Company registration number 00452056 (England and Wales)
A J MAXWELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
A J MAXWELL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
A J MAXWELL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
80,504
78,821
Investment properties
5
12,000,000
11,800,000
12,080,504
11,878,821
Current assets
Debtors
6
152
2,820
Cash at bank and in hand
2,666,862
2,491,337
2,667,014
2,494,157
Creditors: amounts falling due within one year
7
(534,896)
(473,485)
Net current assets
2,132,118
2,020,672
Total assets less current liabilities
14,212,622
13,899,493
Provisions for liabilities
(2,075,886)
(2,028,537)
Net assets
12,136,736
11,870,956
Capital and reserves
Called up share capital
9
8,900
8,900
Investment property revaluation reserve
9,204,469
9,010,399
Profit and loss reserves
2,923,367
2,851,657
Total equity
12,136,736
11,870,956

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

A J MAXWELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
31 March 2026
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
P R Maxwell
Director
Company Registration No. 00452056
A J MAXWELL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2024
8,900
9,010,399
2,787,346
11,806,645
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
-
90,811
90,811
Dividends
3
-
-
(26,500)
(26,500)
Balance at 31 March 2025
8,900
9,010,399
2,851,657
11,870,956
Year ended 31 March 2026:
Profit and total comprehensive income for the year
-
-
299,780
299,780
Dividends
3
-
-
(34,000)
(34,000)
Transfer to investment property revaluation reserve
-
194,070
(194,070)
-
Balance at 31 March 2026
8,900
9,204,469
2,923,367
12,136,736
A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

A J Maxwell Limited is a private company limited by shares incorporated in England and Wales. The registered office is Albury Farm (East), Great Cambridge Road, Cheshunt, Hertfordshire, EN8 8XH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for sale of farm products and rent receivable for letting of commercial properties and is shown net of VAT and other sales related taxed.

Farm product sales are recognised on delivery and rental income in the period to which the rent relates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Land and buildings
None
Plant and machinery
25% Straight line
Fixtures, fittings and equipment
10% Straight line
Motor vehicles
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
4
4
A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
3
Dividends
2026
2025
2026
2025
Per share
Per share
Total
Total
£
£
£
£
Ordinary C shares
Interim paid
13.46
25.48
14,000
26,500
Ordinary D shares
Interim paid
33.33
-
0
10,000
-
0
Ordinary E shares
Interim paid
33.33
-
10,000
-
Total dividends
Interim paid
34,000
26,500
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2025
50,765
153,294
204,059
Additions
-
0
9,365
9,365
Disposals
-
0
(1,977)
(1,977)
At 31 March 2026
50,765
160,682
211,447
Depreciation and impairment
At 1 April 2025
-
0
125,238
125,238
Depreciation charged in the year
-
0
7,290
7,290
Eliminated in respect of disposals
-
0
(1,585)
(1,585)
At 31 March 2026
-
0
130,943
130,943
Carrying amount
At 31 March 2026
50,765
29,739
80,504
At 31 March 2025
50,765
28,056
78,821
A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
5
Investment property
2026
£
Fair value
At 1 April 2025
11,800,000
Additions
5,930
Revaluations
194,070
At 31 March 2026
12,000,000

The fair value of the investment property was originally arrived at on the basis of a valuation carried out at December 2016 by Bidwells LLP, who are not connected with the company. With capital improvements in 2026 of £5,930 and increases in land value and rental returns the directors were of an opinion that the fair value of the investment property should be increased by £194,070 to £12,000,000 at 31 March 202 6.

6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
152
2,820
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
1,041
2,638
Corporation tax
75,587
57,380
Other taxation and social security
52,895
28,564
Other creditors
405,373
384,903
534,896
473,485
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Accelerated capital allowances
34,560
34,560
Investment property
1,993,977
1,993,977
2,028,537
2,028,537
A J MAXWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
8
Deferred taxation
(Continued)
- 9 -
Statutory database figures differ from the trial balance:
Deferred tax balances
2,075,886
2,028,537
Difference
(47,349)
-
Balance per TB
2,075,886
Warning - Difference exists; check stat db entries
47,349
There were no deferred tax movements in the year.
9
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
2,360
2,360
2,360
2,360
B non voting ordinary shares of £1 each
900
900
900
900
Ordinary C shares of £1 each
1,040
1,040
1,040
1,040
Ordinary D shares of £1 each
300
300
300
300
Ordinary E shares of £1 each
300
300
300
300
Ordinary F shares of £1 each
4,000
4,000
4,000
4,000
8,900
8,900
8,900
8,900
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