Moray Firth Marine Surveys Ltd. - Accounts to registrar (filleted) - small 18.2
Moray Firth Marine Surveys Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 February 2020 |
| for |
| Moray Firth Marine Surveys Ltd. |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Contents of the Financial Statements |
| for the Year Ended 29 February 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Moray Firth Marine Surveys Ltd. |
| Company Information |
| for the Year Ended 29 February 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| 9 Carmelite Street |
| Banff |
| Aberdeenshire |
| AB45 1AF |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Balance Sheet |
| 29 February 2020 |
| 29.2.20 | 28.2.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Balance Sheet - continued |
| 29 February 2020 |
| 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 Board of Directors and authorised for issue on |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Notes to the Financial Statements |
| for the Year Ended 29 February 2020 |
| 1. | STATUTORY INFORMATION |
| Moray Firth Marine Surveys Ltd. is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 March 2019 |
| Additions |
| At 29 February 2020 |
| DEPRECIATION |
| At 1 March 2019 |
| Charge for year |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2019 |
| Additions |
| At 29 February 2020 |
| DEPRECIATION |
| At 1 March 2019 |
| Charge for year |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 March 2019 |
| and 29 February 2020 |
| DEPRECIATION |
| At 1 March 2019 |
| Charge for year |
| At 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| 5. | STOCKS |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| VAT | 17,786 | 11,499 |
| Other creditors |
| Directors' current accounts | 1,076 | 1,772 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Hire purchase contracts |
| Moray Firth Marine Surveys Ltd. (Registered number: SC388070) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 9. | PROVISIONS FOR LIABILITIES |
| 29.2.20 | 28.2.19 |
| £ | £ |
| Deferred tax | 4,446 | 5,920 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2019 |
| Provided during year | ( |
) |
| Balance at 29 February 2020 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr & Mrs Oakes. |