REGISTERED NUMBER: 09806884 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Maxwell GeoSystems UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr A S Maxwell

REGISTERED OFFICE:

65a Loxley Road

Wandsworth

London

SW18 3LL

REGISTERED NUMBER:

09806884 (England and Wales)

AUDITORS:

Mander Duffill

Chartered Accountants & Statutory Auditor

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Tangible assets

4

1,918

2,445

CURRENT ASSETS

Debtors

5

265,782

229,924

Cash at bank

34,214

56,985

299,996

286,909

CREDITORS

Amounts falling due within one year

6

484,927

477,796

NET CURRENT LIABILITIES

(184,931

)

(190,887

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(183,013

)

(188,442

)

CREDITORS

Amounts falling due after more than one year

7

(4,409

)

(14,806

)

PROVISIONS FOR LIABILITIES

(480

)

(611

)

NET LIABILITIES

(187,902

)

(203,859

)

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

11,610

-

Retained earnings

(199,612

)

(203,959

)

SHAREHOLDERS' FUNDS

(187,902

)

(203,859

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

Dr A S Maxwell - Director

1.	STATUTORY INFORMATION

Maxwell GeoSystems UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

Management have prepared detailed forecasts for a period extending beyond 12 months from the date that these financial statements are approved. At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has also obtained assurance from its parent company that it will provide financial support to enable the company to meet its liabilities as they fall due if required. The financial statements have therefore been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods.

Revenue from the sale of goods or services is recognised when all of the following conditions are satisfied:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction can be measured reliably.

Specifically, revenue from the sale of goods is primarily recognised upon delivery or completion of the goods or services to customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

5,691

Additions

732

At 31 December 2024

6,423

DEPRECIATION

At 1 January 2024

3,246

Charge for year

1,259

At 31 December 2024

4,505

NET BOOK VALUE

At 31 December 2024

1,918

At 31 December 2023

2,445

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

7,804

20,004

Amounts owed by group undertakings

27,828

29,060

Other debtors

230,150

180,860

265,782

229,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

11,284

10,140

Trade creditors

2,666

2,084

Amounts owed to group undertakings

206,934

281,664

Other creditors

264,043

183,908

484,927

477,796

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,409

14,806

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Julian Duffill (Senior Statutory Auditor)

for and on behalf of Mander Duffill

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr A S Maxwell.