MARINE_INVESTIGATIONS_&_S - Accounts

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED - Company Information

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Company Registration No. 04473196 (England and Wales)

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

Faulkner House

Victoria Street

Rayner Essex LLP

St Albans

Chartered Accountants

Herts

AL1 3SE

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

497,256

458,640

Current assets

Debtors

18,826

6,599

Cash at bank and in hand

27,450

37,877

46,276

44,476

Creditors: amounts falling due within one year

(69,095)

(66,267)

Net current liabilities

(22,819)

(21,791)

Total assets less current liabilities

474,437

436,849

Capital and reserves

Called up share capital

Revaluation reserve

6,448

Profit and loss account

467,987

430,399

Shareholders' funds

474,437

436,849

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 12 December 2016

J B Waite

Director

Company Registration No. 04473196

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

25% per annum reducing balance

Fixtures, fittings and equipment

15% per annum reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MARINE INVESTIGATIONS & SURVEY SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 July 2015

472,688

Additions

39,409

At 30 June 2016

512,097

Depreciation

At 1 July 2015

14,048

Charge for the year

793

At 30 June 2016

14,841

Net book value

At 30 June 2016

497,256

At 30 June 2015

458,640

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each