Astral Marine Services Limited - Period Ending 2020-04-30
Astral Marine Services Limited - Period Ending 2020-04-30
Registration number:
for the Year Ended 30 April 2020
Astral Marine Services Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Income Statement |
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Statement of Comprehensive Income |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Astral Marine Services Limited
Company Information
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Directors |
Ms Kristina Lynn Graham Mr Claes Morgan Eliasson Mr Claes Marcus Eliasson |
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Registered office |
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Auditors |
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Astral Marine Services Limited
Strategic Report for the Year Ended 30 April 2020
The directors present their strategic report for the year ended 30 April 2020.
Fair review of the business
The results for the year and financial position of the company are shown in the annexed financial statements.
The company's key financial and other performance indicators during the year were as follows:
|
Unit |
2020 |
2019 |
|
|
Turnover |
£ |
1,049,426 |
1,192,261 |
|
Turnover growth |
% |
(12) |
(1) |
|
Gross profit margin |
% |
71 |
66 |
|
Profit/(loss) before tax |
£ |
72,672 |
75,746 |
The directors are satisfied with the company's results for the year and are confident of maintaining or improving profitability in the forthcoming year.
Principal risks and uncertainties
Covid-19.
The global pandemic has had a unprecedented impact on the company's trading and cash flow since the balance sheet date. In response to this matter and uncertainty the company has made use of the Coronavirus Job Retention Scheme and has received a rates refund. The directors continue to monitor the impact of the pandemic on its ongoing trading and are taking the steps necessary to mitigate the financial impact.
Currency risk
The company does not have the need to utilise and be paid in foreign currency. The company does not currently hedge such foreign currency cash flows and as a consequence is exposed through fluctuations in foreign exchange rates. During the year the company had an overall gain on foreign exchange of £45 (2019: loss of £96) which has been charged to the profit and loss account.
Interest rate risk
The company pays interest on amounts due to other group companies based on market rates which are subject to floating interest rates. It also receives bank interest on deposits held with banks; all based on floating interest rates. The company does not hedge the floating rate and accordingly the company is subject to interest rate risk through fluctuations in base rates.
Approved by the Board on
.........................................
Ms Kristina Lynn Graham
Director
Astral Marine Services Limited
Directors' Report for the Year Ended 30 April 2020
The directors present their report and the financial statements for the year ended 30 April 2020.
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable International Financial Reporting Standards (IFRSs) as adopted by the European Union have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors' of the company
The directors, who held office during the year, were as follows:
Principal activity
The principal activity of the company is that of the sale, service and provision of amusement arcade machines and associated management services.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditors
The auditors,Sterling Grove Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by the Board on
Astral Marine Services Limited
Directors' Report for the Year Ended 30 April 2020
.........................................
Director
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
Opinion
We have audited the financial statements of Astral Marine Services Limited (the 'company') for the year ended 30 April 2020, which comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the European Union.
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 April 2020 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of matter
Material Uncertainty Related to Going Concern
We draw your attention to note 18, non adjusting events after the financial period. The Covid-19 pandemic has been unprecedented in scale and impact on the company. This event and its impact on the business indicates that a material uncertainty exists which may cast significant doubt on the company's ability to continue to act as a going concern. Our opinion is not modified in respect of this matter.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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• |
the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
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• |
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities , the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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• |
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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• |
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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• |
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
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• |
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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• |
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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• |
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Thames House
Bourne End Business Park
Cores End Road
Buckinghamshire
SL8 5AS
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
Astral Marine Services Limited
Income Statement for the Year Ended 30 April 2020
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Note |
2020 |
2019 |
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Revenue |
|
|
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Cost of sales |
( |
( |
|
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Gross profit |
|
|
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Administrative expenses |
( |
( |
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Other (losses)/gains |
( |
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Operating profit |
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Profit before tax |
|
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Income tax expense |
( |
( |
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Profit for the year |
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The above results were derived from continuing operations.
Astral Marine Services Limited
Statement of Comprehensive Income for the Year Ended 30 April 2020
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2020 |
2019 |
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Profit for the year |
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|
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Total comprehensive income for the year |
|
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Astral Marine Services Limited
(Registration number: 03522485)
Statement of Financial Position as at 30 April 2020
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Note |
30 April |
30 April |
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Assets |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Trade and other receivables |
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Cash and cash equivalents |
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Total assets |
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Equity and liabilities |
|||
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Equity |
|||
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Share capital |
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Retained earnings |
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Total equity |
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Non-current liabilities |
|||
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Deferred tax liabilities |
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|
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Current liabilities |
|||
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Trade and other payables |
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Income tax liability |
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||
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Total liabilities |
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Total equity and liabilities |
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Approved by the
.........................................
Director
Astral Marine Services Limited
Statement of Changes in Equity for the Year Ended 30 April 2020
|
Share capital |
Retained earnings |
Total |
|
|
At 1 May 2019 |
|
|
|
|
Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 April 2020 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 May 2018 |
|
|
|
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Profit for the year |
- |
|
|
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Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 April 2019 |
100 |
241,160 |
241,260 |
Astral Marine Services Limited
Statement of Cash Flows for the Year Ended 30 April 2020
|
Note |
2020 |
2019 |
|
|
Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
Loss/(profit) on disposal of property plant and equipment |
|
( |
|
|
Income tax expense |
|
|
|
|
|
|
||
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Working capital adjustments |
|||
|
Decrease/(increase) in trade and other receivables |
|
( |
|
|
Increase/(decrease) in trade and other payables |
|
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
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|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Acquisitions of property plant and equipment |
( |
( |
|
|
Proceeds from sale of property plant and equipment |
|
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Dividends paid |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 May |
137,355 |
105,477 |
|
|
Cash and cash equivalents at 30 April |
323,080 |
137,355 |
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
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General information |
The company is a private company limited by share capital, incorporated and domiciled in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
Accounting policies |
Statement of compliance
The company financial statements have been prepared in accordance with International Financial Reporting Standards and its interpretations adopted by the EU ("adopted IFRS's").
