Company No:
Contents
| DIRECTORS | E Hoffer |
| L Max |
| REGISTERED OFFICE | 22 Chancery Lane |
| London | |
| WC2A 1LS | |
| United Kingdom |
| COMPANY NUMBER | 05522961 (England and Wales) |
| AUDITOR | Dixon Wilson Audit Services LLP |
| Statutory Auditor | |
| 22 Chancery Lane | |
| London | |
| WC2A 1LS | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 255,477 | 208,306 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (33,930,558) | (33,317,225) | ||
| Total assets less current liabilities | (33,930,558) | (33,317,225) | ||
| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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The financial statements of Max Studio (UK) Limited (registered number:
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E Hoffer
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Max Studio (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company is reliant on the financial support of its parent company to continue to operate as a going concern. Based on assurances received from the parent company, the directors are satisfied that further financial support will be made available to the company for a period of at least one year from the date of approval of these financial statements and therefore the financial statements have been prepared on a going concern basis.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Provision is made for deferred tax liabilities in respect of temporary timing differences arising from the different treatment of items for the accounts and taxation, without discounting. Deferred tax assets are recognised to the extent to which they are recoverable on the balance of probabilities.
Rental costs under operating leases are charged to the profit and loss account in equal annual amounts over the period of the leases. Should an operating lease be defined as onerous, unavoidable costs are recognised in the Profit and Loss account.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities, or equity instruments.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| £ | £ | ||
| Other debtors |
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| £ | £ | ||
| Amounts owed to parent undertakings |
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| Amounts owed to directors |
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| Accruals |
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| Other taxation and social security |
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| Other creditors |
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Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Loan (from)/to Director (L Max) | (4,521) | 18,551 |
During the year, Max Studio (UK) Limited advanced £108,562 (2023 - £20,334) to Leon Max, a director of the company. During the year, Leon Max repaid £131,634 (2023 - £15,008) to Max Studio (UK) Limited. The loan is interest free and repayable on demand.
Parent company: Leon Max Inc, registered office: 3100 New York Drive, Pasadena, CA 91107, USA. The parent company draws up consolidated financial statements.
The audit report was signed by Steven Wakefield on behalf of Dixon Wilson Audit Services LLP, Statutory Auditor. The audit report was unqualified and no reference was made to any matters to which to auditor drew attention to by way of emphasis.