Maximus Group Limited

MAXIMUS GROUP LIMITED - Company Information

2020-10-012021-09-302021-09-30false04550254Maximus Group Limited2022-06-27iso4217:GBPxbrli:pure045502542020-10-01045502542021-09-30045502542020-10-012021-09-30045502542019-10-01045502542020-09-30045502542019-10-012020-09-3004550254bus:SmallEntities2020-10-012021-09-3004550254bus:AuditExempt-NoAccountantsReport2020-10-012021-09-3004550254bus:FullAccounts2020-10-012021-09-3004550254bus:PrivateLimitedCompanyLtd2020-10-012021-09-3004550254core:WithinOneYear2021-09-3004550254core:AfterOneYear2021-09-3004550254core:WithinOneYear2020-09-3004550254core:AfterOneYear2020-09-3004550254core:ShareCapital2021-09-3004550254core:SharePremium2021-09-3004550254core:RevaluationReserve2021-09-3004550254core:OtherReservesSubtotal2021-09-3004550254core:RetainedEarningsAccumulatedLosses2021-09-3004550254core:ShareCapital2020-09-3004550254core:SharePremium2020-09-3004550254core:RevaluationReserve2020-09-3004550254core:OtherReservesSubtotal2020-09-3004550254core:RetainedEarningsAccumulatedLosses2020-09-3004550254core:LandBuildings2021-09-3004550254core:PlantMachinery2021-09-3004550254core:Vehicles2021-09-3004550254core:FurnitureFittings2021-09-3004550254core:OfficeEquipment2021-09-3004550254core:NetGoodwill2021-09-3004550254core:IntangibleAssetsOtherThanGoodwill2021-09-3004550254core:ListedExchangeTraded2021-09-3004550254core:UnlistedNon-exchangeTraded2021-09-3004550254core:LandBuildings2020-09-3004550254core:PlantMachinery2020-09-3004550254core:Vehicles2020-09-3004550254core:FurnitureFittings2020-09-3004550254core:OfficeEquipment2020-09-3004550254core:NetGoodwill2020-09-3004550254core:IntangibleAssetsOtherThanGoodwill2020-09-3004550254core:ListedExchangeTraded2020-09-3004550254core:UnlistedNon-exchangeTraded2020-09-3004550254core:LandBuildings2020-10-012021-09-3004550254core:PlantMachinery2020-10-012021-09-3004550254core:Vehicles2020-10-012021-09-3004550254core:FurnitureFittings2020-10-012021-09-3004550254core:OfficeEquipment2020-10-012021-09-3004550254core:NetGoodwill2020-10-012021-09-3004550254core:IntangibleAssetsOtherThanGoodwill2020-10-012021-09-3004550254core:ListedExchangeTraded2020-10-012021-09-3004550254core:UnlistedNon-exchangeTraded2020-10-012021-09-3004550254core:MoreThanFiveYears2020-10-012021-09-3004550254core:Non-currentFinancialInstruments2021-09-3004550254core:Non-currentFinancialInstruments2020-09-3004550254dpl:CostSales2020-10-012021-09-3004550254dpl:DistributionCosts2020-10-012021-09-3004550254dpl:AdministrativeExpenses2020-10-012021-09-3004550254core:LandBuildings2020-10-012021-09-3004550254core:PlantMachinery2020-10-012021-09-3004550254core:Vehicles2020-10-012021-09-3004550254core:FurnitureFittings2020-10-012021-09-3004550254core:OfficeEquipment2020-10-012021-09-3004550254core:NetGoodwill2020-10-012021-09-3004550254core:IntangibleAssetsOtherThanGoodwill2020-10-012021-09-3004550254dpl:GroupUndertakings2020-10-012021-09-3004550254dpl:ParticipatingInterests2020-10-012021-09-3004550254dpl:GroupUndertakingscore:ListedExchangeTraded2020-10-012021-09-3004550254core:ListedExchangeTraded2020-10-012021-09-3004550254dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-10-012021-09-3004550254core:UnlistedNon-exchangeTraded2020-10-012021-09-3004550254dpl:CostSales2019-10-012020-09-3004550254dpl:DistributionCosts2019-10-012020-09-3004550254dpl:AdministrativeExpenses2019-10-012020-09-3004550254core:LandBuildings2019-10-012020-09-3004550254core:PlantMachinery2019-10-012020-09-3004550254core:Vehicles2019-10-012020-09-3004550254core:FurnitureFittings2019-10-012020-09-3004550254core:OfficeEquipment2019-10-012020-09-3004550254core:NetGoodwill2019-10-012020-09-3004550254core:IntangibleAssetsOtherThanGoodwill2019-10-012020-09-3004550254dpl:GroupUndertakings2019-10-012020-09-3004550254dpl:ParticipatingInterests2019-10-012020-09-3004550254dpl:GroupUndertakingscore:ListedExchangeTraded2019-10-012020-09-3004550254core:ListedExchangeTraded2019-10-012020-09-3004550254dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-10-012020-09-3004550254core:UnlistedNon-exchangeTraded2019-10-012020-09-3004550254core:NetGoodwill2021-09-3004550254core:IntangibleAssetsOtherThanGoodwill2021-09-3004550254core:LandBuildings2021-09-3004550254core:PlantMachinery2021-09-3004550254core:Vehicles2021-09-3004550254core:FurnitureFittings2021-09-3004550254core:OfficeEquipment2021-09-3004550254core:AfterOneYear2021-09-3004550254core:WithinOneYear2021-09-3004550254core:ListedExchangeTraded2021-09-3004550254core:UnlistedNon-exchangeTraded2021-09-3004550254core:ShareCapital2021-09-3004550254core:SharePremium2021-09-3004550254core:RevaluationReserve2021-09-3004550254core:OtherReservesSubtotal2021-09-3004550254core:RetainedEarningsAccumulatedLosses2021-09-3004550254core:NetGoodwill2020-09-3004550254core:IntangibleAssetsOtherThanGoodwill2020-09-3004550254core:LandBuildings2020-09-3004550254core:PlantMachinery2020-09-3004550254core:Vehicles2020-09-3004550254core:FurnitureFittings2020-09-3004550254core:OfficeEquipment2020-09-3004550254core:AfterOneYear2020-09-3004550254core:WithinOneYear2020-09-3004550254core:ListedExch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Registered Number
04550254
(England and Wales)

