REGISTERED NUMBER: 08597528 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MAXCO FINANCIAL LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J D Wasylkiw

REGISTERED OFFICE:

18 Minster Way

Bath

BA2 6RH

REGISTERED NUMBER:

08597528 (England and Wales)

ACCOUNTANTS:

Graham Barber Accountancy Limited

18 Minster Way

Bath

BA2 6RH

BANKERS:

Barclays Bank plc

128 High Street

Cheltenham

GL50 1EG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

554

-

554

CURRENT ASSETS

Debtors

49,187

36,485

Cash at bank

656

3,570

49,843

40,055

CREDITORS

Amounts falling due within one year

(32,718

)

(28,150

)

NET CURRENT ASSETS

17,125

11,905

TOTAL ASSETS LESS CURRENT LIABILITIES

17,125

12,459

CREDITORS

Amounts falling due after more than one year

(3,855

)

(6,940

)

PROVISIONS FOR LIABILITIES

-

(111

)

NET ASSETS

13,270

5,408

CAPITAL AND RESERVES

Called up share capital

6

10

10

Retained earnings

13,260

5,398

SHAREHOLDERS' FUNDS

13,270

5,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 10 June 2026 and were signed by:

J D Wasylkiw - Director

1.	STATUTORY INFORMATION

Maxco Financial 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.	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.

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents commissions receivable, based on business written making due provision for clawbacks.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 cost

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.

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.

Expenses and vat

All expenses are stated gross, including irrecoverable VAT.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2023

and 30 September 2024

6,280

AMORTISATION

At 1 October 2023

and 30 September 2024

6,280

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2023

and 30 September 2024

6,329

DEPRECIATION

At 1 October 2023

5,775

Charge for year

554

At 30 September 2024

6,329

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

554

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10

Ordinary

£1

10

10

7.	OTHER FINANCIAL COMMITMENTS

Outstanding pension liabilities at the year end were £101 (2023 £39).

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024

2023

£

£

J D Wasylkiw

Balance outstanding at start of year

18,965

18,675

Amounts advanced

14,953

290

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

33,918

18,965

Interest on the overdrawn director's current account has been charged at the official rate.