Aggmax Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07337758 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Aggmax Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Broadbelt

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

07337758 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

2

105,384

139,258

CURRENT ASSETS

Stocks

294,000

220,000

Debts

Debts factored without recourse

336,489

579,004

Non-returnable deposits

(127,431

)

(368,184

)

209,058

210,820

Debtors

28,896

-

Cash at bank and in hand

3,643

128

535,597

430,948

CREDITORS

Amounts falling due within one year

3

615,518

482,400

NET CURRENT LIABILITIES

(79,921

)

(51,452

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,463

87,806

CREDITORS

Amounts falling due after more than one year

3

18,851

57,446

NET ASSETS

6,612

30,360

CAPITAL AND RESERVES

Called up share capital

4

300

Profit and loss account

6,312

30,060

SHAREHOLDERS' FUNDS

6,612

30,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 September 2016 and were signed by:

M Broadbelt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

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

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

203,433

Additions

2,101

Disposals

(1,500

)

At 31 August 2015

204,034

DEPRECIATION

At 1 September 2014

64,175

Charge for year

35,131

Eliminated on disposal

(656

)

At 31 August 2015

98,650

NET BOOK VALUE

At 31 August 2015

105,384

At 31 August 2014

139,258

3.

CREDITORS

Creditors include an amount of £ 127,431 (31.8.14 - £ 368,184 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

100

Ordinary

£1

100

A

£1

100

B

£1

100

300

5.	RELATED PARTY DISCLOSURES

M Broadbelt

The director, M Broadbelt, is a related party to the company.

During the year ended 31 August 2015, the company paid dividends of £40,000 to M Broadbelt (2014: 46,000).

Aggmax Transport Ltd

A company in which M Broadbelt is a director and shareholder.

In the year ended 31 August 2015 the company made sales of £96,953 to Aggmax Transport Ltd.

At the year ended 31 August 2015 the balance due to Aggmax Transport Ltd from the company was £103,066.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Harrison.