Company Registration No. 01074462 (England and Wales)
AEROSPACE CONSTRUCTION TECHNICAL SERVICES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
AEROSPACE CONSTRUCTION TECHNICAL SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
AEROSPACE CONSTRUCTION TECHNICAL SERVICES LIMITED
Company Registration No. 01074462
ABBREVIATED BALANCE SHEET
AS AT 31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
177,531
177,533
Cash at bank and in hand
312
-
177,843
177,533
Creditors: amounts falling due within one year
(266,604)
(265,424)
Total assets less current liabilities
(88,761)
(87,891)
Capital and reserves
Called up share capital
2
15,175
15,175
Profit and loss account
(103,936)
(103,066)
Shareholder's funds
(88,761)
(87,891)
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 July 2016
J L Munk
Director
AEROSPACE CONSTRUCTION TECHNICAL SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Going concern
The company had net liabilities of £8 8 , 76 1 at the balance sheet date, of which £21 7 , 770 was owed to the ultimate parent company, Maritek Holdings Limited. The ultimate parent company has confirmed that it will continue to support the company for the foreseeable future and will not withdraw its loan to the detriment of the company or its creditors. Therefore the directors believe it is appropriate to prepare the financial statements on the going concern basis.8,761 at the balance sheet date, of which £217,770 was owed to the ultimate parent company, Maritek Holdings Limited. The ultimate parent company has confirmed that it will continue to support the company for the foreseeable future and will not withdraw its loan to the detriment of the company or its creditors. Therefore the directors believe it is appropriate to prepare the financial statements on the going concern basis.
1.3
Turnover
Turnover represents management charges receivable towards staff costs and overheads supplied during the year, exclusive of Value Added Tax and trade discounts.management charges receivable towards staff costs and overheads supplied during the year, exclusive of Value Added Tax and trade discounts.
Income is recognised in the period in which the service is supplied.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Equipment
Over three years
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid
15,175 Ordinary shares of £1 each
15,175
15,175
3
Ultimate parent company
The ultimate parent undertaking is Maritek Holdings Limitedtrue, a company registered in England and Wales, which owns all of the issued ordinary share capital.
