Ratae Maritime Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06014940 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Ratae Maritime Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C T Watson

REGISTERED OFFICE:

32 DeMontfort Street

Leicester

Leicestershire

LE1 7GD

REGISTERED NUMBER:

06014940 (England and Wales)

ACCOUNTANTS:

Pinnacle

Chartered Certified Accountants

& Registered Auditors

32 DeMontfort Street

Leicester

Leicestershire

LE1 7GD

FIXED ASSETS

Tangible assets

5

2,368

2,836

CURRENT ASSETS

Debtors

6

-

5,874

Cash at bank and in hand

37,523

40,777

37,523

46,651

CREDITORS

Amounts falling due within one year

7

33,199

45,600

NET CURRENT ASSETS

4,324

1,051

TOTAL ASSETS LESS CURRENT LIABILITIES

6,692

3,887

PROVISIONS FOR LIABILITIES

411

490

NET ASSETS

6,281

3,397

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

6,181

3,297

SHAREHOLDERS' FUNDS

6,281

3,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 September 2017 and were signed by:

Mr C T Watson - Director

1.	STATUTORY INFORMATION

Ratae Maritime Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates

and laws that have been enacted or substantively enacted by the year end and that are expected to apply

to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2016

and 31 December 2016

6,247

DEPRECIATION

At 1 January 2016

3,411

Charge for year

468

At 31 December 2016

3,879

NET BOOK VALUE

At 31 December 2016

2,368

At 31 December 2015

2,836

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

-

5,874

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

-

12,350

Trade creditors

2,648

-

Taxation and social security

2,361

4,749

Other creditors

28,190

28,501

33,199

45,600

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

100

Ordinary shares

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2016

3,297

Profit for the year

7,884

Dividends

(5,000

)

At 31 December 2016

6,181

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2016, company owed £27,060 (2015 - £27,272) to Mr C Watson (director & shareholder).

The loan is interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2015 - £13,000) were paid to the director .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr C T Watson.