Abbreviated Company Accounts - MAXIMUS GROUP LIMITED

MAXIMUS GROUP LIMITED - Company Information

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Registered Number 04550254

MAXIMUS GROUP LIMITED

Abbreviated Accounts

30 September 2016

MAXIMUS GROUP LIMITED Registered Number 04550254

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	3,505	5,254
Investments	3	502	502
		4,007	5,756
Current assets
Stocks		412,000	300,000
Debtors		430,197	415,396
Cash at bank and in hand		63,222	359,248
		905,419	1,074,644
Creditors: amounts falling due within one year		(310,574)	(309,930)
Net current assets (liabilities)		594,845	764,714
Total assets less current liabilities		598,852	770,470
Creditors: amounts falling due after more than one year		(1,931,844)	(2,176,153)
Total net assets (liabilities)		(1,332,992)	(1,405,683)
Capital and reserves
Called up share capital	4	2,882,284	2,882,284
Profit and loss account		(4,215,276)	(4,287,967)
Shareholders' funds		(1,332,992)	(1,405,683)

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 June 2017

And signed on their behalf by:
Jonathan Hickton, Director

MAXIMUS GROUP LIMITED Registered Number 04550254

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

The financial statements have been prepared on a going concern basis which the directors believe to be appropriate as the Trustees of the majority shareholder, The G J Hickton Discretionary Will Trust, and the beneficiaries of this trust, all of whom are significant creditors of the Company, have pledged to continue with their financial support of the Company for at least twelve months from the date on which these financial statements were signed.

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on reducing balance

Other accounting policies
Stocks
Stocks comprise of development work in progress and properties held for resale. Stocks are stated at the lower of cost and net realisable value. Cost is determined on an actual basis and comprises land, property, materials and attributable overheads. Net realisable value is based on estimated selling prices less further costs anticipated to disposal.

Investments
Investments in subsidiary undertakings are stated at cost less provision for diminution in value.

2Tangible fixed assets

	£
Cost
At 1 October 2015	245,001
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2016	245,001
Depreciation
At 1 October 2015	239,747
Charge for the year	1,749
On disposals	-
At 30 September 2016	241,496
Net book values
At 30 September 2016	3,505
At 30 September 2015	5,254

3Fixed assets Investments
The Company owns 100% of the share capital in Maximus Triangle Limited at a cost of £1. Maximus Triangle Limited is a property development and investment company and had aggregate capital and reserves as at 30th September 2016 of £39,585 (2015: £26,952) and made a profit for the year of £12,633 (2015 - £16,813).

The Company owns 33.33% of the share capital in Maximus Strategic Land Limited at a cost of £500. Maximus Strategic Land Limited is a property development company and had aggregate capital and reserves as at 31st March 2016 of £44,311 (2015: -£44,252) and made a loss for the year of £59 (2015: £71).

The Company owns 100% of the share capital in a dormant company, Maximus Real Estate Limited, at a cost of £1.

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2,882,284 Ordinary shares of £1 each	2,882,284	2,882,284

5Transactions with directors

Name of director receiving advance or credit:	Jonathan Hickton
Description of the transaction:	Loan to the Company
Balance at 1 October 2015:	£ 307,011
Advances or credits made:	-
Advances or credits repaid:	-
Balance at 30 September 2016:	£ 307,011

Name of director receiving advance or credit:	Jonathan Hickton
Description of the transaction:	Loan to Company
Balance at 1 October 2015:	£ 307,011
Advances or credits made:	-
Advances or credits repaid:	-
Balance at 30 September 2016:	£ 307,011

During the year the company was charged £18,540 (2015: £18,540) in respect of consultancy fees from North Oak Homes Ltd, a company owned by Mr J Hickton. At 30 September 2016, the company owed £1,200 (2015: £1,200) to North Oak Homes Ltd.

During the year the company was charged £1,500 (2015: £1,550) in respect of accountancy services from Titanium Accountants Ltd, a company owned by Mr L M Turner. At 30 September 2016, the company owed £150 (2015: £300) to Titanium Accountants Ltd.