Palmers Marine Services Limited - Limited company - abbreviated - 11.6

Palmers Marine Services Limited - Limited company - abbreviated - 11.6

PALMERS MARINE SERVICES LIMITED - Company Information

Print Friendly Version

06982163 1.9.13 31.8.14 31.8.14 Company accounts Private Limited Company FY true false true false false true false Ordinary 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure069821632013-08-31069821632014-08-31069821632013-09-012014-08-31069821632012-08-31069821632012-09-012013-08-31069821632013-08-3106982163ns12:England2013-09-012014-08-3106982163ns14:PoundSterling2013-09-012014-08-3106982163ns7:Director12013-09-012014-08-3106982163ns7:OrdinaryShareClass12013-09-012014-08-3106982163ns7:Director22013-09-012014-08-3106982163ns7:CompanySecretary2013-09-012014-08-3106982163ns7:RegisteredOffice2013-09-012014-08-3106982163ns7:EntityAccountantsOrAuditors2013-09-012014-08-3106982163ns5:PlantMachinery2013-09-012014-08-3106982163ns5:MotorVehicles2013-09-012014-08-3106982163ns7:OrdinaryShareClass12014-08-3106982163ns7:OrdinaryShareClass12013-08-31
REGISTERED NUMBER: 06982163 (England and Wales)















Abbreviated Unaudited Accounts

for the Year Ended 31 August 2014

for

Palmers Marine Services Limited

Palmers Marine Services Limited (Registered number: 06982163)






Contents of the Abbreviated Accounts
for the Year Ended 31 August 2014




Page

Company Information 1

Chartered Accountants' Report 2

Abbreviated Balance Sheet 3 to 4

Notes to the Abbreviated Accounts 5 to 6

Palmers Marine Services Limited

Company Information
for the Year Ended 31 August 2014







DIRECTORS: R Goatham
A Goatham





SECRETARY: A Goatham





REGISTERED OFFICE: 5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD





REGISTERED NUMBER: 06982163 (England and Wales)





ACCOUNTANTS: Charcroft Baker LLP
Chartered Accountants
5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD
1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Palmers Marine Services Limited

The following reproduces the text of the report prepared for the directors in respect of the company's
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on
pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval
the financial statements of Palmers Marine Services Limited for the year ended 31 August 2014 which
comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's
accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Palmers Marine Services Limited, as a body, in accordance with the terms of our engagement letter dated 19 May 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Palmers Marine Services Limited and state those matters that we have agreed to state to the Board of Directors of Palmers Marine Services Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palmers Marine Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Palmers Marine Services Limited. You consider that Palmers Marine Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Palmers Marine
Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting
records or information and explanations you have given to us and we do not, therefore, express any opinion
on the statutory financial statements.






Charcroft Baker LLP
Chartered Accountants
5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD


27 May 2015

This page does not form part of the abbreviated accounts

2
Palmers Marine Services Limited (Registered number: 06982163)

Abbreviated Balance Sheet
31 August 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 366,667 403,333
Tangible assets 3 23,569 31,425
390,236 434,758

CURRENT ASSETS
Debtors 124,379 83,311
Cash at bank 271,365 370,298
395,744 453,609
CREDITORS
Amounts falling due within one year 85,239 94,514
NET CURRENT ASSETS 310,505 359,095
TOTAL ASSETS LESS CURRENT
LIABILITIES
700,741
793,853

CREDITORS
Amounts falling due after more than one
year
(164,770		 )
(213,725		 )

PROVISIONS FOR LIABILITIES (61 ) (734 )
NET ASSETS 535,910 579,394

CAPITAL AND RESERVES
Called up share capital 4 100 2
Profit and loss account 535,810 579,392
SHAREHOLDERS' FUNDS 535,910 579,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 notes form part of these abbreviated accounts

3
Palmers Marine Services Limited (Registered number: 06982163)

Abbreviated Balance Sheet - continued
31 August 2014


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 26 May 2015 and were signed on its
behalf by:





R Goatham - Director


The notes form part of these abbreviated accounts

4
Palmers Marine Services Limited (Registered number: 06982163)

Notes to the Abbreviated Accounts
for the Year Ended 31 August 2014

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).

Turnover
Turnover represents net sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Vessels - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2013
and 31 August 2014 550,000
AMORTISATION
At 1 September 2013 146,667
Amortisation for year 36,666
At 31 August 2014 183,333
NET BOOK VALUE

At 31 August 2014 366,667
At 31 August 2013 403,333

5
Palmers Marine Services Limited (Registered number: 06982163)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 August 2014

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2013
and 31 August 2014 78,861
DEPRECIATION
At 1 September 2013 47,436
Charge for year 7,856
At 31 August 2014 55,292
NET BOOK VALUE
At 31 August 2014 23,569
At 31 August 2013 31,425

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
100 Ordinary £1 100 2

98 Ordinary shares of £1 were issued during the year as a bonus out of reserves.

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors due after one year is an amount of £81,856 (2013 : £106,331) due to A
Goatham and £82,914 (2013 : £107,394) due to R Goatham in respect of their directors loan
accounts.

6