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REGISTERED NUMBER: 02785390 (England and Wales)

| MAXIN LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2025 |

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| MAXIN LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | Mr. H Stealey

| REGISTERED OFFICE: | 36

| Lower Keyford

| Frome

| BA11 4AS

| REGISTERED NUMBER: | 02785390 (England and Wales)

| ACCOUNTANTS: | Carston ETL

| Tudor House

| 16 Cathedral Road

| Cardiff

| CF11 9LJ

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 4 | 492 |  | 8,333 |  |

Tangible assets | 5 | 666,062 |  | 692,993 |  |

Investments | 6 | 251,454 |  | 251,454 |  |

Investment property | 7 | 4,645,000 |  | 4,645,000 |  |

5,563,008 |  | 5,597,780 |  |

CURRENT ASSETS

Debtors | 8 | 323,567 |  | 301,375 |  |

Cash at bank and in hand | 1,862 |  | 2,415 |  |

325,429 |  | 303,790 |  |

CREDITORS

Amounts falling due within one year | 9 | 2,546,703 |  | 1,311,751 |  |

NET CURRENT LIABILITIES | (2,221,274 | ) | (1,007,961 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,341,734 |  | 4,589,819 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (548,088 | ) | (1,576,365 | ) |

PROVISIONS FOR LIABILITIES | 12 | (662,809 | ) | (715,116 | ) |

NET ASSETS | 2,130,837 |  | 2,298,338 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 80,000 |  | 80,000 |  |

Fair value reserve | 2,217,472 |  | 2,217,472 |  |

Retained earnings | (166,635 | ) | 866 |  |

SHAREHOLDERS' FUNDS | 2,130,837 |  | 2,298,338 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2025

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2025 and were signed by:

Mr. H Stealey - Director

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Maxin Limited 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

| 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:

| Intangible assets - 9 years

| 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.

| Tangible fixed assets

| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

| 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:

| Leasehold - Depreciated once asset brought into a useable condition.

| Plant & machinery - 15% straight line

| Motor vehicles - 25% straight line

| Fixed asset investments and investment property

| Fixed asset investments are initially recorded at cost, and subsequently remeasured at fair value, which is the amount for which the property could be exchanged between knowledgeable, willing parties in an arm's length transaction.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

4. | INTANGIBLE FIXED ASSETS

Other |

Intangible |

Assets |

| £

| COST

| At 1 April 2024

| and 31 March 2025 | 70,570 |  |

| AMORTISATION

| At 1 April 2024 | 62,237 |  |

| Amortisation for year | 7,841 |  |

| At 31 March 2025 | 70,078 |  |

| NET BOOK VALUE

| At 31 March 2025 | 492 |  |

| At 31 March 2024 | 8,333 |  |

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | TANGIBLE FIXED ASSETS

Freehold | Plant and | Motor |

property | machinery | vehicles | Totals |

| £ | £ | £ | £

| COST

| At 1 April 2024

| and 31 March 2025 | 684,147 |  | 899,693 |  | 127,572 |  | 1,711,412 |  |

| DEPRECIATION

| At 1 April 2024 | 47,512 |  | 877,535 |  | 93,372 |  | 1,018,419 |  |

| Charge for year | - |  | 16,131 |  | 10,800 |  | 26,931 |  |

| At 31 March 2025 | 47,512 |  | 893,666 |  | 104,172 |  | 1,045,350 |  |

| NET BOOK VALUE

| At 31 March 2025 | 636,635 |  | 6,027 |  | 23,400 |  | 666,062 |  |

| At 31 March 2024 | 636,635 |  | 22,158 |  | 34,200 |  | 692,993 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor |

vehicles |

| £

| COST

| At 1 April 2024

| and 31 March 2025 | 43,200 |  |

| DEPRECIATION

| At 1 April 2024 | 9,000 |  |

| Charge for year | 10,800 |  |

| At 31 March 2025 | 19,800 |  |

| NET BOOK VALUE

| At 31 March 2025 | 23,400 |  |

| At 31 March 2024 | 34,200 |  |

6. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

2025 | 2024 |

| £ | £

| Motor vehicles | 251,454 |  | 251,454 |  |

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

7. | INVESTMENT PROPERTY

Total |

| £

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 4,645,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 4,645,000 |  |

| At 31 March 2024 | 4,645,000 |  |

| Fair value at 31 March 2025 is represented by:

| £

| Valuation in 2006 | 1,688,371 |  |

| Valuation in 2010 | 1,371,629 |  |

| Valuation in 2021 | 4,075,000 |  |

| Valuation in 2023 | (2,490,000 | ) |

4,645,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

| £ | £

| Cost | 1,688,371 |  | 1,688,371 |  |

| The investment property has been revalued to its fair values by the directors of the company.

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade debtors | 186,480 |  | 301,375 |  |

| Other debtors | 137,087 |  | - |  |

323,567 |  | 301,375 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Bank loans and overdrafts | 1,160,344 |  | 155,879 |  |

| Hire purchase contracts | 29,568 |  | 31,248 |  |

| Trade creditors | 688,007 |  | 153,014 |  |

| Taxation and social security | 43,828 |  | 40,746 |  |

| Other creditors | 624,956 |  | 930,864 |  |

2,546,703 |  | 1,311,751 |  |

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

| £ | £

| Bank loans | - |  | 939,083 |  |

| Hire purchase contracts | 151,236 |  | 177,848 |  |

| Other creditors | 396,852 |  | 459,434 |  |

548,088 |  | 1,576,365 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yrs | - |  | 752,474 |  |

11. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

| £ | £

| Bank loans | 1,041,813 |  | 1,011,523 |  |

| Hire purchase contracts | 180,804 |  | 209,096 |  |

1,222,617 |  | 1,220,619 |  |

| The bank loans are secured via a first legal charge over the investment properties at 21 Portland Square Bristol, 135 Wilder Street Bristol, Stonewall Manor Frome and freehold land known as Land lying to the North of Lower Keyford, Frome. Security also takes the form of an unlimited debenture dated 31/10/2002 incorporating a fixed and floating charge.

| Amounts due under hire purchase agreements are secured against the assets to which they relate to.

12. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| £ | £

| Deferred tax

| Accelerated capital allowances | 7,357 |  | 13,405 |  |

| Tax losses carried forward | (83,705 | ) | (37,446 | ) |

| Inv Prop FV Increase | 739,157 |  | 739,157 |  |

662,809 |  | 715,116 |  |

Deferred tax |

| £

| Balance at 1 April 2024 | 715,116 |  |

| Deferred Tax Movement | (52,307 | ) |

| Balance at 31 March 2025 | 662,809 |  |

| MAXIN LIMITED (REGISTERED NUMBER: 02785390) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 80,000 | Ordinary | £1 | 80,000 |  | 80,000 |  |

14. | RELATED PARTY DISCLOSURES

| The company leases a property called Long Park Castle which is owned by Mr Harold Stealey. The company is not charged for the use of the property.

| The company also leases a pleasure yacht which is owned by Mr Thomas Flight. The company is not charged for the use of the yacht.