ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 May 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 09037814

MAXEL CAPITAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025


MAXEL CAPITAL LIMITED REGISTERED NUMBER:09037814

BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due after more than one year	4	14,500		14,500
Current asset investments	5	-		16,014
Cash at bank and in hand		850		492
		15,350		31,006
Creditors: amounts falling due within one year	6	(407,757)		(371,357)
Net current liabilities			(392,407)		(340,351)

Net liabilities			(392,407)		(340,351)

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	(393,407)	(341,351)
	(392,407)	(340,351)

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MAXEL CAPITAL LIMITED REGISTERED NUMBER:09037814

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

A Michaelsen

Director

Date: 22 May 2026

The notes on pages 3 to 6 form part of these financial statements.

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MAXEL CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

Maxel Capital Limited is a limited liability company incorporated in England. The registered office and trading address is 63 High Street, Wimbledon, London, SW19 5EE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

During the year the company has made a loss of £52,056 (2024: £22,660) and the company balance sheet at 31 May 2025 shows a deficit of £392,407 (2024: £340,351). However, this is supported by the director's loan account balance of £403,157 (see note 8). The directors have confirmed that repayment will not be sought unless the company has cash resources to do so. On this basis the directors believe that it is appropriate to prepare the accounts on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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MAXEL CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Debtors
		2025	2024
		£	£

Due after more than one year
Rental Deposit	14,500	14,500

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MAXEL CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

5.	Current asset investments
		2025	2024
		£	£

	Unlisted investments	-	16,014

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Trade creditors	2,100	4,500
Other creditors	403,157	364,357
Accruals and deferred income	2,500	2,500
	407,757	371,357

Not later than 1 year

7,250

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MAXEL CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

8.	Related party transactions
	Material balances with related parties arising during the year were as follows:


		2025	2024
		£	£

Included in other creditors
P W Michaelsen	168,966	168,766
A Michaelsen	234,191	195,591
	403,157	364,357

Nature of relationship and control
Philip Michaelsen and Allan Michaelsen are both directors and shareholders of the company. The loans are unsecured, interest free with no fixed terms for repayment.

9.	Controlling party

The company is controlled jointly by P W Michaelsen and A Michaelsen by virtue of their 50% shareholding each.

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