Searoute Breakbulk Services North Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC259721 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

SEAROUTE BREAKBULK SERVICES

NORTH LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Allan Porter

Mark Breingan

REGISTERED OFFICE:

Suite 15

Dunnswood House

Dunnswood Road

Cumbernauld

G67 3EN

REGISTERED NUMBER:

SC259721 (Scotland)

ACCOUNTANTS:

William Duncan (UK) Limited

Chartered Accountants

4d Auchingramont Road

Hamilton

ML3 6JT

BANKERS:

The Royal Bank of Scotland plc

1 Roadside

The Village

Cumbernauld

G67 2SS

CURRENT ASSETS

Debtors

4

5

5

CREDITORS

Amounts falling due within one year

5

149,254

149,254

NET CURRENT LIABILITIES

(149,249

)

(149,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(149,249

)

(149,249

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(149,251

)

(149,251

)

SHAREHOLDERS' FUNDS

(149,249

)

(149,249

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 Board of Directors on 22 December 2017 and were signed on its behalf by:

Mark Breingan - Director

1.	STATUTORY INFORMATION

Searoute Breakbulk Services North Limited is a private company, limited by shares , registered in Scotland. 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The company's net current liabilities amounted to £149,249 as at 31 March 2017. The company meets its day to day

working capital requirements through the continuing support of its group and related undertakings.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in

operational existence for the foreseeable future. If the company was unable to continue in operational existence for the

foreseeable future, adjustments would have to be made to reduce the statement of financial position values of assets to their

recoverable amounts and to provide for further liabilities that might arise.

The group and related undertakings continue to support the company in the post year end period and the directors believe

that it is appropriate for the financial statements to be prepared on a going concern basis.

The company was dormant throughout the current year and previous year.

Financial instruments

Basic financial instruments are recognised as follows:

(i) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair

value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any

impairment.

(ii) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the

statement of financial position.

(iii) Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method.

3.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

VAT

5

5

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed to group undertakings

149,254

149,254

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Allan Porter.

The company's parent undertaking is Searoute Breakbulk Services Limited, Suite 15, Dunnswood House, Dunnswood

Road, Cumbernauld, G67 3EN.