Registration number:
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Howe Maxted Group Limited
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Brebners
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Howe Maxted Group Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Howe Maxted Group Limited
Company Information
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Director |
D W Kelly |
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Registered office |
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Auditor |
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Howe Maxted Group Limited
Strategic Report for the Year Ended 31 March 2025
The director presents his strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is that of insurance brokerage and financial services.
Fair review of the business
The company has traded for many years and has established itself within an industry sector that is highly competitive. The company prides itself on providing an excellent service for its existing customer base, a customer base that has grown by a combination of brand loyalty, word of mouth and tactical advertising, as it maintains a family atmosphere.
The company has shown strong and steady growth over the last number of years in a wide variety of products. Some of the products they are one of the few in the industry to offer. This year is no exception and again the company has continued to trade strongly in a difficult market sector. The directors are satisfied with the trading for the year, which has shown growth and has allowed the company to build on the solid foundations formed in previous years.
The company only traded for three months from 1 April 2024 to 28 June 2024 and ceased to generate new business from this date. Turnover comprises of commissions to 28th June 2024 together with run off commissions thereafter.
On 28 June 2024 the general business of the company was hived down into a wholly owned subsidiary undertaking, HMG (GI) Limited which was then sold to J M Glendenning Limited. The other specific business of the company was acquired by Wren Sterling Financial Planning Limited.
Turnover for the period amounted to £979,563 with an operating profit of £2,064,002, which included an amount of £1,559,728 in respect of the gain on the disposal of HMG (GI) Limited.
The company's subsidiary undertakings did not trade during the year.
Key Performance Indicators
Non-Financial Key Performance Indicators
The company seeks to ensure that responsible business practice is fully integrated into the management of all its operations and into the culture of all parts of its business. It believes that the consistent adoption of reasonable business practice is essential for operational excellence and maintain compliance within the industry sector which in turn ensures the delivery of its core objective of sustained profitability.
The directors consider there are collectively numerous non-financial performance indicators but that individually none are key.
Howe Maxted Group Limited
Strategic Report for the Year Ended 31 March 2025
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£000 |
980.00 |
2,541.00 |
|
Turnover Growth |
% |
(61.47) |
2.67 |
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Net profit margin |
% |
210.91 |
3.10 |
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Profit before tax |
£000 |
2,066.02 |
79.90 |
Principal risks and uncertainties
Objectives and policies
The company uses various financial instruments including loans, cash, equity capital and various items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.
The directors are responsible for determining the level of risk acceptable to to the company. The directors review and agree policies for managing the financial risks which are summarised below.
Market risk
The company operates in a competitive market. If the company does not continue to compete effectively by developing its services and responding to the activities of its competitors it could lose customers and its results, cash flow and financial conditions could be adversely affected.
The company finances its operations through cash deposits and there is therefore exposure to interest rate risk on these deposits.
Foreign currency risk
The company is exposed to currency exchange rate risk due to a proportion of its receivables and operating expenses being denominated in non-Sterling currencies. The net exposure of each currency is monitored and considered not to be significant.
Credit risk
The company's principal assets are cash deposits and trade debtors. The credit risk associated with cash deposits is limited as the accounts are held with major UK High Street banks. The principal credit risk arises therefore from trade debtors and the company manages closely its exposure to bad debts and makes prudent provision when required. Credit checks are undertaken before trade facilities are extended to new customers.
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs to invest cash assets safely and profitably.
The company's policy throughout the year has been to hold cash balances in readily accessible deposits and to utilise leasing facilities for substantial asset acquisitions where favourable rates can be obtained.
Risk Summary
The directors continuously monitor and respond to changes in the company's risk environment, so ensuring that the company remains well placed to address operational, reputational, financial and business risks in a timely and appropriate manner.
Howe Maxted Group Limited
Strategic Report for the Year Ended 31 March 2025
Approved by the
.........................................
Director
Howe Maxted Group Limited
Director's Report for the Year Ended 31 March 2025
The director presents his report and the financial statements for the year ended 31 March 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
During the year interim dividends amounting to £Nil (2023: £20,000) were paid. No final dividend is proposed.
Directors liability insurance
The company maintains Directors and officers liability insurance as permitted by section 233 of Companies Act 2006.
Information included in the Strategic report
The company has chosen in accordance with section 414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the large and medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of financial risk management, exposure and future developments.
