Aqualine Marine Limited - Accounts to registrar (filleted) - small 18.2

Aqualine Marine Limited - Accounts to registrar (filleted) - small 18.2

AQUALINE MARINE LIMITED - Company Information

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REGISTERED NUMBER: 04544308 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2018

for

AQUALINE MARINE LIMITED
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)






Contents of the Financial Statements
for the year ended 31 December 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AQUALINE MARINE LIMITED

Company Information
for the year ended 31 December 2018







DIRECTOR: J Corker





REGISTERED OFFICE: Hanbury Wharf
Hanbury Road
Droitwich
Worcestershire
WR9 7DU





REGISTERED NUMBER: 04544308 (England and Wales)





ACCOUNTANTS: Neuhoff & Co
Chartered Accountants
Claydons Barns
11 Towcester Road
Whittlebury
Northamptonshire
NN12 8XU
Page 1
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)

Balance Sheet
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,245 9,808
Investments 5 10,000 10,000
17,245 19,808

CURRENT ASSETS
Stocks 256,827 237,833
Debtors 6 161,731 224,683
Cash at bank 856,813 398,771
1,275,371 861,287
CREDITORS
Amounts falling due within one year 7 737,578 411,722
NET CURRENT ASSETS 537,793 449,565
TOTAL ASSETS LESS CURRENT
LIABILITIES
555,038
469,373

PROVISIONS FOR LIABILITIES 834 1,818
NET ASSETS 554,204 467,555

CAPITAL AND RESERVES
Called up share capital 64,326 64,326
Capital redemption reserve 46,785 46,785
Retained earnings 443,093 356,444
SHAREHOLDERS' FUNDS 554,204 467,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)

Balance Sheet - continued
31 December 2018


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 30 September 2019 and were signed by:





J Corker - Director


The notes form part of these financial statements

Page 3
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)

Notes to the Financial Statements
for the year ended 31 December 2018

1. STATUTORY INFORMATION

Aqualine Marine 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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 etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans
to related third parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 4 continued...
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)

Notes to the Financial Statements - continued
for the year ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018 21,990
Additions 4,500
Disposals (4,500 )
At 31 December 2018 21,990
DEPRECIATION
At 1 January 2018 12,182
Charge for year 2,563
At 31 December 2018 14,745
NET BOOK VALUE
At 31 December 2018 7,245
At 31 December 2017 9,808

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2018
and 31 December 2018 10,000
NET BOOK VALUE
At 31 December 2018 10,000
At 31 December 2017 10,000

Page 5 continued...
AQUALINE MARINE LIMITED (REGISTERED NUMBER: 04544308)

Notes to the Financial Statements - continued
for the year ended 31 December 2018

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aqualine Marine Sp.z o.o.
Registered office: UL. Rakowiec 11 82-200 Malbork Poland
Nature of business: Boat builders
%
Class of shares: holding
Ordinary 100.00
2018 2017
£    £   
Aggregate capital and reserves 363,795 359,307
Profit for the year 10,296 105,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 130,592 97,058
Other debtors 31,139 127,625
161,731 224,683

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 433,113 169,075
Taxation and social security 44,809 3,380
Other creditors 259,656 239,267
737,578 411,722

8. RELATED PARTY DISCLOSURES

During the year the company acquired goods totalling £1,671529 (2017 - £1,688,953) from Aqualine Marine
Sp.z o.o , its wholly owned Polish subsidiary. As at 31 December 2018 the amount due from the company to
Aqualine Marine Sp.z o.o was £234,779 (2017- £Nil). The company did not make any sales of goods or services
to Aqualine Marine Sp z o.o. in the year. As at 31 December 2018 the company was owed the total sum of £Nil
(2017 - £Nil) by its subsidiary.

Page 6