Citadel Maritime Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07653883 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Citadel Maritime Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N J L Clarke

M A M Kingston

REGISTERED OFFICE:

12 Whiteladies Road

Clifton

Bristol

BS8 1PD

REGISTERED NUMBER:

07653883 (England and Wales)

ACCOUNTANTS:

Pure Professionals Limited

Chartered Accountants & Tax Advisers

12 Whiteladies Road

Clifton

Bristol

BS8 1PD

FIXED ASSETS

Tangible assets

2

250,190

359,542

CURRENT ASSETS

Debtors

113,278

221,193

Cash at bank and in hand

7,754

69,964

121,032

291,157

CREDITORS

Amounts falling due within one year

302,190

439,402

NET CURRENT LIABILITIES

(181,158

)

(148,245

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

69,032

211,297

CREDITORS

Amounts falling due after more than one
year

(52,542

)

-

PROVISIONS FOR LIABILITIES

(18,817

)

(58,205

)

NET (LIABILITIES)/ASSETS

(2,327

)

153,092

CAPITAL AND RESERVES

Called up share capital

3

2

Capital redemption reserve

1

Profit and loss account

(2,330

)

153,089

SHAREHOLDERS' FUNDS

(2,327

)

153,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 31 March 2017 and were signed on its behalf by:

N J L Clarke - 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

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Going concern

The directors have confirmed they will continue to give financial support to the company until such time as its

position improves. In addition the directors have confirmed that they will not recall their loan within 12 months.

The directors consider that it is appropriate to prepare the financial statements on a going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

490,482

Additions

47,470

Disposals

(110,676

)

At 30 June 2016

427,276

DEPRECIATION

At 1 July 2015

130,940

Charge for year

48,383

Eliminated on disposal

(2,237

)

At 30 June 2016

177,086

NET BOOK VALUE

At 30 June 2016

250,190

At 30 June 2015

359,542

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

200

Ordinary

£0.01

2