General Information
Maxfe Limited is a private company, limited by shares, registered in England and Wales, registration number 04771395, registration address 65 Peach Street, Wokingham, Berkshire, United Kingdom, RG40 1XP.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
20% Straight Line
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
20% Straight Line
|
| Computer Equipment |
20% Straight Line
|
| Improvements to property |
20% Straight Line |
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 9 (2024 : 10).
|
| 3. |
Intangible fixed assets
| Cost |
Software License |
|
Total |
| |
£ |
|
£ |
| At 01 November 2024 |
8,820 |
|
8,820 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 October 2025 |
8,820 |
|
8,820 |
| Amortisation |
| At 01 November 2024 |
5,515 |
|
5,515 |
| Charge for year |
1,764 |
|
1,764 |
| On disposals |
- |
|
- |
| At 31 October 2025 |
7,279 |
|
7,279 |
| Net book values |
| At 31 October 2025 |
1,541 |
|
1,541 |
| At 31 October 2024 |
3,305 |
|
3,305 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Improvements to property |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 November 2024 |
25,929 |
|
104,551 |
|
35,373 |
|
4,685 |
|
25,694 |
|
196,232 |
| Additions |
1,750 |
|
- |
|
1,015 |
|
1,696 |
|
- |
|
4,461 |
| Disposals |
- |
|
(2,667) |
|
- |
|
- |
|
- |
|
(2,667) |
| At 31 October 2025 |
27,679 |
|
101,884 |
|
36,388 |
|
6,381 |
|
25,694 |
|
198,026 |
| Depreciation |
| At 01 November 2024 |
24,670 |
|
44,948 |
|
33,022 |
|
2,723 |
|
21,263 |
|
126,626 |
| Charge for year |
746 |
|
14,901 |
|
1,030 |
|
1,147 |
|
1,477 |
|
19,301 |
| On disposals |
- |
|
(2,667) |
|
- |
|
- |
|
- |
|
(2,667) |
| At 31 October 2025 |
25,416 |
|
57,182 |
|
34,052 |
|
3,870 |
|
22,740 |
|
143,260 |
| Net book values |
| Closing balance as at 31 October 2025 |
2,263 |
|
44,702 |
|
2,336 |
|
2,511 |
|
2,954 |
|
54,766 |
| Opening balance as at 01 November 2024 |
1,259 |
|
59,603 |
|
2,351 |
|
1,962 |
|
4,431 |
|
69,606 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Amounts recoverable on contract |
- |
|
74,683 |
| Stocks |
203,771 |
|
227,887 |
|
203,771 |
|
302,570 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
61,641 |
|
83,651 |
| Prepayments & Accrued Income |
20,771 |
|
15,990 |
| Amounts Recoverable on Contracts |
82,914 |
|
- |
| Other Debtors |
3,242 |
|
8,742 |
|
168,568 |
|
108,383 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
113,537 |
|
153,287 |
| Social Security and Other Taxes |
35,729 |
|
95,536 |
| Accrued Expenses |
4,456 |
|
3,547 |
| Other Creditors |
9,074 |
|
7,100 |
| Obligations under HP/Financial Leases |
12,799 |
|
26,847 |
| Receipts In Advance |
103,603 |
|
70,878 |
| Business Card |
3,280 |
|
2,132 |
| Directors' Current Accounts |
1,714 |
|
1,307 |
|
284,192 |
|
360,634 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations Under HP/Financial Leases |
37,331 |
|
50,130 |
|
37,331 |
|
50,130 |
|
| 9. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
13,599 |
|
17,189 |
|
13,599 |
|
17,189 |
|
| 10. |
Related Party Transactions
At the balance sheet date the company was owed £5,285 (2024 - £5,665) to Maxwell Felix Ltd, a company in which director holds a participating interest. During the year, the company incurred expenses of £2,200 (2024 - £3,375) in respect of services received from Maxwell Felix Ltd
Other debtors includes loan given to director's son F Barlow of £1,242
|
4
|