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
The financial statements have been prepared in accordance with adopted IFRSs and under historical cost accounting rules.
The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies.
Going concern
In light of the rapid global spread of Covid-19, the directors have reviewed and stressed tested projections and budgets for the next twelve months. Following this review, the directors consider there to be no significant impact on the company's ability to act as a going concern.
The financial statements have been prepared on a going concern basis.
Changes in accounting policy
None of the standards, interpretations and amendments effective for the first time from 1 May 2019 have had a material effect on the financial statements.
None of the standards, interpretations and amendments which are effective for periods beginning after 1 May 2019 and which have not been adopted early, are expected to have a material effect on the financial statements.
Revenue recognition
Income from the company's principle activities is recognised when the management services it provides are supplied to its customers.
Revenues are stated net of VAT where applicable.
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Government grants
Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.
Foreign currency transactions and balances
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Property, plant and equipment
Property, plant and equipment is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Fixtures, fittings and equipment |
20% on cost |
|
Motor vehicles |
25% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.
Trade receivables
Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade receivables are recognised at the transaction price less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade payables are recognised at the transaction price.
Leases
Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease.
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Share capital
Ordinary shares are classified as equity.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the company’s financial statements in the period in which the dividends are approved by the company’s shareholders.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period in which they relate.
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2020 |
2019 |
|
|
Gain (loss) on disposal of property, plant and equipment |
( |
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2020 |
2019 |
|
|
Depreciation expense |
|
|
|
Loss/(profit) on disposal of property, plant and equipment |
|
( |
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2020 |
2019 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2020 |
2019 |
|
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Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
|
2020 |
2019 |
|
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Remuneration |
|
|
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Contributions paid to money purchase schemes |
|
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During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2020 |
2019 |
|
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Accruing benefits under money purchase pension scheme |
|
|
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Income tax |
Tax charged/(credited) in the income statement
|
2020 |
2019 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
( |
|
|
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of temporary differences |
|
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2019 - the same as the standard rate of corporation tax in the UK) of 19% (2019 - 19%).
The differences are reconciled below:
|
2020 |
2019 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in current tax from adjustment for prior periods |
( |
( |
|
(Decrease)/increase from effect of capital allowances depreciation |
( |
|
|
Increase from effect of expenses not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax expense/(credit) from unrecognised temporary difference from a prior period |
|
( |
|
Other tax effects for reconciliation between accounting profit and tax expense |
|
- |
|
Total tax charge |
|
|
There has been no change in the rate of UK corporation tax in the year.
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
Deferred tax
Deferred tax assets and liabilities
Deferred tax movement during the year:
|
At 1 May 2019 |
Recognised in income |
At |
|
|
Provisions |
|
|
|
Deferred tax movement during the prior year:
|
At 1 May 2018 |
Recognised in income |
At |
|
|
Provisions |
|
( |
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
|
Property, plant and equipment |
|
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||
|
At 1 May 2018 |
|
|
|
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Additions |
|
|
|
|
Disposals |
- |
( |
( |
|
At 30 April 2019 |
|
|
|
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At 1 May 2019 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
- |
( |
( |
|
At 30 April 2020 |
|
|
|
|
Depreciation |
|||
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At 1 May 2018 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
- |
( |
( |
|
At 30 April 2019 |
|
|
|
|
At 1 May 2019 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
( |
|
At 30 April 2020 |
|
|
|
|
Carrying amount |
|||
|
At 30 April 2020 |
|
|
|
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At 30 April 2019 |
|
|
|
|
At 1 May 2018 |
|
|
|
|
Right of use assets |
|
Cost or valuation |
|
Depreciation |
|
Carrying amount |
|
At 30 April 2020 |
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
|
Trade and other receivables |
|
30 April |
30 April |
|
|
Trade receivables |
|
|
|
Loans to related parties |
|
|
|
Accrued income |
|
|
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Prepayments |
|
|
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Other receivables |
|
|
|
|
|
The trade and other receivables classified as financial instruments are disclosed below. The company's exposure to credit and market risks, including maturity analysis, relating to trade and other receivables is disclosed in the financial risk review note.
|
Cash and cash equivalents |
|
30 April |
30 April |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
|
Share capital |
Allotted, called up and fully paid shares
|
30 April |
30 April |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Trade and other payables |
|
30 April |
30 April |
|
|
Trade payables |
|
|
|
Accrued expenses |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
- |
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £26,392 (2019 - £21,274).
|
Dividends |
|
30 April |
30 April |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
40,000 |
10,000 |
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2020
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Related party transactions |
Summary of transactions with other related parties
Astral Maritime Servies Limited
During the year the company provided management services to a fellow group company, Astral Maritime Services Limited, amounting to £1,049,912 (2019: £1,114,496). At the date of the statement of financial position, the amount owed to the company by Astral Maritime Services Limited was £4,549 (2019: £99,756).
Bjuvia Fritid AB
During the year the company sold goods to a fellow group company, Bjuvia Fritid AB, amounting to £13,985 (2019: £73,377) and purchased goods amounting to £nil (2019: £364). At the date of financial position, the amount owed to the company was £5,695 (2019: £33,905).
|
Parent and ultimate parent undertaking |
The company's immediate parent is
|
Non adjusting events after the financial period |
|
|