Atlantas Marine Limited - Period Ending 2015-03-31

Registration number: 04109813

Atlantas Marine Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Atlantas Marine Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Atlantas Marine Limited
(Registration number: 04109813)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					286,802			304,574
Current assets
Stocks					209,235			45,827
Debtors					279,718			397,870
Cash at bank and in hand					16,037			71,875
					504,990			515,572
Creditors: Amounts falling due within one year					(422,473)			(448,424)
Net current assets					82,517			67,148
Total assets less current liabilities					369,319			371,722
Creditors: Amounts falling due after more than one year					(10,877)			(78,817)
Provisions for liabilities					(57,212)			(55,326)
Net assets					301,230			237,579
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					301,130			237,479
Shareholders' funds					301,230			237,579

Page 1

Atlantas Marine Limited
(Registration number: 04109813)
Abbreviated Balance Sheet at 31 March 2015

For the year ending 31 March 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 4 August 2015

C R Foll Director

Page 2

Atlantas Marine Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Short leasehold land and buildings	10% straight line basis
Plant and machinery	25% reducing balance basis
Fixtures and fittings	25% reducing balance basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Atlantas Marine Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		397,847			397,847
Additions		112,796			112,796
Disposals		(36,751)			(36,751)
At 31 March 2015		473,892			473,892
Depreciation
At 1 April 2014		93,273			93,273
Charge for the year		95,474			95,474
Eliminated on disposals		(1,657)			(1,657)
At 31 March 2015		187,090			187,090
Net book value
At 31 March 2015		286,802			286,802
At 31 March 2014		304,574			304,574

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4

Atlantas Marine Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
C R Foll
Director's loan account	28,125	39,430	48,151	42,589

Page 5