Astral Marine Services Limited - Period Ending 2021-04-30
Astral Marine Services Limited - Period Ending 2021-04-30
Registration number:
for the Year Ended 30 April 2021
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 |
Mr Claes Morgan Eliasson Mr Claes Marcus Eliasson Mr Stuart Hall |
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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 2021
The directors present their strategic report for the year ended 30 April 2021.
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 |
2021 |
2020 |
|
|
Turnover |
£ |
923,828 |
1,114,169 |
|
Turnover growth |
% |
(17) |
(12) |
|
Gross profit margin |
% |
77 |
73 |
|
Profit/(loss) before tax |
£ |
73,711 |
72,672 |
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.
In response to this matter and uncertainty the company has made use of the Coronavirus Job Retention Scheme. 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 £62 (2019: gain of £45) 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
.........................................
Mr Stuart Hall
Director
Astral Marine Services Limited
Directors' Report for the Year Ended 30 April 2021
The directors present their report and the financial statements for the year ended 30 April 2021.
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 2021
.........................................
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 2021, 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 2021 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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.
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.
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Astral Marine Services Limited
Independent Auditor's Report to the Members of Astral Marine Services Limited
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the environmental waste sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available 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
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
Income Statement for the Year Ended 30 April 2021
|
Note |
2021 |
2020 |
|
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Revenue |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other gains/(losses) |
|
( |
|
|
Operating profit |
|
|
|
|
Finance costs |
( |
- |
|
|
Profit before tax |
|
|
|
|
Income tax expense |
( |
( |
|
|
Profit for the year |
|
|
The above results were derived from continuing operations.
Astral Marine Services Limited
Statement of Comprehensive Income for the Year Ended 30 April 2021
|
2021 |
2020 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
Astral Marine Services Limited
(Registration number: 03522485)
Statement of Financial Position as at 30 April 2021
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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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||
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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 |
|
|
|
|
Non-current liabilities |
|||
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Loans and borrowings |
|
- |
|
|
Deferred tax liabilities |
|
|
|
|
|
|
||
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Current liabilities |
|||
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Trade and other payables |
|
|
|
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Loans and borrowings |
|
- |
|
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Income tax liability |
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|
|
|
|
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||
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Total liabilities |
|
|
|
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Total equity and liabilities |
|
|
|
Approved by the
.........................................
Director
Astral Marine Services Limited
Statement of Changes in Equity for the Year Ended 30 April 2021
|
Share capital |
Retained earnings |
Total |
|
|
At 1 May 2020 |
|
|
|
|
Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
At 30 April 2021 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 May 2019 |
|
|
|
|
Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 April 2020 |
100 |
259,543 |
259,643 |
Astral Marine Services Limited
Statement of Cash Flows for the Year Ended 30 April 2021
|
Note |
2021 |
2020 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
(Profit)/loss on disposal of property plant and equipment |
( |
|
|
|
Finance costs |
|
- |
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in trade and other receivables |
( |
|
|
|
(Decrease)/increase in trade and other payables |
( |
|
|
|
Cash generated from operations |
( |
|
|
|
Income taxes paid |
( |
( |
|
|
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 |
|||
|
Interest paid |
( |
- |
|
|
Proceeds from bank borrowing draw downs |
|
- |
|
|
Dividends paid |
- |
( |
|
|
Net cash flows from financing activities |
|
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 May |
323,080 |
137,355 |
|
|
Cash and cash equivalents at 30 April |
136,970 |
323,080 |
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
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 2020 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 2020 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 2021
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 2021
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 |
|
Other property, plant and equipment |
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.
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
Borrowings
All borrowings are initially recorded at the amount of proceeds received, net of transaction costs. Borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in finance costs.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.
Leases
Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease.
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:
|
2021 |
2020 |
|
|
Gain (loss) on disposal of property, plant and equipment |
|
( |
|
Operating profit |
Arrived at after charging/(crediting)
|
2021 |
2020 |
|
|
Depreciation expense |
|
|
|
(Profit)/loss on disposal of property, plant and equipment |
( |
|
|
Finance income and costs |
|
2021 |
2020 |
|
|
Finance costs |
||
|
Interest on bank overdrafts and borrowings |
( |
- |
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2021 |
2020 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2021 |
2020 |
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2021 |
2020 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
|
|
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2021 |
2020 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
Income tax |
Tax charged/(credited) in the income statement
|
2021 |
2020 |
|
|
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 (2020 - the same as the standard rate of corporation tax in the UK) of 19% (2020 - 19%).
The differences are reconciled below:
|
2021 |
2020 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in current tax from adjustment for prior periods |
( |
( |
|
Increase/(decrease) from effect of capital allowances depreciation |
|
( |
|
Increase from effect of expenses not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax (credit)/expense from unrecognised temporary difference from a prior period |
( |
|
|
Other tax effects for reconciliation between accounting profit and tax (income)/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 2021
Deferred tax
Deferred tax assets and liabilities
Deferred tax movement during the year:
|
At 1 May 2020 |
Recognised in income |
At |
|
|
Provisions |
|
( |
|
Deferred tax movement during the prior year:
|
At 1 May 2019 |
Recognised in income |
At |
|
|
Provisions |
|
|
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
Property, plant and equipment |
|
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
|
|
Cost or valuation |
||||
|
At 1 May 2019 |
|
|
- |
|
|
Additions |
|
|
- |
|
|
Disposals |
- |
( |
- |
( |
|
At 30 April 2020 |
|
|
- |
|
|
At 1 May 2020 |
|
|
- |
|
|
Additions |
|
- |
|
|
|
Disposals |
- |
( |
- |
( |
|
At 30 April 2021 |
|
|
|
|
|
Depreciation |
||||
|
At 1 May 2019 |
|
|
- |
|
|
Charge for year |
|
|
- |
|
|
Eliminated on disposal |
- |
( |
- |
( |
|
At 30 April 2020 |
|
|
- |
|
|
At 1 May 2020 |
|
|
- |
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
|
At 30 April 2021 |
|
|
|
|
|
Carrying amount |
||||
|
At 30 April 2021 |
|
|
|
|
|
At 30 April 2020 |
|
|
- |
|
|
At 1 May 2019 |
|
|
- |
|
|
Trade and other receivables |
|
30 April |
30 April |
|
|
Trade receivables |
- |
|
|
Loans to related parties |
|
|
|
Accrued income |
|
|
|
Prepayments |
|
|
|
Other receivables |
|
|
|
|
|
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
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 2021
|
Share capital |
Allotted, called up and fully paid shares
|
30 April |
30 April |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Loans and borrowings |
|
30 April |
30 April |
|
|
Non-current loans and borrowings |
||
|
Bank borrowings |
|
- |
|
30 April |
30 April |
|
|
Current loans and borrowings |
||
|
Bank borrowings |
|
- |
|
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 £23,700 (2020 - £26,392).
Astral Marine Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2021
|
Dividends |
|
30 April |
30 April |
|||
|
£ |
£ |
|||
|
Interim dividend of £Nil (2020 - £ |
- |
40,000 |
||
|
Related party transactions |
Summary of transactions with other related parties
Astral Maritime Services Limited
During the year, the company provided management services to a fellow group company, Astral Maritime Services Limited, amounting to £838,852 (2020: £1,049,912). At the date of the statement of financial position, the amount owed to the company by Astral Maritime Services Limited was £228,981 (2020: £10,244).
|
Parent and ultimate parent undertaking |
The company's immediate parent is