Abbreviated Company Accounts - MARINEGRACE LIMITED

MARINEGRACE LIMITED - Company Information

07587942 MARINEGRACE LIMITED 2015-10-31 false 2014-05-01 2015-10-31 true 07587942 2014-05-01 2015-10-31 07587942 2015-10-31 07587942 2014-04-30 07587942 uk-gaap-cd-bus:Director1 2014-05-01 2015-10-31 07587942 uk-gaap-cd-bus:Director2 2014-05-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-30 iso4217:EUR shares

Registered Number 07587942

MARINEGRACE LIMITED

Abbreviated Accounts

31 October 2015

MARINEGRACE LIMITED Registered Number 07587942

Abbreviated Balance Sheet as at 31 October 2015

	Notes	31/10/2015	30/04/2014
		€	€
Fixed assets
Tangible assets	2	562,500	600,000
		562,500	600,000
Creditors: amounts falling due within one year	3	(639,553)	(637,959)
Net current assets (liabilities)		(639,553)	(637,959)
Total assets less current liabilities		(77,053)	(37,959)
Total net assets (liabilities)		(77,053)	(37,959)
Capital and reserves
Called up share capital	4	1,135	1,135
Profit and loss account		(78,188)	(39,094)
Shareholders' funds		(77,053)	(37,959)

For the year ending 31 October 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 directors acknowledge their 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 Board on 17 June 2016

And signed on their behalf by:
Ifigeneia THEODOTOU, Director

MARINEGRACE LIMITED Registered Number 07587942

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

2Tangible fixed assets

	€
Cost
At 1 May 2014	600,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	600,000
Depreciation
At 1 May 2014	-
Charge for the year	37,500
On disposals	-
At 31 October 2015	37,500
Net book values
At 31 October 2015	562,500
At 30 April 2014	600,000

The company acquired a yacht on the 27 April 2011 which was not recorded in the books
and records along with the associated depreciation charge
in the Financial Years ended from the 01.04.2013 to 31.10.2015.
Under UK GAAP a prior year adjustment is made for a change in
accounting policy or for a fundamental error.
A fundamental error is defined by FRS 3 as an error of such significance as to destroy
the true and fair view of the Financial Statements.
The Prior year error was considered to be fundamental and was corrected by retrospective
restatement of the 2013 comparative numbers to address the acquisition of the yacht and the
recording of the associated depreciation charge.

3Creditors

	31/10/2015 €	30/04/2014 €
Secured Debts	639,553	637,959

4Called Up Share Capital
Allotted, called up and fully paid:

	31/10/2015 €	30/04/2014 €
1,000 Ordinary shares of €1.135 each	1,135	1,135

The exchange rate 1.135 which was used to convert the Share Capital from GBP to EURO was taken from
Oanda.com at historical rate, Date: 01 April 2009.