Astek Marine & Offshore Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC399777 (Scotland)

Financial Statements

for the Year Ended 31 March 2020

for

Astek Marine & Offshore Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Johnson

A F Steele

REGISTERED OFFICE:

North Hilton Stables

Netherley

Stonehaven

AB39 3QL

REGISTERED NUMBER:

SC399777 (Scotland)

ACCOUNTANTS:

MMG Archbold Ltd

Chartered Accountants

182 High Street

Montrose

ANGUS

DD10 8PH

FIXED ASSETS

Tangible assets

4

1,074

1,432

CURRENT ASSETS

Debtors

5

-

1,277

Cash at bank

25,438

5,824

25,438

7,101

CREDITORS

Amounts falling due within one year

6

12,716

8,155

NET CURRENT ASSETS/(LIABILITIES)

12,722

(1,054

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,796

378

PROVISIONS FOR LIABILITIES

204

272

NET ASSETS

13,592

106

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,492

6

SHAREHOLDERS' FUNDS

13,592

106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 30 November 2020 and were signed on its behalf by:

A F Steele - Director

S C Johnson - Director

1.	STATUTORY INFORMATION

Astek Marine & Offshore Limited is a private company, limited by shares , registered in Scotland. 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.

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in

preparing the annual financial statements.

Turnover

Turnover and profit on ordinary activities before taxation are attributable to marine engineering.

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 reducing balance

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue

is recognised as contract activity progresses to reflect the partial performance of our contractual obligations.

The amount of revenue included reflects of the accrual of the right to consideration as contract activity

progresses by reference to value of the work performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

3,702

DEPRECIATION

At 1 April 2019

2,270

Charge for year

358

At 31 March 2020

2,628

NET BOOK VALUE

At 31 March 2020

1,074

At 31 March 2019

1,432

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

-

1,277

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

10,737

7,579

Other creditors

1,979

576

12,716

8,155

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and

31 March 2019:

2020

2019

£

£

A F Steele

Balance outstanding at start of year

1,277

174

Amounts advanced

29

2,128

Amounts repaid

(1,774

)

(1,025

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(468

)

1,277

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are A Steele and S Johnson.