Disclosure of information to the auditor
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Approved by the director on
.........................................
D W Kelly
Director
Howe Maxted Group Limited
Independent Auditor's Report to the Members of Howe Maxted Group Limited
for the Year Ended 31 March 2025
Opinion
We have audited the financial statements of Howe Maxted Group Limited (the 'company') for the year ended 31 March 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
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 profit 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. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
The company ceased to trade and transferred its undertakings on 28 June 2024. The director has decided that the company will go into voluntary liquidation in due course.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Howe Maxted Group Limited
Independent Auditor's Report to the Members of Howe Maxted Group Limited
for the Year Ended 31 March 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the (set out on page ), the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Howe Maxted Group Limited
Independent Auditor's Report to the Members of Howe Maxted Group Limited
for the Year Ended 31 March 2025
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the insurance broking industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws including health and safety legislation, anti-bribery legislation and data protection legislation The company is FCA regulated and any instances of non compliance are reportable. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management and those responsible for legal and compliance procedures. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements. In addition a report on client monies held is also compiled.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud and any instances of non compliance with FCA regulations.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Howe Maxted Group Limited
Independent Auditor's Report to the Members of Howe Maxted Group Limited
for the Year Ended 31 March 2025
......................................
For and on behalf of
1 Suffolk Way
TN13 1YL
Howe Maxted Group Limited
Statement of Income and Retained Earnings for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Administrative expenses |
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( |
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Operating profit |
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Other interest receivable and similar income |
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2,014 |
6,418 |
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Profit before tax |
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|
|
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Taxation |
( |
( |
|
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Profit for the financial year |
|
|
|
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Retained earnings brought forward |
764,396 |
725,436 |
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Dividends paid |
- |
( |
|
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Retained earnings carried forward |
2,817,614 |
764,396 |
Howe Maxted Group Limited
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Tangible assets |
- |
|
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Investments |
|
|
|
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Other financial assets |
- |
6,602 |
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|
|
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Current assets |
|||
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Debtors |
|
|
|
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Cash at bank and in hand |
- |
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
|
|
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Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
4,444 |
4,000 |
|
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Share premium reserve |
281,226 |
221,730 |
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Profit and loss account |
2,817,614 |
764,396 |
|
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Shareholders' funds |
3,103,284 |
990,126 |
Approved and authorised by the
......................................................................
D W Kelly
Director
Company registration number: 01854813
Howe Maxted Group Limited
Statement of Cash Flows for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
|
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Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
Financial instrument net losses through profit and loss |
( |
- |
|
|
Profit from disposals of investments |
( |
- |
|
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Finance income |
( |
( |
|
|
Income tax expense |
|
|
|
|
|
|
||
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Working capital adjustments |
|||
|
(Increase)/decrease in trade debtors |
( |
|
|
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Decrease in trade creditors |
( |
( |
|
|
Cash generated from operations |
( |
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Proceeds from sale of subsidiaries |
|
- |
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
- |
|
|
Proceeds from disposal of financial investments other than trading investments |
|
- |
|
|
Net cash flows from investing activities |
|
( |
|
|
Cash flows from financing activities |
|||
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Proceeds from issue of ordinary shares, net of issue costs |
|
- |
|
|
Dividends paid |
- |
( |
|
|
Net cash flows from financing activities |
|
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 April 24 |
|
|
|
|
Cash and cash equivalents at 31 March 25 |
- |
1,504,314 |
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Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
13-19 Derby Road
The principal place of business is:
17 Hatherley Road
Sidcup
Kent
DA14 4BP
The principal activity of the company is that of insurance brokerage and financial services.
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Group accounts not prepared
Going concern
The company made a profit for the year ended 31 March 2025 and had net assets of £3,103,284 at that date.
The company ceased to trade and transferred its undertakings on 28th June 2024. The director has decided that the company will go into voluntary liquidation in due course and therefore the financials statements have been prepared on a basis other than going concern.
