Mapix Technologies Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC167731 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 29th February 2016

for

Mapix Technologies Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr G. J. Riemersma

Ms E L Thomas

SECRETARY:

None Appointed

REGISTERED OFFICE:

54 Timber Bush

Edinburgh

Midlothian

EH6 6QH

REGISTERED NUMBER:

SC167731 (Scotland)

ACCOUNTANTS:

Taylor McIntyre Limited

15 East Cromwell Street

Edinburgh

Midlothian

EH6 6HD

FIXED ASSETS

Tangible assets

2

46,854

33,644

Investments

3

30,000

-

76,854

33,644

CURRENT ASSETS

Stocks

133,649

47,160

Debtors

108,748

110,543

Cash at bank and in hand

25,461

37,570

267,858

195,273

CREDITORS

Amounts falling due within one year

4

281,999

100,589

NET CURRENT (LIABILITIES)/ASSETS

(14,141

)

94,684

TOTAL ASSETS LESS CURRENT
LIABILITIES

62,713

128,328

CREDITORS

Amounts falling due after more than one
year

23,853

-

NET ASSETS

38,860

128,328

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

38,760

128,228

SHAREHOLDERS' FUNDS

38,860

128,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 22nd November 2016 and were signed on its
behalf by:

Mr G. J. Riemersma - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

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.

Motor vehicles

-

25% on reducing balance

Equipment and Fittings

-

15% 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 timing differences that have originated but not reversed at the balance

sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

Grants

The company undertakes various trading projects where it receives grants. These grants are accounted for in the

profit and loss as they are received and no part is deferred or accrued. This policy is applied across all income

grants received.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st March 2015

61,786

Additions

18,645

At 29th February 2016

80,431

DEPRECIATION

At 1st March 2015

28,142

Charge for year

5,435

At 29th February 2016

33,577

NET BOOK VALUE

At 29th February 2016

46,854

At 28th February 2015

33,644

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

30,000

At 29th February 2016

30,000

NET BOOK VALUE

At 29th February 2016

30,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Trackplot Limited

Nature of business:

%

Class of shares:

holding

Ordinary

75.00

31.3.15

31.3.14

£

Aggregate capital and reserves

(99,125

)

(63,211

)

(Loss)/profit for the year

(35,915

)

8,026

4.

CREDITORS

Creditors include an amount of £ 27,217 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

100

Ordinary

1.00

100