Marentech Service Limited - Limited company accounts 16.3

REGISTERED NUMBER: SC290613 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 September 2016

for

Marentech Service Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Maurice Walters

SECRETARY:

Axiano Company Secretaries Limited

REGISTERED OFFICE:

71 Brunswick Street

Edinburgh

EH7 5HS

REGISTERED NUMBER:

SC290613 (Scotland)

The director presents his report with the financial statements of the company for the year ended 30 September 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of commodity trading on its own account and on

behalf of third parties.

DIRECTOR

Maurice Walters held office during the whole of the period from 1 October 2015 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not

approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the director is

required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Maurice Walters - Director

22 August 2017

TURNOVER

190,422

180,960

Cost of sales

179,112

170,494

GROSS PROFIT

11,310

10,466

Administrative expenses

10,730

10,011

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

580

455

Tax on profit on ordinary activities

3

116

91

PROFIT FOR THE FINANCIAL YEAR

464

364

CURRENT ASSETS

Debtors

4

35,410

30,517

Cash at bank

5,865

6,560

41,275

37,077

CREDITORS

Amounts falling due within one year

5

28,460

24,726

NET CURRENT ASSETS

12,815

12,351

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,815

12,351

CAPITAL AND RESERVES

Called up share capital

6

100

Profit and loss account

7

12,715

12,251

SHAREHOLDERS' FUNDS

12,815

12,351

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 22 August 2017 and were signed by:

Maurice Walters - 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.

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.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.16

30.9.15

£

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.9.16

30.9.15

£

Current tax:

UK corporation tax

116

91

Tax on profit on ordinary activities

116

91

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

Trade debtors

35,410

30,517

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

Trade creditors

28,144

24,435

Tax

116

91

Accrued expenses

200

28,460

24,726

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

100

Ordinary

£1

100

7.

RESERVES

Profit

and loss

account

£

At 1 October 2015

12,251

Profit for the year

464

At 30 September 2016

12,715