Maximus Agency Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07269367 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

FOR

MAXIMUS AGENCY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Kennedy

SECRETARY:

REGISTERED OFFICE:

Ashridge

Fitzroy Park

Highgate

London

N6 6HX

REGISTERED NUMBER:

07269367 (England and Wales)

ACCOUNTANTS:

Anne Conneely & Co

199 Friern Barnet Lane

Whetstone

London N20 0NN

FIXED ASSETS

Tangible assets

4

2

CURRENT ASSETS

Debtors

5

575,590

304,343

Investments

6

20,966

Cash at bank

451,188

258,952

1,047,744

584,261

CREDITORS

Amounts falling due within one year

7

113,436

77,159

NET CURRENT ASSETS

934,308

507,102

TOTAL ASSETS LESS CURRENT
LIABILITIES

934,310

507,104

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

934,309

507,103

SHAREHOLDERS' FUNDS

934,310

507,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 March 2021 and were signed by:

Mr J Kennedy - Director

1.	STATUTORY INFORMATION

Maximus Agency Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Furniture

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

Computer

Furniture

equipment

Totals

£

COST

At 1 July 2019

and 30 June 2020

1,993

707

2,700

DEPRECIATION

At 1 July 2019

and 30 June 2020

1,992

706

2,698

NET BOOK VALUE

At 30 June 2020

1

2

At 30 June 2019

1

2

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

Trade debtors

201,847

132,000

Other debtors

373,743

172,343

575,590

304,343

6.	CURRENT ASSET INVESTMENTS

30.6.20

30.6.19

£

Unlisted investments

15,888

Other

5,078

20,966

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

Trade creditors

-

(1

)

Taxation and social security

111,436

53,200

Other creditors

2,000

23,960

113,436

77,159

8.	RELATED PARTY DISCLOSURES

A loan of £303000 ( 2019 £172343) to Faha Ltd was outstanding at the end of the year. The loan is not a fixed

term loan but no repayments are anticipated in the next twelve months.

During the year Mr. J. Kennedy a director was advanced £69,952 on which interest of £791 was charged at H M

Revenue & Customs official rate of interest. At the end of the year £70,743 was owed to the company.

This was repaid in December 2020.

Maximus Agency Limited - Accounts to registrar (filleted) - small 18.2

Maximus Agency Limited - Accounts to registrar (filleted) - small 18.2