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Company Registration No. 12449695 (England and Wales)
Maxis Properties Limited Unaudited accounts for the year ended 28 February 2026
Maxis Properties Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Maxis Properties Limited Company Information for the year ended 28 February 2026
Director
Mindaugas Barbsys
Company Number
12449695 (England and Wales)
Registered Office
Unit 1 Albion Drive Thurnscoe Rotherham South Yorkshire S63 0BA England
Accountants
Accountancy Solutions 4U Ltd 12 Lilac Road Dogsthorpe Peterborough Cambridgeshire PE1 4PR
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Maxis Properties Limited Statement of financial position as at 28 February 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
14,925
8,550
Investment property
5
794,873
756,720
809,798
765,270
Current assets
Debtors
6
966
1,254
Cash at bank and in hand
615
2,235
1,581
3,489
Creditors: amounts falling due within one year
7
(236,202)
(259,571)
Net current liabilities
(234,621)
(256,082)
Total assets less current liabilities
575,177
509,188
Creditors: amounts falling due after more than one year
8
(305,620)
(293,100)
Provisions for liabilities
Deferred tax
(11,132)
(10,697)
Net assets
258,425
205,391
Capital and reserves
Called up share capital
9
100
1
Profit and loss account
258,325
205,390
Shareholders' funds
258,425
205,391
For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 July 2026 and were signed on its behalf by
Mindaugas Barbsys Director Company Registration No. 12449695
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Maxis Properties Limited Notes to the Accounts for the year ended 28 February 2026
1
Statutory information
Maxis Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12449695. The registered office is Unit 1, Albion Drive, Thurnscoe, Rotherham, South Yorkshire, S63 0BA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible fixed assets and depreciation Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an inpairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 33 1/3% Straight line Furniture, fitting and equipment 20% Straight line
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interests method, less impairment losses for bad and doubtful debts.
Trade and other 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.
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Maxis Properties Limited Notes to the Accounts for the year ended 28 February 2026
Leased assets
Where the company enters into lease which entails taking substantially all the risk and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risk and rewards of ownership to the Company are classified as operating leases. Assets held under finance leases are initially recogniced as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The correcponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recogniced immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the moment of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
- 6 -
Maxis Properties Limited Notes to the Accounts for the year ended 28 February 2026
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 March 2025
799
26,349
27,148
Additions
6,110
9,464
15,574
At 28 February 2026
6,909
35,813
42,722
Depreciation
At 1 March 2025
799
17,799
18,598
Charge for the year
2,036
7,163
9,199
At 28 February 2026
2,835
24,962
27,797
Net book value
At 28 February 2026
4,074
10,851
14,925
At 28 February 2025
-
8,550
8,550
5
Investment property
2026
£
Fair value at 1 March 2025
756,720
Net gain from fair value adjustments
38,153
At 28 February 2026
794,873
Investment properties are revaluated annually by the Director and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
6
Debtors
2026
2025
£
£
Amounts falling due within one year
Accrued income and prepayments
966
1,254
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
3,971
-
VAT
2,784
3,745
Trade creditors
7,402
8,070
Taxes and social security
2,940
11,851
Other creditors
2,708
2,708
Loans from directors
216,397
233,197
236,202
259,571
- 7 -
Maxis Properties Limited Notes to the Accounts for the year ended 28 February 2026
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
12,620
20,100
Other creditors
293,000
273,000
305,620
293,100
9
Share capital
2026
2025
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
1
Shares issued during the period:
99 Ordinary shares of £1 each
99
10
Transactions with related parties
A loan from Maxis Trading Ltd which has the same controlling shareholder as the company £106000 (2025 £106000). A loan from Recycling and Management Services (Collections) Ltd which has the same controlling shareholder as the company £187000 (2025 £147000). Both loans are non-ineterst bearing and are currently repayable, on a flexible basis over 10 years.
11
Average number of employees
During the year the average number of employees was 1 (2025: 1).
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