Aquateq Pools Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC428998

AQUATEQ POOLS LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

55,321

51,566

CURRENT ASSETS

Stocks

24,500

10,500

Debtors

156,394

86,748

Cash at bank and in hand

25,638

17,710

206,532

114,958

CREDITORS

Amounts falling due within one year

3

148,674

130,911

NET CURRENT ASSETS/(LIABILITIES)

57,858

(15,953

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

113,179

35,613

CREDITORS

Amounts falling due after more than one
year

3

(27,094

)

(27,475

)

PROVISIONS FOR LIABILITIES

(8,988

)

(8,640

)

NET ASSETS/(LIABILITIES)

77,097

(502

)

CAPITAL AND RESERVES

Called up share capital

4

10

Profit and loss account

77,087

(512

)

SHAREHOLDERS' FUNDS

77,097

(502

)

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 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 3 November 2016 and were signed on its behalf
by:

R McKinnon - 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 comprises the invoiced sale of goods and services during the year, excluding value added tax. The

company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods

and services have been passed to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

written off over the term of the lease

Tools & equipment

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% 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. Replacement cost of stock would not be materially different.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred tax is not recognised on revaluation gains. Deferred taxation is measured on a

non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences

reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Hire purchase and finance leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Government grants

Government grant assistance of a revenue nature is credited to the profit and loss account account in the same

period as the related expenditure.

Operating lease agreements

Rentals paid under operating leases where substantially all of the benefits and risks of ownership remain with the

lessor, are charged against profits on a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

66,851

Additions

20,893

At 31 March 2016

87,744

DEPRECIATION

At 1 April 2015

15,285

Charge for year

17,138

At 31 March 2016

32,423

NET BOOK VALUE

At 31 March 2016

55,321

At 31 March 2015

51,566

3.

CREDITORS

Creditors include an amount of £ 41,744 (2015 - £ 37,405 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

1p

10