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Registration number: 05651639

Maxvale Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Maxvale Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Maxvale Limited

Company Information

Directors

Salma Khodabaksh

Jan Khodabaksh

Registered office

56 Malford Grove
London
E18 2DY

Accountants

S.B.P. (Southport) Limited T/A SB Patel & Co
Chartered Certified Accountants
Tolsey House
1 Marshside Road
Churchtown
Southport
Merseyside
PR9 9TL

 

Maxvale Limited

(Registration number: 05651639)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

250,000

281,250

Tangible assets

5

1,945,808

1,905,602

 

2,195,808

2,186,852

Current assets

 

Stocks

6

400

400

Debtors

7

223,302

201,608

Cash at bank and in hand

 

233,143

49,689

 

456,845

251,697

Creditors: Amounts falling due within one year

8

(1,538,589)

(336,147)

Net current liabilities

 

(1,081,744)

(84,450)

Total assets less current liabilities

 

1,114,064

2,102,402

Creditors: Amounts falling due after more than one year

8

(98,599)

(1,143,088)

Net assets

 

1,015,465

959,314

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

568,383

568,383

Retained earnings

447,080

390,929

Shareholders' funds

 

1,015,465

959,314

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Maxvale Limited

(Registration number: 05651639)
Statement of Financial Position as at 31 December 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 19 August 2025 and signed on its behalf by:
 

.........................................
Salma Khodabaksh
Director

 

Maxvale Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
56 Malford Grove
London
E18 2DY
England

These financial statements were authorised for issue by the Board on 19 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Maxvale Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Maxvale Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Maxvale Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 94 (2023 - 78).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

625,000

625,000

At 31 December 2024

625,000

625,000

Amortisation

At 1 January 2024

343,750

343,750

Amortisation charge

31,250

31,250

At 31 December 2024

375,000

375,000

Carrying amount

At 31 December 2024

250,000

250,000

At 31 December 2023

281,250

281,250

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

1,963,328

841,949

19,925

2,825,202

Additions

8,000

150,070

-

158,070

At 31 December 2024

1,971,328

992,019

19,925

2,983,272

Depreciation

At 1 January 2024

299,843

615,772

3,985

919,600

Charge for the year

39,427

75,249

3,188

117,864

At 31 December 2024

339,270

691,021

7,173

1,037,464

Carrying amount

At 31 December 2024

1,632,058

300,998

12,752

1,945,808

At 31 December 2023

1,663,485

226,177

15,940

1,905,602

 

Maxvale Limited

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

6

Stocks

2024
£

2023
£

Other inventories

400

400

7

Debtors

Current

2024
£

2023
£

Prepayments

3,193

1,902

Other debtors

220,109

199,706

 

223,302

201,608

 

Maxvale Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,204,244

71,250

Taxation and social security

 

190,142

142,927

Accruals and deferred income

 

268

2,429

Other creditors

 

143,935

119,541

 

1,538,589

336,147

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

98,599

1,143,088

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

90,850

1,132,018

Hire purchase contracts

7,749

11,070

98,599

1,143,088

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,200,923

67,929

Hire purchase contracts

3,321

3,321

1,204,244

71,250