Aqua Pacific (UK) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05168645

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014

FOR

AQUA PACIFIC (UK) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr M Winter

Mr D Kong

REGISTERED OFFICE:

E3 The Premier Centre

Abbey Park

Romsey

Hampshire

SO51 9DG

REGISTERED NUMBER:

05168645

ACCOUNTANTS:

TBW Accountancy Limited

E3 The Premier Centre

Abbey Park

Romsey

Hampshire

SO51 9DG

FIXED ASSETS

Tangible assets

2

80,271

85,446

CURRENT ASSETS

Stocks

1,237,088

1,255,643

Debtors

2,027,017

2,195,486

Cash at bank and in hand

42,115

37,558

3,306,220

3,488,687

CREDITORS

Amounts falling due within one year

5,558,422

5,816,026

NET CURRENT LIABILITIES

(2,252,202

)

(2,327,339

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,171,931

)

(2,241,893

)

CAPITAL AND RESERVES

Called up share capital

3

10

10

Profit and loss account

(2,171,941

)

(2,241,903

)

SHAREHOLDERS' FUNDS

(2,171,931

)

(2,241,893

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 February 2015 and were signed on its behalf by:

Mr M Winter - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

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.

Short leasehold

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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.

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.

Leased assets

Assets held under leasing arrangements that transfer substantially all the risks and rewards of

ownership to the Company are capitalised. The capital element of the related rental obligations is

included in creditors. The interest element of the rental obligations is charged to the profit and loss

account so as to produce a periodic rate of charge. Rentals in respect of all other leases are charged

to the profit and loss account as incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

241,330

Additions

8,737

At 30 June 2014

250,067

DEPRECIATION

At 1 July 2013

155,884

Charge for year

13,912

At 30 June 2014

169,796

NET BOOK VALUE

At 30 June 2014

80,271

At 30 June 2013

85,446

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10

Ordinary shares

£1

10

10

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2014 and

30 June 2013:

2014

2013

£

£

Mr M Winter

Balance outstanding at start of year

13,295

13,295

Amounts repaid

-

-

Balance outstanding at end of year

13,295

13,295

5.	ULTIMATE CONTROLLING PARTY

The company is a 90% subsidiary of Kongs (UK) Limited which is owned 100% by Mr D Kong, and as

such the company is under his ultimate control.