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Judgements and sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
The company exercises judgement to determine useful lives and residual values of computer and office equipment. The assets are depreciated to their estimated residual values of their estimated useful lives. |
The company also exercises judgement as to the recoverability of outstanding customer balances. These are monitored on a regular basis and provided as a doubtful debts where appropriate. |
A source of estimation uncertainty is that of client compensation and clawbacks. Clawbacks occur when a policy does not go full term and commission is returned. Compensations are agreed upon by the ombudsman and are accounted for as they arise. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable from services rendered in the ordinary course of the company's activities. Commission income on insurance and associated products is recognised when the policy is incepted, except for direct commission which is recognised when it becomes payable.
Commission income on investment products is recognised when the funds are invested.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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:
|
Asset class |
Depreciation method and rate |
|
Furniture, Fittings & Equipment |
15% - 33% per annum |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
UK Commissions |
|
|
|
Rendering of services in UK |
|
|
|
Overseas commission |
|
|
|
|
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Gain/(loss) on disposal of property, plant and equipment |
|
- |
|
Gain/(loss) on disposal of other financial assets |
( |
- |
|
Gain/(loss) from disposals of investments |
1,563,499 |
- |
|
1,664,973 |
- |
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Foreign exchange losses |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
|
Bad debts |
(54,015) |
54,015 |
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
- |
|
|
|
|
|
Staff costs |
The aggregate payroll costs were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Management |
|
|
|
|
|
|
Director's remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
75,884 |
505,199 |
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of disallowable items |
|
|
|
Deferred tax credit relating to changes in tax rates or laws |
- |
( |
|
Deferred tax expense movement in the year |
|
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Tax decrease from effect of exercise of employee share options |
( |
- |
|
Effects of non taxable items |
( |
- |
|
Tax decrease from timing of pension payments |
- |
( |
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
|
2024 |
Asset |
|
Other timing differences |
|
|
|
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
|
Furniture, fittings and equipment |
|
|
Cost or valuation |
|
|
At 1 April 2024 |
|
|
Additions |
|
|
Disposals |
( |
|
At 31 March 2025 |
- |
|
Depreciation |
|
|
At 1 April 2024 |
|
|
Charge for the year |
|
|
Eliminated on disposal |
( |
|
At 31 March 2025 |
- |
|
Carrying amount |
|
|
At 31 March 2025 |
- |
|
At 31 March 2024 |
|
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
£ |
|
|
Cost or valuation |
|
|
At 1 April 2024 and 31 March 2025 |
|
|
Additions |
|
|
Disposals |
( |
|
At 31 March 2025 |
|
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
June 2025 |
March 2024 |
|||
|
Subsidiary undertakings |
||||
|
|
17 Hatherley Road
|
Ordinary |
|
|
|
|
17 Hatherley Road
|
Ordinary |
|
|
|
|
1 Suffolk Way
|
Ordinary |
|
|
|
Other financial assets (current and non-current) |
|
2025 |
2024 |
|
|
Non-current financial assets |
||
|
Financial assets at fair value through profit and loss |
- |
|
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Debtors |
|
2025 |
2024 |
||
|
Trade debtors |
- |
|
|
|
Other debtors |
|
- |
|
|
Prepayments |
- |
|
|
|
Deferred tax assets |
- |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
- |
|
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
- |
|
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
- |
|
|
Accrued expenses |
- |
|
|
Corporation tax liability |
773 |
17,422 |
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Howe Maxted Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
4,000 |
|
4,000 |
There are no restrictions on the purchase of shares or the declaration of dividends.
|
Share-based payments |
Scheme details and movements
During the year options over 444 ordinary shares of £1 each were exercised at £135 per share for a consideration of £59,940.
At 31 March 2025 there were no outstanding options (2024:444)
|
Dividends |
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £Nil ( 2024 - £ 5.00) per Ordinary share |
- |
20,000 |
||
|
Related party transactions |
Exemption has been taken under FRS102 paragraph 33.1A not to disclose transactions or amounts due with companies that are wholly owned within the group.
The dividends paid in the year shown in note 18 were paid to the directors. At 31 March 2025 an amount of £Nil (2024: £20,000) was due to the directors.
|
Ultimate parent company |
The company is a wholly owned subsidiary of Wren Sterling Financial Planning limited.
The smallest and largest group in which the results of the company are consolidated is that headed by Ensco 1084 Limited. The consolidated financial statements are available to the public and may be obtained from the registered office of Ensco 1084 Limited which is, 13-19 Derby Road, Nottingham NG1 5AA.
The ultimate controlling party is Lightyear Capital LLC.