Maxitile Limited

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Registered number: 06061523

Maxitile Limited

Abbreviated accounts

For The Year Ended 31 March 2014

MK Accounting Services Ltd

15 Chaucer Close

Newport Pagnell

Bucks

MK16 8DN

Maxitile Limited

Company No. 06061523

Abbreviated Balance Sheet 31 March 2014

Abbreviated Balance Sheet

		2014		2013
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	2		245,315		230,684

			245,315		230,684
CURRENT ASSETS
Stocks		25,300		18,800
Debtors		482,502		319,589
Cash at bank and in hand		99,488		82,408

		607,290		420,797
Creditors: Amounts Falling Due Within One Year		(294,309)		(228,756)

NET CURRENT ASSETS (LIABILITIES)			312,981		192,041

TOTAL ASSETS LESS CURRENT LIABILITIES			558,296		422,725

Creditors: Amounts Falling After More Than One Year	3		(133,599)		(120,378)

NET ASSETS			424,697		302,347

CAPITAL AND RESERVES
Called up share capital	4		1,000		1,000
Profit and Loss account			423,697		301,347

SHAREHOLDERS' FUNDS			424,697		302,347

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Maxitile Limited

Company No. 06061523

Abbreviated Balance Sheet (continued) 31 March 2014

For the year ending 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mr Gary Viner

20/10/2014

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Maxitile Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2014

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% Straight Line
Plant & Machinery	25% Written Down Value
Cars - Finance Lease	Over period of lease
Fixtures & Fittings	10% Straight Line
Plant & Equip Fin Lease	Over period of lease

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Maxitile Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2014

Tangible Assets


	Total
Cost	£
As at 1 April 2013	370,946
Additions	66,941

As at 31 March 2014	437,887

Depreciation
As at 1 April 2013	140,262
Provided during the period	52,310

As at 31 March 2014	192,572

Net Book Value
As at 31 March 2014	245,315

As at 1 April 2013	230,684

Creditors: Amounts Falling After More Than One Year

	2014	2013
	£	£
Net obligations under finance lease and hire purchase contracts	30,351	14,302
Bank loans	12,587	12,064
Bank Loans (Long term liabiliities - creditors>5 years)	90,661	94,012

	133,599	120,378

Of the creditors falling due within and after more than one year the following amounts are due after more than five years.

	2014		2013
	£		£
Bank loans and overdrafts	90660		94012

Share Capital

	Value	Number	2014	2013
Allotted, called up and fully paid:	£		£	£
Ordinary shares	1.000	1000	1,000	1,000

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Maxitile Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2014

Transactions With and Loans to Directors

Included within Debtors are the following loans to directors:

	As at 1 April 2013	Amounts advanced	Amounts repaid	As at 31 March 2014
	£	£	£	£
Mr Gary Viner	-	20,000	-	20,000

The above loan will be repaid by 31st December 2014

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