Maxem Glazing Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07242708 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Maxem Glazing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Andrews

M Harbord

REGISTERED OFFICE:

7 Whitegates

Flaxpits Lane

Winterbourne

Bristol

BS36 1JX

REGISTERED NUMBER:

07242708 (England and Wales)

ACCOUNTANTS:

R A Leslie & Co. LLP

Chartered Accountants

Gowran House

56 Broad Street

Chipping Sodbury

Bristol

BS37 6AG

FIXED ASSETS

Intangible assets

4

5,334

6,334

Tangible assets

5

10,959

12,893

16,293

19,227

CURRENT ASSETS

Stocks

6

526

72

Debtors

7

10,590

10,142

Cash at bank and in hand

15,952

15,492

27,068

25,706

CREDITORS

Amounts falling due within one year

8

42,384

43,973

NET CURRENT LIABILITIES

(15,316

)

(18,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

977

960

CAPITAL AND RESERVES

Called up share capital

204

204

Retained earnings

9

773

756

SHAREHOLDERS' FUNDS

977

960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 November 2017 and were signed on its behalf by:

M Andrews - Director

1.	STATUTORY INFORMATION

Maxem Glazing Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Office equipment

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

10,000

AMORTISATION

At 1 April 2016

3,666

Charge for year

1,000

At 31 March 2017

4,666

NET BOOK VALUE

At 31 March 2017

5,334

At 31 March 2016

6,334

5.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

21,693

1,246

22,939

DEPRECIATION

At 1 April 2016

9,137

909

10,046

Charge for year

1,883

51

1,934

At 31 March 2017

11,020

960

11,980

NET BOOK VALUE

At 31 March 2017

10,673

286

10,959

At 31 March 2016

12,556

337

12,893

6.

STOCKS

31.3.17

31.3.16

£

£

Stock and work in progress

526

72

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

10,590

10,142

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

23,381

25,288

Corporation tax

4,600

4,186

Social security and other taxes

493

239

VAT

1,927

2,379

Directors' loan accounts

11,983

11,881

42,384

43,973

9.

RESERVES

Retained

earnings

£

At 1 April 2016

756

Profit for the year

15,467

Dividends

(15,450

)

At 31 March 2017

773