ATL Marine & Energy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08160887 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

ATL MARINE & ENERGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I M Bandres Iglesias

D Cesar Marcos

H O I Dent

J E Ambrose

REGISTERED OFFICE:

4th Floor

145 Leadenhall Street

London

EC3V 4QT

REGISTERED NUMBER:

08160887 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

30,319

35,210

CURRENT ASSETS

Debtors

5

10,613,924

8,544,011

Cash at bank

345,517

449,626

10,959,441

8,993,637

CREDITORS

Amounts falling due within one year

6

10,487,159

8,417,640

NET CURRENT ASSETS

472,282

575,997

TOTAL ASSETS LESS CURRENT LIABILITIES

502,601

611,207

CREDITORS

Amounts falling due after more than one year

7

217,889

351,256

NET ASSETS

284,712

259,951

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

184,712

159,951

SHAREHOLDERS' FUNDS

284,712

259,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

I M Bandres Iglesias - Director

1.	STATUTORY INFORMATION

ATL Marine & Energy 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.

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

-

33.33% straight line and 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Client funds

These are held in protected bank accounts and are shown under cash at bank. The premiums due to insurance

companies are included under trade creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

89,108

Additions

2,689

At 31 March 2019

91,797

DEPRECIATION

At 1 April 2018

53,898

Charge for year

7,580

At 31 March 2019

61,478

NET BOOK VALUE

At 31 March 2019

30,319

At 31 March 2018

35,210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

10,557,227

8,486,506

Other debtors

56,697

57,505

10,613,924

8,544,011

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

48,868

38,411

Trade creditors

10,204,050

8,195,511

Taxation and social security

50,868

61,555

Other creditors

183,373

122,163

10,487,159

8,417,640

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

217,889

351,256

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

144,000

144,000

Between one and five years

576,000

576,000

In more than five years

-

144,000

720,000

864,000

9.	RELATED PARTY DISCLOSURES

At the year end there were interest free directors' loans of £nil (2018: £14,772).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is I M Bandres Iglesias.