Maxim Label And Packaging (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08662729 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Maxim Label And

Packaging (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Lee

D Devine

REGISTERED OFFICE:

c/o Parker Cavendish, Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

08662729 (England and Wales)

AUDITORS:

Parker Cavendish

Chartered Accountants

Registered Auditor

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Property, plant and equipment

5

60,595

56,450

Investments

6

10,854

-

71,449

56,450

CURRENT ASSETS

Inventories

97,385

103,061

Debtors

7

2,027,191

1,309,926

Cash at bank and in hand

183,616

133,735

2,308,192

1,546,722

CREDITORS

Amounts falling due within one year

8

901,929

898,641

NET CURRENT ASSETS

1,406,263

648,081

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,477,712

704,531

CREDITORS

Amounts falling due after more than one
year

9

1,135,742

1,140,320

NET ASSETS/(LIABILITIES)

341,970

(435,789

)

CAPITAL AND RESERVES

Called up share capital

1,125,700

Share premium

914,287

Retained earnings

(1,698,017

)

(2,475,776

)

SHAREHOLDERS' FUNDS

341,970

(435,789

)

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 Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

C Lee - Director

1.	STATUTORY INFORMATION

Maxim Label And Packaging (UK) 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts. Income is recognised on the dispatch of goods.

Tangible fixed assets

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

Short leasehold

-

straight line over the life of the lease

Improvements to property

-

straight line over the life of the lease

Plant and machinery

-

20% on cost

Stocks

Inventories 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 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

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.

Going concern

The financial statements have been prepared on a going concern basis. The Company is dependent on the continued financial support of its parent company in order to meet its liabilities as they fall due and to continue its operations. The parent company has confirmed its intention to provide financial support to the Company for at least the next 12 months from the date of approval of these financial statements.

Having reviewed the company's financial forecasts and expected future cash flows, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Although the Company is reliant on the parent company's continued financial support, the directors do not consider that this dependency constitutes a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Thus the going concern basis has been adopted in preparing the financial statements for the year ended 31 December 2024.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

-

495,137

Additions

24,072

2,405

26,477

At 31 December 2024

24,072

497,542

521,614

DEPRECIATION

At 1 January 2024

-

438,687

Charge for year

-

22,332

At 31 December 2024

-

461,019

NET BOOK VALUE

At 31 December 2024

24,072

36,523

60,595

At 31 December 2023

-

56,450

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

Maxim Dubai

10,854

-

7.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

166,519

109,660

Other debtors

621,601

576,159

788,120

685,819

2024

2023

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,239,071

624,107

Aggregate amounts

2,027,191

1,309,926

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

814,430

804,141

Taxation and social security

18,948

13,049

Other creditors

68,551

81,451

901,929

898,641

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Other creditors

1,135,742

1,140,320

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

152,000

Between one and five years

608,000

In more than five years

597,173

749,173

1,357,173

1,509,173

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

The Report of the Auditors was unqualified.

We draw your attention to Note 3 in the financial statements, which describes the directors' assessment of the Company's ability to continue as a going concern. The Company's forecasts indicate that continued support from the parent company will be required for at least the next 12 months. While this gives rise to uncertainty, the directors have concluded that these circumstances do not represent a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Raymond Rubenstein (Senior Statutory Auditor)

for and on behalf of Parker Cavendish

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available under FRS102 1A whereby it has not disclosed transactions and balances with any wholly owned group companies.

At the year end, an amount of £1,135,742 (2023: £1,140,320) was due to Maxim Smart Manufacturing Co., the parent company. This balance is repayable in 2028. The loans are interest bearing at a fixed rate of 3% per annum up to 19 June 2025 and then at 4.75% per annum from 20 June 2025.

At the year end, an amount of £612,221 (2023: £624,107) was due from Maxim Label and Packaging Germany GmbH & Co. KG (previously known as Klaus Korte Etiketten GmbH & Co. KG), a subsidiary company. This balance is repayable in 2028. The loans are interest bearing at a fixed rate of 3% per annum up to 19 June 2025 and then at 4.75% per annum from 20 June 2025.

13.	PARENT COMPANY

The parent company is Maxim Smart Manufacturing Co., a company incorporated in China and its registered office is No.398 Jinxiu Avenue, Yaozhuang Town, Jiashan County, Zhejiang Province.