REGISTERED NUMBER: 01268865 (England and Wales)

MAXWELL STIRLING LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A M Stirling

Mrs A J Stirling

REGISTERED OFFICE:

Allt Yr Afon

Wolfscastle Country Hotel

Wolfscastle

Haverfordwest

Pembrokeshire

SA62 5LZ

REGISTERED NUMBER:

01268865 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Chartered Accountants

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

SOLICITORS:

Price and Son

33 Hill Lane

Haverfordwest

Pembrokeshire

FIXED ASSETS

Tangible assets

4

797,914

777,800

CURRENT ASSETS

Stocks

14,007

13,340

Debtors

5

3,669

3,239

Cash at bank and in hand

133,209

139,107

150,885

155,686

CREDITORS

Amounts falling due within one year

6

434,151

416,958

NET CURRENT LIABILITIES

(283,266

)

(261,272

)

TOTAL ASSETS LESS CURRENT LIABILITIES

514,648

516,528

CREDITORS

Amounts falling due after more than one year

7

(214,656

)

(210,114

)

PROVISIONS FOR LIABILITIES

(7,217

)

(9,733

)

NET ASSETS

292,775

296,681

CAPITAL AND RESERVES

Called up share capital

12,000

12,000

Retained earnings

280,775

284,681

SHAREHOLDERS' FUNDS

292,775

296,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

A M Stirling - Director

Mrs A J Stirling - Director

1.	STATUTORY INFORMATION

Maxwell Stirling 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.

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.

Turnover

Turnover represents net invoiced sales of goods & services, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% reducing balance

Cutlery and crockery

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Furniture and carpets

-

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

A defined contribution sheme is operated by the company on behalf of a director. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the sheme.

Grants

Grants received with regard to fixed assets are deducted from the purchase price of the related asset, with a consequent reduction in the annual charge for depreciation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 49 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST

At 1 January 2024

433,294

380,268

313,512

Additions

-

-

66,734

At 31 December 2024

433,294

380,268

380,246

DEPRECIATION

At 1 January 2024

59,085

30,425

285,088

Charge for year

8,665

7,605

24,455

At 31 December 2024

67,750

38,030

309,543

NET BOOK VALUE

At 31 December 2024

365,544

342,238

70,703

At 31 December 2023

374,209

349,843

28,424

Cutlery

Furniture

and

Motor

and

crockery

vehicles

carpets

Totals

£

£

£

£

COST

At 1 January 2024

10,639

17,890

449,681

1,605,284

Additions

-

-

-

66,734

At 31 December 2024

10,639

17,890

449,681

1,672,018

DEPRECIATION

At 1 January 2024

5,918

8,321

438,647

827,484

Charge for year

708

2,393

2,794

46,620

At 31 December 2024

6,626

10,714

441,441

874,104

NET BOOK VALUE

At 31 December 2024

4,013

7,176

8,240

797,914

At 31 December 2023

4,721

9,569

11,034

777,800

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,669

2,214

Other debtors

-

1,025

3,669

3,239

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

75,445

90,711

Taxation and social security

75,718

66,727

Other creditors

282,988

259,520

434,151

416,958

LLoyds Bank Plc hold a charge dated 24 July 2019 and 20 March 2020.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

214,656

210,114

8.	RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £32,194 (2023 £66,689)