Company Registration No. NI659557 (Northern Ireland)
Antares Marine Offshore Limited
Unaudited accounts
for the year ended 31 March 2022
Antares Marine Offshore Limited
Statement of financial position
as at 31 March 2022
Tangible assets
6,752
8,995
Cash at bank and in hand
17,897
39,406
Creditors: amounts falling due within one year
(24,541)
(38,602)
Net current assets
8,956
15,257
Called up share capital
100
100
Profit and loss account
15,608
24,152
Shareholders' funds
15,708
24,252
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 December 2022 and were signed on its behalf by
Simon Brown
Director
Company Registration No. NI659557
Antares Marine Offshore Limited
Notes to the Accounts
for the year ended 31 March 2022
Antares Marine Offshore Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI659557. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The director believes that the company Antares Marine Offshore Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the invoice value of marine engineering services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide marine engineering services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight line
Computer equipment
25% straight line
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Antares Marine Offshore Limited
Notes to the Accounts
for the year ended 31 March 2022
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
222
8,206
2,232
10,660
At 31 March 2022
222
8,206
2,232
10,660
At 1 April 2021
18
1,641
6
1,665
Charge for the year
44
1,641
558
2,243
At 31 March 2022
62
3,282
564
3,908
At 31 March 2022
160
4,924
1,668
6,752
At 31 March 2021
204
6,565
2,226
8,995
Amounts falling due within one year
Trade debtors
15,600
12,480
Accrued income and prepayments
-
1,935
6
Creditors: amounts falling due within one year
2022
2021
Amounts owed to group undertakings and other participating interests
-
6,755
Taxes and social security
12,697
15,979
Loans from directors
1,522
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 2 (2021: 2).
