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MAXIBAR LTD




Company Registration Number:
05742179 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st April 2013

End date: 31st March 2014

SUBMITTED

MAXIBAR LTD

Company Information
for the Period Ended
31st March 2014




Director: M Harding
J Bell
Registered office: JMB ACCOUNTING LTD
10 LONDON ROAD
LIPHOOK
Hampshire
GU30 7AN
Company Registration Number: 05742179 (England and Wales)

MAXIBAR LTD

Abbreviated Balance sheet
As at 31st March 2014

Notes 2014
£
2013
£
Fixed assets
Tangible assets: 6 54,016 40,636
Total fixed assets: 54,016 40,636
Current assets
Stocks: 5,000 2,000
Debtors: 7 70,140 40,643
Cash at bank and in hand: - 9,445
Total current assets: 75,140 52,088
Creditors
Creditors: amounts falling due within one year 8 291,099 258,722
Net current assets (liabilities): ( 215,959 ) ( 206,634 )
Total assets less current liabilities: ( 161,943 ) ( 165,998 )
Provision for liabilities: 9 10,618 7,902
Total net assets (liabilities): ( 172,561 ) ( 173,900 )

The notes form part of these financial statements

MAXIBAR LTD

Abbreviated Balance sheet
As at 31st March 2014
continued

Notes 2014
£
2013
£
Capital and reserves
Called up share capital: 10 100 100
Profit and Loss account: ( 172,661 ) ( 174,000 )
Total shareholders funds: ( 172,561 ) ( 173,900 )

For the year ending 31 March 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 29 January 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: M Harding
Status: Director

The notes form part of these financial statements

MAXIBAR LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention and are in accordance with applicable accounting standards. The accounts include the results of the company's operations as indicated in the directors' report, all of which are continuing.

    Turnover policy

    Turnover represents amounts receivable for goods and services provided in the UK less value added tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows: Plant and machinery - 15% per annum reducing balance Motor vehicles - 25% per annum reducing balance Fixtures and fittings - 15% per annum reducing balance Office equipment - 33.3% per annum straight line

    Other accounting policies

    Taxation: Current tax is measured on expected amounts to be paid based on tax rates enacted or substantively enacted by the balance sheet date.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that the company anticipates making sufficient taxable profits in the future to absorb the reversal of the underlying timing differences. Deferred tax balances are not discounted. Going concern: The company is currently insolvent. However the director has prepared the accounts on the going concern basis as a result of the continuing support of the director and creditors as its justification.

MAXIBAR LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014

  • 6. Tangible assets

    Total
    Cost £
    At 01st April 2013: 82,340
    Additions: 32,900
    At 31st March 2014: 115,240
    Depreciation
    At 01st April 2013: 41,704
    Charge for year: 19,520
    At 31st March 2014: 61,224
    Net book value
    At 31st March 2014: 54,016
    At 31st March 2013: 40,636

MAXIBAR LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014

  • 7. Debtors

    2014
    £
    2013
    £
    Trade debtors: 29,592 523
    Other debtors: 40,000 40,000
    Prepayments and accrued income: 548 120
    Total: 70,140 40,643

MAXIBAR LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014

  • 8. Creditors: amounts falling due within one year

    2014
    £
    2013
    £
    Bank loans and overdrafts: 26,075 -
    Trade creditors: 36,188 27,844
    Taxation and social security: 17,454 7,550
    Other creditors: 211,382 223,328
    Total: 291,099 258,722

    Included in Other creditors is a loan of £200,000 from the director, M Harding, which has no fixed repayment schedule and interest has been waived to the balance sheet date with no indication at the date of signing of these financial statements that the position has changed, although Mr Harding reserves the right to charge interest in the future should the company's financial position be such as to support interest payments.

MAXIBAR LTD

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100