Aqualine Marine Limited - Abbreviated accounts 16.1

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REGISTERED NUMBER: 04544308 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

AQUALINE MARINE LIMITED

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Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

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DIRECTOR:

J Corker

REGISTERED OFFICE:

Hanbury Wharf

Hanbury Road

Droitwich

Worcestershire

WR9 7DU

REGISTERED NUMBER:

04544308 (England and Wales)

ACCOUNTANTS:

Neuhoff & Co

Chartered Accountants

Claydons Barns

11 Towcester Road

Whittlebury

Northamptonshire

NN12 8XU

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FIXED ASSETS

Tangible assets

2

340

489

Investments

3

10,000

10,340

10,489

CURRENT ASSETS

Stocks

294,037

148,421

Debtors

322,343

287,580

Cash at bank

367,523

264,890

983,903

700,891

CREDITORS

Amounts falling due within one year

611,933

370,250

NET CURRENT ASSETS

371,970

330,641

TOTAL ASSETS LESS CURRENT
LIABILITIES

382,310

341,130

CAPITAL AND RESERVES

Called up share capital

4

64,326

Capital redemption reserve

46,785

Profit and loss account

271,199

230,019

SHAREHOLDERS' FUNDS

382,310

341,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 18 October 2016 and were signed by:

J Corker - Director

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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).

Preparation of consolidated financial statements

The financial statements contain information about Aqualine Marine Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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 etc

-

25% on cost

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

11,740

DEPRECIATION

At 1 January 2015

11,251

Charge for year

149

At 31 December 2015

11,400

NET BOOK VALUE

At 31 December 2015

340

At 31 December 2014

489

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3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

10,000

NET BOOK VALUE

At 31 December 2015

10,000

At 31 December 2014

10,000

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

Aqualine Marine Sp.z o.o.

Country of incorporation: Poland

Nature of business: Boat builders

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

Aggregate capital and reserves

82,792

(77,086

)

Profit for the year

155,942

142,842

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

64,326

Ordinary shares

£1

64,326

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2014 - £20,000) were paid to the director .

During the year the company acquired goods totalling £1,312,042 (2014 - £1,125,887 from Aqualine Marine

Sp.z o.o , its wholly owned Polish subsidiary. As at 31 December 2015 the amount due from the company to

Aqualine Marine Sp.z o.o was £89,100 (2014- £Nil).. The company did not make any sales of goods or services

to Aqualine Marine Sp z o.o. in the year. As at 31 December 2015 the company was owed the total sum of

£193,865 (2014 - £193,865) by its subsidiary.