Achater Offshore Limited - Limited company - abbreviated

REGISTERED NUMBER: 05870068 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Achater Offshore Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

D D E Kenwright

Miss S M Douglas

D Chalmers

Mrs A M Chalmers

SECRETARY:

D D E Kenwright

REGISTERED OFFICE:

Nags Head Farm

Hoff

APPLEBY-IN-WESTMORLAND

Cumbria

CA16 6TD

REGISTERED NUMBER:

05870068 (England and Wales)

ACCOUNTANTS:

Atholl Scott

Chartered Accountants

Victoria House

13 Victoria Street

ABERDEEN

AB10 1XB

FIXED ASSETS

Tangible assets

2

40,891

51,907

CURRENT ASSETS

Debtors

360,943

230,974

Cash at bank and in hand

367,899

212,722

728,842

443,696

CREDITORS

Amounts falling due within one
year

255,828

228,503

NET CURRENT ASSETS

473,014

215,193

TOTAL ASSETS LESS CURRENT
LIABILITIES

513,905

267,100

PROVISIONS FOR LIABILITIES

5,207

7,428

NET ASSETS

508,698

259,672

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

508,598

259,572

SHAREHOLDERS' FUNDS

508,698

259,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 4 July 2014
and were signed on its behalf by:

D D E Kenwright - Director

1.	ACCOUNTING POLICIES

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 represents amounts receivable for services rendered during the

period, exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

10% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on reducing balance

Deferred tax

The payment of taxation is deferred or accelerated because of timing

differences between the treatment of certain items for accounting and

taxation purposes. Deferred tax assets are recognised only to the extent

that they will be recovered against the reversal of deferred tax

liabilities or other future taxable profits. Full provision for deferred

taxation is made under the liability method, without discounting, on all

timing differences that have arisen, but not reversed by the balance sheet

date, unless such provision is not permitted by accounting standards.

In accordance with such standards deferred tax is not provided for:

a) revaluation gains on land and buildings, unless there is a binding

agreement to sell them at the balance sheet date; and

b) gains on the sale of non-monetary assets, if the taxable gain will

probably be rolled over.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling

at the rates of exchange ruling at the balance sheet date. Transactions in

foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into

account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss

account on a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

92,546

DEPRECIATION

At 1 April 2013

40,639

Charge for year

11,016

At 31 March 2014

51,655

NET BOOK VALUE

At 31 March 2014

40,891

At 31 March 2013

51,907

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

90

Ordinary A

£1

90

5

Ordinary B

£1

5

Ordinary C

£1

5

100

4.	ULTIMATE PARENT COMPANY

Achates Limited is regarded by the directors as being the company's

ultimate parent company.

The following reproduces the text of the report prepared for the directors in

respect of the company's annual unaudited financial statements, from which the

unaudited abbreviated accounts (set out on pages two to four) have been

prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we

have prepared for your approval the financial statements of Achater Offshore

Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of

Scotland, we are subject to its ethical and other professional requirements

which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Achater Offshore

Limited, as a body, in accordance with our terms of engagement. Our work has

been undertaken solely to prepare for your approval the financial statements of

Achater Offshore Limited and state those matters that we have agreed to state to

the Board of Directors of Achater Offshore Limited, as a body, in this report in

accordance with the requirements of the Institute of Chartered Accountants of

Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To

the fullest extent permitted by law, we do not accept or assume responsibility

to anyone other than the company and its Board of Directors, as a body, for our

work or for this report.

It is your duty to ensure that Achater Offshore Limited has kept adequate

accounting records and to prepare statutory financial statements that give a

true and fair view of the assets, liabilities, financial position and profit of

Achater Offshore Limited. You consider that Achater Offshore Limited is exempt

from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial

statements of Achater Offshore Limited. For this reason, we have not verified

the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion

on the statutory financial statements.