12 01/12/2023 30/11/2024 2024-11-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-12-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC111004 2023-12-01 2024-11-30 SC111004 2024-11-30 SC111004 2023-11-30 SC111004 2022-12-01 2023-11-30 SC111004 2023-11-30 SC111004 2022-11-30 SC111004 core:IntangibleAssetsOtherThanGoodwill 2023-12-01 2024-11-30 SC111004 core:PlantMachinery 2023-12-01 2024-11-30 SC111004 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 SC111004 bus:Director3 2023-12-01 2024-11-30 SC111004 bus:Director1 2023-12-01 2024-11-30 SC111004 bus:Director4 2023-12-01 2024-11-30 SC111004 core:IntangibleAssetsOtherThanGoodwill 2023-11-30 SC111004 core:LandBuildings core:LongLeaseholdAssets 2023-11-30 SC111004 core:PlantMachinery 2023-11-30 SC111004 core:MotorVehicles 2023-11-30 SC111004 core:LandBuildings core:LongLeaseholdAssets 2024-11-30 SC111004 core:PlantMachinery 2024-11-30 SC111004 core:MotorVehicles 2024-11-30 SC111004 core:DeferredTaxation 2023-12-01 2024-11-30 SC111004 core:WithinOneYear 2024-11-30 SC111004 core:WithinOneYear 2023-11-30 SC111004 core:LandBuildings core:LongLeaseholdAssets 2023-12-01 2024-11-30 SC111004 core:MotorVehicles 2023-12-01 2024-11-30 SC111004 core:ShareCapital 2024-11-30 SC111004 core:ShareCapital 2023-11-30 SC111004 core:CapitalRedemptionReserve 2024-11-30 SC111004 core:CapitalRedemptionReserve 2023-11-30 SC111004 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC111004 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC111004 bus:OrdinaryShareClass1 core:ShareCapital 2024-11-30 SC111004 bus:OrdinaryShareClass1 core:ShareCapital 2023-11-30 SC111004 core:BetweenOneFiveYears 2024-11-30 SC111004 core:BetweenOneFiveYears 2023-11-30 SC111004 core:IntangibleAssetsOtherThanGoodwill 2023-11-30 SC111004 core:AcceleratedTaxDepreciationDeferredTax 2024-11-30 SC111004 core:AcceleratedTaxDepreciationDeferredTax 2023-11-30 SC111004 core:LandBuildings core:LongLeaseholdAssets 2023-11-30 SC111004 core:PlantMachinery 2023-11-30 SC111004 core:MotorVehicles 2023-11-30 SC111004 core:DeferredTaxation 2023-11-30 SC111004 core:DeferredTaxation 2024-11-30 SC111004 bus:Director1 2023-11-30 SC111004 bus:Director4 2024-11-30 SC111004 bus:Director1 2022-11-30 SC111004 bus:Director1 2023-11-30 SC111004 bus:Director1 2022-12-01 2023-11-30 SC111004 bus:SmallEntities 2023-12-01 2024-11-30 SC111004 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC111004 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC111004 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC111004 bus:FullAccounts 2023-12-01 2024-11-30
Company registration number: SC111004
Maximillion Events Ltd
Unaudited filleted financial statements
30 November 2024
Maximillion Events Ltd
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - 3,721
Tangible assets 6 192,492 84,452
_______ _______
192,492 88,173
Current assets
Debtors 7 6,127,568 670,259
Cash at bank and in hand 3,117,908 1,725,076
_______ _______
9,245,476 2,395,335
Creditors: amounts falling due
within one year 8 ( 8,727,939) ( 1,699,873)
_______ _______
Net current assets 517,537 695,462
_______ _______
Total assets less current liabilities 710,029 783,635
Provisions for liabilities 9 ( 20,466) ( 16,520)
_______ _______
Net assets 689,563 767,115
_______ _______
Capital and reserves
Called up share capital 11 79,512 79,512
Capital redemption reserve 9,988 9,988
Profit and loss account 600,063 677,615
_______ _______
Shareholders funds 689,563 767,115
_______ _______
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 June 2025 , and are signed on behalf of the board by:
S.R. Esslemont
Director
Company registration number: SC111004
Maximillion Events Ltd
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Newbridge Industrial Estate, Unit 2A, Newbridge, EH28 8PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development - 20 % reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - Straight line over the life of the lease
Plant and machinery - 20 % reducing balance
Motor vehicles - 15 - 20% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 9 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 December 2023 45,000 45,000
Disposals (45,000) (45,000)
_______ _______
At 30 November 2024 - -
_______ _______
Amortisation
At 1 December 2023 41,278 41,278
Charge for the year 744 744
Disposals ( 42,022) ( 42,022)
_______ _______
At 30 November 2024 - -
_______ _______
Carrying amount
At 30 November 2024 - -
_______ _______
At 30 November 2023 3,722 3,722
_______ _______
6. Tangible assets
Long leasehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 133,201 270,885 31,922 436,008
Additions - 21,970 113,851 135,821
Disposals ( 98,301) ( 240,912) - ( 339,213)
_______ _______ _______ _______
At 30 November 2024 34,900 51,943 145,773 232,616
_______ _______ _______ _______
Depreciation
At 1 December 2023 109,574 240,384 1,596 351,554
Charge for the year - 8,145 14,948 23,093
Disposals ( 97,781) ( 236,742) - ( 334,523)
_______ _______ _______ _______
At 30 November 2024 11,793 11,787 16,544 40,124
_______ _______ _______ _______
Carrying amount
At 30 November 2024 23,107 40,156 129,229 192,492
_______ _______ _______ _______
At 30 November 2023 23,627 30,501 30,326 84,454
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 111,230 203,944
Other debtors 6,016,338 466,315
_______ _______
6,127,568 670,259
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 902,609 305,338
Corporation tax - 214,651
Social security and other taxes 116,443 166,807
Other creditors 7,708,887 1,013,077
_______ _______
8,727,939 1,699,873
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 December 2023 16,520 16,520
Additions 3,946 3,946
_______ _______
At 30 November 2024 20,466 20,466
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 9) 20,466 16,520
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 20,466 16,520
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each 79,512 79,512 79,512 79,512
_______ _______ _______ _______
12. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 109,200 147,162
_______ _______
13. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
J.L. Strachan 469 - ( 469) -
R. Gardiner - 5,125 - 5,125
_______ _______ _______ _______
469 5,125 ( 469) 5,125
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
J.L. Strachan 40,339 - ( 39,870) 469
R. Gardiner - - - -
_______ _______ _______ _______
These loans are interest free and repayable on demand.