Unaudited Financial Statements for the Year Ended
30 September 2021

Maximus Group Limited

Company Information
for the year from 1 October 2020 to 30 September 2021


Directors	Jonathan Hickton
	Annabel Passey


Registered Address	The Estate Office, Thorngrove
	Sinton Green
	Worcester
	WR2 6NP


Registered Number	04550254 (England and Wales)

Maximus Group Limited

Balance Sheet as at
30 September 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	7		469		699
Investments	8		103		103
			572		802
Current assets
Stocks	10	428,741		428,741
Debtors	11	509,479		510,899
Cash at bank and on hand		2,325		1,889
		940,545		941,529
Creditors amounts falling due within one year	12	(148)		(24,723)
Net current assets (liabilities)			940,397		916,806
Total assets less current liabilities			940,969		917,608
Creditors amounts falling due after one year	13		(2,266,834)		(2,233,250)
Net assets			(1,325,865)		(1,315,642)
Capital and reserves
Called up share capital			2,882,284		2,882,284
Profit and loss account			(4,208,149)		(4,197,926)
Shareholders' funds			(1,325,865)		(1,315,642)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 27 June 2022, and are signed on its behalf by:

Jonathan Hickton
Director
Registered Company No. 04550254

Maximus Group Limited

Notes to the Financial Statements
for the year ended 30 September 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	PRINCIPAL ACTIVITIES
	The principal activity of the company is that of property development and the holding company of a property development group.

4.	BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

5.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	33
	Fixtures and fittings	33
	Office Equipment	33

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Going concern
	The financial statements have been prepared on a going concern basis which the directors believe to be appropriate as the Trustees of the majority shareholder, The G J Hickton Discretionary Will Trust, and the beneficiaries of this trust, all of whom are significant creditors of the Company, have pledged to continue with their financial support of the Company for at least twelve months from the date on which these financial statements are signed. The Directors have also given due consideration to the potential impact of the Covid-19 pandemic and are of the opinion that neither the Company's ability to trade nor the value of its assets will be significantly impaired.

Going concern

The financial statements have been prepared on a going concern basis which the directors believe to be appropriate as the Trustees of the majority shareholder, The G J Hickton Discretionary Will Trust, and the beneficiaries of this trust, all of whom are significant creditors of the Company, have pledged to continue with their financial support of the Company for at least twelve months from the date on which these financial statements are signed. The Directors have also given due consideration to the potential impact of the Covid-19 pandemic and are of the opinion that neither the Company's ability to trade nor the value of its assets will be significantly impaired.

