Company No: 08992530 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		6,733
Tangible assets	4	0		2,512
		0		9,245
Current assets
Stocks		0		65,000
Debtors	5	0		3,210
Cash at bank and in hand		4,709		8,109
		4,709		76,319
Creditors: amounts falling due within one year	6	( 81,133)		( 1,116,620)
Net current liabilities		(76,424)		(1,040,301)
Total assets less current liabilities		(76,424)		(1,031,056)
Creditors: amounts falling due after more than one year	7	0		( 4,415)
Net liabilities		( 76,424)		( 1,035,471)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 76,524 )		( 1,035,571 )
Total shareholders' deficit		( 76,424)		( 1,035,471)

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Maxtop Quartz Limited (registered number: 08992530) were approved and authorised for issue by the Board of Directors on 05 August 2026. They were signed on its behalf by:

R S Moss Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Maxtop Quartz Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Plasman Industrial Estate, Marquis Street, Manchester, M19 3JH, United Kingdom.

The financial statements have been prepared in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Subsequent to the reporting date, the directors resolved that the Company should cease trading and be placed into Members' Voluntary Liquidation. As a consequence, the directors do not consider it appropriate to prepare the financial statements on the going concern basis.

Accordingly, these financial statements have been prepared on a basis other than the going concern basis.

Under this basis of preparation, assets are stated at their estimated net realisable values and liabilities are stated at the amounts expected to be settled. Provision has been made for liabilities arising from the decision to place the Company into Members' Voluntary Liquidation, including estimated liquidation costs, where a present obligation exists and the amount can be estimated reliably.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have prepared the financial statements on a basis other than the going concern basis because they have resolved to cease trading and place the company into members' voluntary liquidation following approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Vehicles	5 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets
and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties
and investments in ordinary shares.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, excluding directors	0		1

The directors did not receive any remuneration during the year.

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	8,000		8,000
Disposals	( 8,000)		( 8,000)
At 31 December 2025	0		0
Accumulated amortisation
At 01 January 2025	1,267		1,267
Charge for the financial year	600		600
Disposals	( 1,867)		( 1,867)
At 31 December 2025	0		0
Net book value
At 31 December 2025	0		0
At 31 December 2024	6,733		6,733

4. Tangible assets

	Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2025	3,877		2,958		3,831		10,666
Additions	5,000		0		0		5,000
Disposals	( 8,877)		( 2,958)		( 3,831)		( 15,666)
At 31 December 2025	0		0		0		0
Accumulated depreciation
At 01 January 2025	2,805		1,677		3,672		8,154
Charge for the financial year	161		93		87		341
Disposals	( 2,966)		( 1,770)		( 3,759)		( 8,495)
At 31 December 2025	0		0		0		0
Net book value
At 31 December 2025	0		0		0		0
At 31 December 2024	1,072		1,281		159		2,512

5. Debtors

	2025		2024
	£		£
Other debtors	0		3,210

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		10,396
Trade creditors	0		4,300
Amounts owed to associates	0		1,017,885
Amounts owed to directors	32,613		32,955
Accruals	8,425		4,752
Other taxation and social security	3,445		18,682
Other creditors	36,650		27,650
	81,133		1,116,620

Bank loans represented a government backed bank loan. The loan attracted interest at 2.5% per annum, was unsecured, and repayable monthly over a 5 year term. No balance was outstanding at 31 December 2025.

During the year, fellow group undertakings formally waived amounts due from the Company totalling £1,015,886. Following the legal release of these liabilities, the Company recognised a corresponding credit operating income and clearing the balance in Amounts owed to associates to nil.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		4,415

Bank loans represented a government backed bank loan. The loan attracted interest at 2.5% per annum, was unsecured, and repayable monthly over a 5 year term. No balance was outstanding at 31 December 2025.

8. Related party transactions

During the year, the company entered into transactions with three companies that are related through common ownership.

During the year the balance of £92,188 was formally released by the related party. At the year end, no balance was owed to this related party (2024: £92,188 owed).

During the year the balance of £895,801 was formally released by the related party. At the year end, no balance was owed to this related party (2024: £895,801 owed).

During the year the company received invoices from one of the related parties amounting to £nil (2024: £22,025). The company also made sales to the same related party of £nil (2024: £5,795 ). During the year the balance of £27,897 was released by the related party. Therefore at the year end the company owed £nil (2024: £29,897) to this related party.

During the year, fellow group undertakings formally waived amounts due from the Company totalling £1,015,886. Following the legal release of these liabilities, the Company recognised a corresponding credit within operating income (as shown in note 3 exceptional items).

9. Events after the Balance Sheet date

Following the year end the directors resolved to cease trading and will place the company into members' voluntary liquidation. This decision has been reflected in the basis of preparation of these financial statements.