Marine Testing Solutions Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08270644 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

MARINE TESTING SOLUTIONS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

6

DIRECTOR:

Mr Alan John Welton

SECRETARY:

Mrs Susan Clare Welton

REGISTERED OFFICE:

7 Barwick Close

Rustington

Littlehampton

West Sussex

BN16 3TT

REGISTERED NUMBER:

08270644 (England and Wales)

ACCOUNTANTS:

D M McNaught & Co Ltd

Chartered Accountants

166 Buchanan Street

Glasgow

Lanarkshire

G1 2LW

FIXED ASSETS

Tangible assets

2

1,303

1,738

Investments

3

100

1,403

1,838

CURRENT ASSETS

Stocks

37,625

47,353

Debtors

68,390

57,109

Cash in hand

277

201

106,292

104,663

CREDITORS

Amounts falling due within one year

120,364

125,418

NET CURRENT LIABILITIES

(14,072

)

(20,755

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,669

)

(18,917

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(12,769

)

(19,017

)

SHAREHOLDERS' FUNDS

(12,669

)

(18,917

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 6 October 2016 and were signed by:

Mr Alan John Welton - 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 January 2015).

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

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

3,091

DEPRECIATION

At 1 April 2015

1,353

Charge for year

435

At 31 March 2016

1,788

NET BOOK VALUE

At 31 March 2016

1,303

At 31 March 2015

1,738

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

100

NET BOOK VALUE

At 31 March 2016

100

At 31 March 2015

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Water Testing Solutions Ltd

Nature of business: Non-trading

%

Class of shares:

holding

Ordinary

100.00

30/9/15

£

Aggregate capital and reserves

100

The investment in this company was transferred after the year-end to Mr Alan Welton for a consideration of

£100.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

10p

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

Mr Alan John Welton

Balance outstanding at start of year

32,310

7,685

Amounts advanced

44,557

32,310

Amounts repaid

(32,310

)

(7,685

)

Balance outstanding at end of year

44,557

32,310

The loan to the director was repaid after the year-end.

6.	GOING CONCERN

The balance sheet shows net liabilities of £12,669 (2015 - £18,917), including a loan from an associated

company of £104,500 (2015 - £105,000). As the company retains the support of the associated company the

accounts have been prepared on a going concern basis.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

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 Marine Testing Solutions Ltd for the year ended 31 March 2016 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 director of Marine Testing Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marine Testing Solutions Ltd and state those matters that we have agreed to state to the director of Marine Testing Solutions Ltd 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 director for our work or for this report.

It is your duty to ensure that Marine Testing Solutions Ltd 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 Marine Testing Solutions Ltd. You consider that Marine Testing Solutions Ltd 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 Marine Testing Solutions Ltd. 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.

D M McNaught & Co Ltd

Chartered Accountants

166 Buchanan Street

Glasgow

Lanarkshire

G1 2LW

6 October 2016