Abbreviated Company Accounts - MAXWELL SYSTEMS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
(a) BASIS OF PREPARATION OF ACCOUNTS:
The accounts/financial statements have been prepared under the historical cost convention and
in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

The directors have considered the company's financial operating requirements for the
forthcoming year and expect the company will have sufficient cash reserves to meet those
requirements and as a result they have adopted the going concern basis of accounting.

Turnover policy
(c) TURNOVER:
Turnover represents net invoiced sales of goods and services, excluding VAT.
Turnover is recognised when the company satisfies its contractual obligations to customers.

Tangible assets depreciation policy
(b) DEPRECIATION/TANGIBLE FIXXED ASSETS:
Depreciation is provided at the following annual rates in order to write off each asset
over its estimated useful life in line with HMRC Allowance rates:
Annual write down allowance - 18 % on straight line basis
First Year Allowance - 50 % on straight line basis

Valuation information and policy
GOING CONCERN
The accounts have been prepared on a going concern basis as the director
would be financing the working capital requirement of the company by advancing loans as
and when required.

Other accounting policies
(e) DEFERRED TAXATION:
Deferred tax us recognised in respect of all timing differences that have originated but
not reversed at the balance sheet date.

f) HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to the profit and loss account on a straight
line basis over the period of the lease.

6Transactions with directors