Limited Liability Partnership registration number OC340300 (England and Wales)
MAXIMA LITIGATION FUNDING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MAXIMA LITIGATION FUNDING LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr M J Andrews
Mrs V M Andrews
Maxima Litigation Finance Limited
LLP registration number
OC340300
Registered office
Kingsnorth House
Blenheim Way
Kingstanding
Birmingham
West Midlands
United Kingdom
B44 8LS
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
MAXIMA LITIGATION FUNDING LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
MAXIMA LITIGATION FUNDING LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MAXIMA LITIGATION FUNDING LLP FOR THE PERIOD ENDED 31 MARCH 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maxima Litigation Funding LLP for the period ended 31 March 2025 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the limited liability partnership's members of Maxima Litigation Funding LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maxima Litigation Funding LLP and state those matters that we have agreed to state to the limited liability partnership's members of Maxima Litigation Funding LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxima Litigation Funding LLP and its members as a body, for our work or for this report.

It is your duty to ensure that Maxima Litigation Funding LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Maxima Litigation Funding LLP. You consider that Maxima Litigation Funding LLP is exempt from the statutory audit requirement for the period.

The members have not required the company to obtain an audit or a review of the financial statements of Maxima Litigation Funding LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
B44 8LS
United Kingdom
20 June 2025
MAXIMA LITIGATION FUNDING LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
31 March 2025
30 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
54
71
Current assets
Debtors
35,535
33,804
Cash at bank and in hand
-
239
35,535
34,043
Creditors: amounts falling due within one year
(5,826)
(7,556)
Net current assets
29,709
26,487
Total assets less current liabilities and net assets attributable to members
29,763
26,558
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
27,839
23,032
Other amounts
1,774
3,376
29,613
26,408
Members' other interests
Members' capital classified as equity
150
150
29,763
26,558
Total members' interests
Amounts due from members
(1,774)
(3,376)
Loans and other debts due to members
29,613
26,408
Members' other interests
150
150
27,989
23,182
MAXIMA LITIGATION FUNDING LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

For the financial period ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for:

(a) ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements. so far as applicable to the LLP.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

In accordance with section 444 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008, all of the members of the limited liability partnership have consented to the abridgement of the financial statements pursuant to paragraph 1A of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations (SI 2008/1912)(a).

The financial statements were approved by the members and authorised for issue on 20 June 2025 and are signed on their behalf by:
20 June 2025
Mr M J Andrews
Mrs V M Andrews
Designated member
Designated Member
Limited Liability Partnership registration number OC340300 (England and Wales)
MAXIMA LITIGATION FUNDING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Limited liability partnership information

Maxima Litigation Funding LLP is a limited liability partnership incorporated in England and Wales. The LLP's registered number and registered office address can be found on the General Information Page.

 

The presentation currency of the financial statements is the Pound Sterling (£).

1.1
Reporting period

The company is preparing financial statements for a 18 month period to 31 March 2025. The financial statements are therefore not entirely comparable with the financial statements prepared for the comparative twelve month period. The reason for the change is to bring the year end in line with the tax year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost conversion.

1.3
Turnover

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

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
1.5
Financial instruments
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

MAXIMA LITIGATION FUNDING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.6

Allocation of profit and drawings

The allocation of profits to members occurs only upon approval of the annual financial statements.

 

During the year members are permitted to make drawings, and from time to time, additional payments in anticipation of profits which will be allocated to them. The level and timing of the drawings is decided by the members, taking into account the partnership's cash requirements for operating and investing activities. Both the monthly and other drawings represent payments on account of current year profits. Any over-distribution of profits during the year is recoverable from members.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2025
2023
Number
Number
Total
-
0
-
0
3
Information in relation to members
2025
2023
Number
Number
Average number of members during the period
3
3
MAXIMA LITIGATION FUNDING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Total
£
Cost
At 1 October 2023 and 31 March 2025
6,922
Depreciation and impairment
At 1 October 2023
6,851
Depreciation charged in the period
17
At 31 March 2025
6,868
Carrying amount
At 31 March 2025
54
At 30 September 2023
71
5
Loans and other debts due to members
2025
2023
£
£
Analysis of loans
Amounts falling due within one year
29,613
26,408
29,613
26,408

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

6
Related party transactions

Maxima litigation Solutions Limited

A company of which Mrs V M Andrews is a director and shareholder.

 

The amount owed by Maxima Litigation Solutions Limited at 31 March 2025 and included within other debtors amounts to £8,428 (30 September 2023 - £8,428) is unsecured and has no specific terms regarding payment of interest. The amount owed is repayable on demand.

 

Maxima Litigation Finance Limited

A company of which M J Andrews and Mrs V M Andrews are both directors and shareholders.

 

During the period Maxima Litigation Funding LLP received management charges of £5,525 (30 September 2023 - £1,800). During the year Maxima Litigation Finance Limited made payments on behalf of Maxima Litigation Funding LLP of £NIL (2023 - £Nil). The amount owed by Maxima Litigation Finance Limited at 31 March 2025 and included within other debtors amounts to £3,333 (amounts owed to Maxima Litigation Finance Limited at 30 September 2023 - £2,430) is unsecured and has no specific terms regarding payment of interest. The amount owed is repayable on demand.

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