the fair value of investment properties at each reporting date.

The historical cost of the investment property is £3,784,214.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,800 -
Other debtors 150 2,907
22,950 2,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,808 848
Taxation and social security 28,363 8,631
Other creditors 3,831,706 3,867,081
3,862,877 3,876,560

Maxia Developments Limited (Registered number: 14496835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25 A Ordinary £1 25 25
25 B Ordinary £1 25 25
10 C Ordinary £1 10 10
10 D Ordinary £1 10 10
10 E Ordinary £1 10 10
10 F Ordinary £1 10 10
10 G Ordinary £1 10 10
100 100