Mapix Technologies Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC167731 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 28th February 2014

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

18,539

17,463

CURRENT ASSETS

Stocks

14,447

3,026

Debtors

135,425

93,756

Cash at bank and in hand

37,736

36,011

187,608

132,793

CREDITORS

Amounts falling due within one year

97,712

50,715

NET CURRENT ASSETS

89,896

82,078

TOTAL ASSETS LESS CURRENT LIABILITIES

108,435

99,541

PROVISIONS FOR LIABILITIES

-

3,161

NET ASSETS

108,435

96,380

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

108,335

96,280

SHAREHOLDERS' FUNDS

108,435

96,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2014 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 12th November 2014 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 April 2008).

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.

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st March 2013

44,116

Additions

11,960

Disposals

(12,175

)

At 28th February 2014

43,901

DEPRECIATION

At 1st March 2013

26,653

Charge for year

2,087

Eliminated on disposal

(3,378

)

At 28th February 2014

25,362

NET BOOK VALUE

At 28th February 2014

18,539

At 28th February 2013

17,463

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

100

Ordinary

1.00

100

100