Company registration number 03625904 (England and Wales)
Max UK Limited
Audited Financial Statements
For the year ended
31 March 2025
Pages for filing with registrar
Max UK Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Max UK Limited
Statement Of Financial Position
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
5
48,353
42,114
Cash at bank and in hand
7,329
59,956
55,682
102,070
Creditors: amounts falling due within one year
6
(25,462)
(19,903)
Net current assets
30,220
82,167
Capital and reserves
Called up share capital
7
299,742
299,742
Profit and loss reserves
(269,522)
(217,575)
Total equity
30,220
82,167
The notes on pages 2 to 5 form part of these financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 28 April 2025
L. Binge
Director
Company registration number 03625904 (England and Wales)
Max UK Limited
Notes To The Financial Statements
For the year ended 31 March 2025
- 2 -
1
General information
Max UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.
2
Accounting policies
2.1
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”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Max India Limited. These consolidated financial statements are available from its registered office,167 Floor - 1, Plot 167 Ready Money Terrace, Dr Annie Besant Road, Worli, Mumbai 400018, India.
2.2
Going concern
From 1 April 2025 the company ceased providing services to other group companies. The director is currently considering the future plans for the company but considers there are adequate resources for the company to meet all third party liabilities arising for a period of at least twelve months from the date of signing of the financial statements. trueThus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3
Turnover
Turnover shown in the profit and loss account represents amounts receivable from the reimbursement of expenses incurred during the year, exclusive of value added tax.
Max UK Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2025
2
Accounting policies
(Continued)
- 3 -
2.4
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
2.5
Taxation
The tax expense represents the sum of the tax currently payable. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
2.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Management staff
2
2
Max UK Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2025
- 4 -
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
5,050
5,000
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,521
Other debtors
2,196
1,093
Prepayments and accrued income
40,636
41,021
48,353
42,114
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,526
4,881
Corporation tax
1,269
913
Other taxation and social security
1,981
2,774
Other creditors
7,835
723
Accruals and deferred income
7,851
10,612
25,462
19,903
7
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
299,742
299,742
299,742
299,742
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Max UK Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2025
8
Audit report information
(Continued)
- 5 -
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Rebecca White BSc FCA
Statutory Auditor:
Riches & Company
Date of audit report:
28 April 2025
9
Related party transactions
The company has taken advantage of the exemption contained in FRS 102 paragraph 33.1A and has therefore not disclosed transactions or balances with the parent or wholly owned subsidiaries which form part of a group.
At the balance sheet date the company owed £7,558 (2024 - £58) to a key member of management personnel of the company's parent undertaking. This amount is unsecured, interest free and repayable on demand.
10
Ultimate controlling party
The parent company and ultimate controlling party is Max India Limited, incorporated in India and listed on The Bombay Stock Exchange and The Stock Exchange of India.
The parent of the largest and smallest group for which consolidated accounts including Max UK Limited are drawn up is Max India Limited, copies of which can be obtained from its registered office at 167 Floor - 1, Plot 167 Ready Money Terrace, Dr Annie Besant Road, Worli, Mumbai 400018, India.