Martek Industries Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03240952 (England and Wales)

MARTEK INDUSTRIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr A J Paynter

Mrs V A Paynter

Mr S Paynter

SECRETARY:

Mrs V A Paynter

REGISTERED OFFICE:

Unit 12B

Ridings Park Industrial Estate

Eastern Way

Cannock

Staffordshire

WS11 7FJ

REGISTERED NUMBER:

03240952 (England and Wales)

FIXED ASSETS

Tangible assets

2

40,797

48,744

CURRENT ASSETS

Stocks

145,902

79,263

Debtors

112,588

125,334

Cash at bank and in hand

7,745

83

266,235

204,680

CREDITORS

Amounts falling due within one year

3

289,435

247,771

NET CURRENT LIABILITIES

(23,200

)

(43,091

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,597

5,653

CREDITORS

Amounts falling due after more than one year

3

-

(2,595

)

PROVISIONS FOR LIABILITIES

(504

)

(982

)

NET ASSETS

17,093

2,076

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

16,993

1,976

SHAREHOLDERS' FUNDS

17,093

2,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 27 November 2014 and were signed on its behalf by:

Mr A J Paynter - 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).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

138,879

Additions

2,040

At 30 April 2014

140,919

DEPRECIATION

At 1 May 2013

90,135

Charge for year

9,987

At 30 April 2014

100,122

NET BOOK VALUE

At 30 April 2014

40,797

At 30 April 2013

48,744

3.

CREDITORS

Creditors include an amount of £ 98,269 (30.4.13 - £ 131,190 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

100

Ordinary

£1

100

100