D-D The Aquarium Solution Limited Company Accounts

D-D THE AQUARIUM SOLUTION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05702059

D-D The Aquarium Solution Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2016

D-D The Aquarium Solution Limited

Financial Statements

Year ended 31 December 2016

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

D-D The Aquarium Solution Limited

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£	£

Fixed assets

Tangible assets	5		85,403		17,039

Current assets

Stocks		297,824	321,292
Debtors	6	517,241	202,973
Cash at bank and in hand		1,000,855	793,875
		------------	------------
		1,815,920	1,318,140

Creditors: amounts falling due within one year	7	( 390,044)		( 205,247)
		------------		------------
Net current assets			1,425,876		1,112,893
			------------		------------
Total assets less current liabilities			1,511,279		1,129,932
			------------		------------
Net assets			1,511,279		1,129,932
			------------		------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,511,179	1,129,832
	------------	------------
Members funds	1,511,279	1,129,932
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D-D The Aquarium Solution Limited

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 28 September 2017 , and are signed on behalf of the board by:

D J Saxby

Director

Company registration number: 05702059

D-D The Aquarium Solution Limited

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Dukes Passage, Brighton, East Sussex, BN1 1BS.

2. Statement of compliance

The accounts have been prepared in accordance with the provisions of FRS102 Section 1a small entities. There were no material departures from that standard.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Furniture & Fittings	-	20% straight line
Motor Vehicles	-	25% reducing balance
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 17 (2015: 17 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2016	1,535	16,018	59,019	76,572
Additions	–	85,854	15,990	101,844
Disposals	–	( 16,018)	–	( 16,018)
	-------	--------	--------	---------
At 31 December 2016	1,535	85,854	75,009	162,398
	-------	--------	--------	---------
Depreciation
At 1 January 2016	1,535	9,260	48,738	59,533
Charge for the year	–	22,308	5,258	27,566
Disposals	–	( 10,104)	–	( 10,104)
	-------	--------	--------	---------
At 31 December 2016	1,535	21,464	53,996	76,995
	-------	--------	--------	---------
Carrying amount
At 31 December 2016	–	64,390	21,013	85,403
	-------	--------	--------	---------
At 31 December 2015	–	6,758	10,281	17,039
	-------	--------	--------	---------

6. Debtors

	2016	2015
	£	£
Trade debtors	420,187	196,558
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,000	–
Other debtors	95,054	6,415
	---------	---------
	517,241	202,973
	---------	---------

7. Creditors: amounts falling due within one year

	2016	2015
	£	£
Trade creditors	215,848	110,050
Corporation tax	108,617	40,378
Social security and other taxes	13,304	32,385
Other creditors	52,275	22,434
	---------	---------
	390,044	205,247
	---------	---------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
D J Saxby	( 6,096)	( 55,000)	63,553	2,457
S L Bertram	–	( 46,250)	76,250	30,000
	-------	---------	---------	--------
	( 6,096)	( 101,250)	139,803	32,457
	-------	---------	---------	--------

	2015
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
D J Saxby	10,961	( 95,000)	77,943	( 6,096)
S L Bertram	20,000	( 31,250)	11,250	–
	--------	---------	--------	-------
	30,961	( 126,250)	89,193	( 6,096)
	--------	---------	--------	-------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.