Maximus Strategic Warmley Limited - Period Ending 2018-03-31

Registration number: 09185363

Maximus Strategic Warmley Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Titanium Accountants Limited
8th Floor, Newater House
11 Newhall Street
Birmingham
West Midlands
B3 3NY

Maximus Strategic Warmley Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 8

Maximus Strategic Warmley Limited

Company Information

Directors

Mr J Hickton Mr S A M Corner

Registered office

8th Floor Newater House 11 Newhall Street Birmingham West Midlands B3 3NY

Accountants

Titanium Accountants Limited 8th Floor, Newater House 11 Newhall Street Birmingham West Midlands B3 3NY

Page 1

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Maximus Strategic Warmley Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Maximus Strategic Warmley Limited for the year ended 31 March 2018 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Maximus Strategic Warmley Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Maximus Strategic Warmley Limited. You consider that Maximus Strategic Warmley Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Maximus Strategic Warmley Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Titanium Accountants Limited
8th Floor, Newater House
11 Newhall Street
Birmingham
West Midlands
B3 3NY

18 December 2018

Page 2

Maximus Strategic Warmley Limited

Statement of Comprehensive Income for the Year Ended 31 March 2018

	Note	2018 £	2017 £
Profit/(loss) for the year		-	-
Total comprehensive income for the year		-	-

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 3

Maximus Strategic Warmley Limited

(Registration number: 09185363)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Current assets
Stocks	3	126,363	125,685
Cash at bank and in hand		100	100
		126,463	125,785
Creditors: Amounts falling due within one year	4	(126,363)	(125,685)
Net assets		100	100
Capital and reserves
Called up share capital		100	100
Total equity		100	100

For the financial year ending 31 March 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 December 2018 and signed on its behalf by:
 

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

Mr J Hickton

Director

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 4

Maximus Strategic Warmley Limited

Statement of Changes in Equity for the Year Ended 31 March 2018

	Share capital £	Total £
At 1 April 2017	100	100
At 31 March 2018	100	100

	Share capital £	Total £
At 1 April 2016	100	100
At 31 March 2017	100	100

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 5

Maximus Strategic Warmley Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
8th Floor
Newater House
11 Newhall Street
Birmingham
West Midlands
B3 3NY

These financial statements were authorised for issue by the Board on 18 December 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Page 6

Maximus Strategic Warmley Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Stocks

	2018 £	2017 £
Work in progress	126,363	125,685

Page 7

Maximus Strategic Warmley Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Creditors

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts	5	53,900	53,900
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6	62,285	62,285
Other creditors		10,178	9,500
		126,363	125,685

5	Loans and borrowings

	2018 £	2017 £
Current loans and borrowings
Other borrowings	53,900	53,900

Other borrowings refer to monies owed to the Director, Mr S A M Corner. This is in respect of an unsecured, interest free loan which is currently repayable upon demand, although the Director reserves the right to annually review these terms and conditions.

6	Related party transactions

Summary of transactions with other related parties

Companies under the control of one or both of the directors.
 Monies advanced under unsecured, interest free loans, repayable upon demand.
 

Loans from related parties

2018	Other related parties £
At start of period	62,285

2017	Other related parties £
At start of period	62,285

Page 8