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MAXIBAR LIMITED




Company Registration Number:
05742179 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st April 2014

End date: 31st March 2015

SUBMITTED

MAXIBAR LIMITED

Company Information
for the Period Ended
31st March 2015




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 LIMITED

Abbreviated Balance sheet
As at 31st March 2015

Notes 2015
£
2014
£
Fixed assets
Tangible assets: 5 48,279 54,016
Total fixed assets: 48,279 54,016
Current assets
Stocks: 38,225 5,000
Debtors: 7 101,356 70,140
Total current assets: 139,581 75,140
Creditors
Creditors: amounts falling due within one year 8 306,373 291,099
Net current assets (liabilities): ( 166,792 ) ( 215,959 )
Total assets less current liabilities: ( 118,513 ) ( 161,943 )
Provision for liabilities: 9 9,656 10,618
Total net assets (liabilities): ( 128,169 ) ( 172,561 )

The notes form part of these financial statements

MAXIBAR LIMITED

Abbreviated Balance sheet
As at 31st March 2015
continued

Notes 2015
£
2014
£
Capital and reserves
Called up share capital: 10 100 100
Profit and Loss account: ( 128,269 ) ( 172,661 )
Total shareholders funds: ( 128,169 ) ( 172,561 )

For the year ending 31 March 2015 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 17 February 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: M Harding
Status: Director

The notes form part of these financial statements

MAXIBAR LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2015

  • 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 - 25% 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. Stock: Stock is stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. Going concern: The company is currently insolvent. However the directors have prepared the accounts on the going concern basis as a result of the continuing support of the directors and creditors as its justification.

MAXIBAR LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2015

  • 5. Tangible assets

    Total
    Cost £
    At 01st April 2014: 115,240
    Additions: 6,482
    Disposals: 2,649
    At 31st March 2015: 119,073
    Depreciation
    At 01st April 2014: 61,224
    Charge for year: 9,967
    On disposals: 397
    At 31st March 2015: 70,794
    Net book value
    At 31st March 2015: 48,279
    At 31st March 2014: 54,016

MAXIBAR LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2015

  • 7. Debtors

    Included in Debtors is an amount of £7,872 (2014 - £nil) owed by the director, J Bell.

MAXIBAR LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2015

  • 8. Creditors: amounts falling due within one year

    2015
    £
    2014
    £
    Bank loans and overdrafts: 16,697 26,075
    Trade creditors: 33,265 36,188
    Taxation and social security: 26,215 17,454
    Other creditors: 230,196 211,382
    Total: 306,373 291,099

    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. Also included in Other creditors is an amount of £30,196 (2014 - £11,382) owed to the director, M Harding.

MAXIBAR LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2015

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100