Abbreviated Company Accounts - ULTRAMAX PRODUCTS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the period and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties - Straight line over the life of the lease
Plant and machinery - 15% straight line
Fixtures, fittings and equipment - 33.3% straight line
Motor vehicles - 25% straight line
Website - Straight line over 3 years

Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Intangible assets amortisation policy
Patents are valued at cost less accumulated amortisation.
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful
life of 5 years.

Valuation information and policy
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Other accounting policies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the
obligation to prepare group accounts.

4Fixed assets Investments
Subsidiary undertaking £1 (£1 during 2013).
Holdings of 20% or more

The company holds 20% or more of the share capital of the following companies:
Company Country of registration Nature of business Shares held class %

DX Products Ltd England & Wales Manufacturing Ordinary 100%
UM Products Limited England & Wales Retail & Wholesale Ordinary 100%
Vaxaid Ltd England & Wales Retail & Wholesale Ordinary 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital & Reserves Profit for the Year
DX Products Ltd £63,775 £373,727
UM Products Limited £3,752 £35,982
Vaxaid Ltd £1,180 £7,677

The company owns 100% of the issued share capital (being 1 ordinary share of £1 each) of DX Products Ltd, which in turn own 100% of the issued shares of UM Products Ltd and Vaxaid Ltd both having 1 issued share capital of £1 each.

6Transactions with directors

During the period the company paid dividends of £18,900 (£33,075 during 2013) to the director.