6.	EMPLOYEE INFORMATION


		2021		2020
	Average number of employees during the year	2		2

7.	PROPERTY, PLANT AND EQUIPMENT

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 October 20	130,580	43,850	70,571	245,001
At 30 September 21	130,580	43,850	70,571	245,001
Depreciation and impairment
At 01 October 20	130,015	43,809	70,478	244,302
Charge for year	186	14	30	230
At 30 September 21	130,201	43,823	70,508	244,532
Net book value
At 30 September 21	379	27	63	469
At 30 September 20	565	41	93	699

8.	FIXED ASSET INVESTMENTS
	Subsidiary undertakings Maximus Triangle Limited - 100% subsidiary - the principal activity of Maximus Triangle Limited is serviced office provider. Associates Maximus Strategic Land Limited - 6% shareholding - the principal activity of Maximus Strategic Land Limited is property development

	Investments in group undertakings and participating interests	Total
	£	£
Cost or valuation
At 01 October 20	103	103
At 30 September 21	103	103
Net book value
At 30 September 21	103	103
At 30 September 20	103	103

9.	DESCRIPTION OF NATURE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES
	The Company has made loans to an associated Company amounting to £273,271 (2020: £273,271). The monies advanced are repayable upon demand and have been granted on an unsecured, interest free basis. The Company has made loans to Trust in which both the directors are beneficiaries, amounting to £9,000 (2020: £9,000). The monies advanced are repayable upon demand and have been granted on an unsecured, interest free basis. The Company has made loans to a partnership in which the Directors have an interest, amounting to £222,631 (2020: £222,631). The loans have been made on an unsecured, interest free basis with no repayment to be made within 12 months of the year end. A Group Company has made loans to the Company totalling £0 (2020: £16,000). All monies advanced by the Group Company are on an unsecured, interest free basis. The Directors have made loans to the Company totalling £638,848 (2020: £638,848). All monies advanced by the Directors are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year. The Company has received various loans from Trusts, and Beneficiaries of those Trusts totalling £1,594,402 (2020: £1,594,402). All monies advanced by the these related parties are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year. The Company has received a loan from a Company with a common director totalling £33,584 (2020: £0). All monies advanced by this Company are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year.

DESCRIPTION OF NATURE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES

The Company has made loans to an associated Company amounting to £273,271 (2020: £273,271).  The monies advanced are repayable upon demand and have been granted on an unsecured, interest free basis.

The Company has made loans to Trust in which both the directors are beneficiaries, amounting to £9,000 (2020: £9,000).  The monies advanced are repayable upon demand and have been granted on an unsecured, interest free basis.

The Company has made loans to a partnership in which the Directors have an interest, amounting to £222,631 (2020: £222,631).  The loans have been made on an unsecured, interest free basis with no repayment to be made within 12 months of the year end.

A Group Company has made loans to the Company totalling £0 (2020: £16,000).  All monies advanced by the Group Company are on an unsecured, interest free basis. 

The Directors have made loans to the Company totalling £638,848 (2020: £638,848).  All monies advanced by the Directors are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year.

The Company has received various loans from Trusts, and Beneficiaries of those Trusts totalling £1,594,402 (2020: £1,594,402).  All monies advanced by the these related parties are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year.

The Company has received a loan from a Company with a common director totalling £33,584 (2020: £0).  All monies advanced by this Company are on an unsecured, interest free basis. No repayment is expected to be made within twelve months and therefore the balance has been shown in Creditors due after more than one year.

10.	STOCKS

	2021	2020
	£	£
Work in progress	428,741	428,741
Total	428,741	428,741

11.	DEBTORS

	2021	2020
	£	£
Amounts owed by group undertakings	273,271	273,271
Amounts owed by associates and joint ventures / participating interests	9,000	9,000
Other debtors	4,577	5,997
Amounts owed by associates and joint ventures / participating interests (Non-current)	222,631	222,631
Total	509,479	510,899


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Debtors include an amount of £222,631 (2020: £222,631) receivable after more than one year, of which all relates to amounts owed by undertakings in which the company has a participating interest.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Debtors include an amount of £222,631 (2020: £222,631) receivable after more than one year, of which all relates to amounts owed by undertakings in which the company has a participating interest.

12.	CREDITORS WITHIN ONE YEAR

	2021	2020
	£	£
Trade creditors / trade payables	148	8,723
Amounts owed to related parties	-	16,000
Total	148	24,723


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

13.	CREDITORS AFTER ONE YEAR

	2021	2020
	£	£
Amounts owed to related parties	2,266,834	2,233,250
Total	2,266,834	2,233,250


	See related party transactions note for further details.