Aquateq Pools Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC428998

AQUATEQ POOLS LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

51,566

33,757

CURRENT ASSETS

Stocks

10,500

8,000

Debtors

86,748

69,948

Cash at bank and in hand

17,710

718

114,958

78,666

CREDITORS

Amounts falling due within one year

3

130,911

87,532

NET CURRENT LIABILITIES

(15,953

)

(8,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,613

24,891

CREDITORS

Amounts falling due after more than one year

3

(27,475

)

(17,495

)

PROVISIONS FOR LIABILITIES

(8,640

)

(3,622

)

NET (LIABILITIES)/ASSETS

(502

)

3,774

CAPITAL AND RESERVES

Called up share capital

4

10

10

Profit and loss account

(512

)

3,764

SHAREHOLDERS' FUNDS

(502

)

3,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 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 13 November 2015 and were signed on its behalf by:

R McKinnon - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. The validity of this is dependant on

continued support from the directors. If support was to be withdrawn, adjustments may have to be made to

reduce the value of the assets to their recoverable amount and to provide for any further liabilities that may arise.

The directors consider, however, that it is still appropriate to prepare the financial statements on a going concern

basis despite this uncertainty.

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 comprises the invoiced sale of goods and services during the year, excluding value added tax. The

company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods

and services have been passed to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tools & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items. Replacement cost of stock would not be materially different.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred tax is not recognised on revaluation gains. Deferred taxation is measured on a

non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences

reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Government grants

Government grant assistance of a revenue nature is credited to the profit and loss account account in the same

period as the related expenditure.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

41,644

Additions

35,585

Disposals

(10,378

)

At 31 March 2015

66,851

DEPRECIATION

At 1 April 2014

7,887

Charge for year

11,127

Eliminated on disposal

(3,729

)

At 31 March 2015

15,285

NET BOOK VALUE

At 31 March 2015

51,566

At 31 March 2014

33,757

3.

CREDITORS

Creditors include an amount of £ 37,405 (2014 - £ 24,101 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£0.01

10

10