Maxfin Partners Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08796873

Maxfin Partners Limited

Filleted Unaudited Financial Statements

30 November 2024

Maxfin Partners Limited

Statement of Financial Position

30 November 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	4	35,086	46,776
Tangible assets	5	788	1,050
		--------	--------
		35,874	47,826

Current assets

Cash at bank and in hand	–	29

Creditors: amounts falling due within one year	6	31,352	43,392
		--------	--------
Net current liabilities		31,352	43,363
		--------	--------
Total assets less current liabilities		4,522	4,463

Creditors: amounts falling due after more than one year	7	40,748	43,648
		--------	--------
Net liabilities		( 36,226)	( 39,185)
		--------	--------

Capital and reserves

Called up share capital	4,104	4,104
Share premium account	177,994	177,994
Profit and loss account	( 218,324)	( 221,283)
	---------	---------
Shareholders deficit	( 36,226)	( 39,185)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Maxfin Partners Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 15 October 2025 , and are signed on behalf of the board by:

Mr S Rex
Director

Company registration number: 08796873

Maxfin Partners Limited

Notes to the Financial Statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	No amortisation will be provided for until the software is completed.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Intangible assets

	Development costs
	£
Cost
At 1 December 2023 and 30 November 2024	85,146
	--------
Amortisation
At 1 December 2023	38,370
Charge for the year	–
Impairment losses	11,690
	--------
At 30 November 2024	50,060
	--------
Carrying amount
At 30 November 2024	35,086
	--------
At 30 November 2023	46,776
	--------

5. Tangible assets

	Equipment
	£
Cost
At 1 December 2023 and 30 November 2024	3,705
	-------
Depreciation
At 1 December 2023	2,655
Charge for the year	262
	-------
At 30 November 2024	2,917
	-------
Carrying amount
At 30 November 2024	788
	-------
At 30 November 2023	1,050
	-------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,897	2,900
Trade creditors	–	582
Other creditors	25,455	39,910
	--------	--------
	31,352	43,392
	--------	--------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	40,748	43,648
	--------	--------