MAXIFLO_TECHNOLOGIES_LIMI - Accounts

MAXIMATOR MAXIMUM PRESSURE LTD - Company Information

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Company Registration No. 04437941 (England and Wales)

MAXIFLO TECHNOLOGIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2014

MAXIFLO TECHNOLOGIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MAXIFLO TECHNOLOGIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

15,736

16,169

Current assets

Stocks

47,676

8,410

Debtors

226,400

280,896

Cash at bank and in hand

1,022,361

515,502

1,296,437

804,808

Creditors: amounts falling due within one year

(508,003)

(401,411)

Net current assets

788,434

403,397

Total assets less current liabilities

804,170

419,566

Provisions for liabilities

(3,146)

(3,280)

801,024

416,286

Capital and reserves

Called up share capital

100

Profit and loss account

800,924

416,186

Shareholders' funds

801,024

416,286

For the financial year ended 30 October 2014 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 year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 March 2015

Mr Henry Mason

Director

Company Registration No. 04437941

MAXIFLO TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 OCTOBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% reducing balance

Computer equipment

33% straight line

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing and hire purchase commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MAXIFLO TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 OCTOBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 31 October 2013

33,697

Additions

3,979

Disposals

(187)

At 30 October 2014

37,489

Depreciation

At 31 October 2013

17,529

On disposals

(148)

Charge for the year

4,372

At 30 October 2014

21,753

Net book value

At 30 October 2014

15,736

At 30 October 2013

16,169

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100