Ratae Maritime Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06014940 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

for

Ratae Maritime Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr C T Watson

SECRETARY:

Mrs A G Watson

REGISTERED OFFICE:

32 De Montfort Street

Leicester

England

Leicestershire

LE1 7GD

REGISTERED NUMBER:

06014940 (England and Wales)

ACCOUNTANTS:

Pinnacle

Chartered Certified Accountants

& Registered Auditors

32 De Montfort Street

Leicester

England

Leicestershire

LE1 7GD

FIXED ASSETS

Tangible assets

2

1,517

1,784

CURRENT ASSETS

Debtors

7,643

6,819

Cash at bank and in hand

33,439

19,712

41,082

26,531

CREDITORS

Amounts falling due within one year

33,917

21,778

NET CURRENT ASSETS

7,165

4,753

TOTAL ASSETS LESS CURRENT LIABILITIES

8,682

6,537

PROVISIONS FOR LIABILITIES

189

217

NET ASSETS

8,493

6,320

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

8,393

6,220

SHAREHOLDERS' FUNDS

8,493

6,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 15 July 2014 and were signed by:

Mr C T Watson - 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 net invoiced sales of goods, excluding 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.

Plant and machinery

-

15% on reducing balance

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax,

or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and

law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods

different from those in which they are included in the financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

3,863

DEPRECIATION

At 1 January 2013

2,079

Charge for year

267

At 31 December 2013

2,346

NET BOOK VALUE

At 31 December 2013

1,517

At 31 December 2012

1,784

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

100

Ordinary shares

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2013, company owed £24,146 (2012 - £15,388) to Mr C Watson (director & shareholder). The loan is

interest free and repayable on demand.