Abbreviated Company Accounts - CLEARWATER MARINE INVESTMENTS LIMITED

CLEARWATER MARINE INVESTMENTS LIMITED - Company Information

04462581 CLEARWATER MARINE INVESTMENTS LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 04462581 2013-01-01 2013-12-31 04462581 2013-12-31 04462581 2012-12-31 04462581 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 04462581 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 04462581

CLEARWATER MARINE INVESTMENTS LIMITED

Abbreviated Accounts

31 December 2013

CLEARWATER MARINE INVESTMENTS LIMITED Registered Number 04462581

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	239,040	261,374
Investments	3	244,120	251,120
		483,160	512,494
Current assets
Debtors		1,001,060	2,339,142
Cash at bank and in hand		119,015	131,312
		1,120,075	2,470,454
Creditors: amounts falling due within one year		(1,649,440)	(3,034,152)
Net current assets (liabilities)		(529,365)	(563,698)
Total assets less current liabilities		(46,205)	(51,204)
Total net assets (liabilities)		(46,205)	(51,204)
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		(46,206)	(51,205)
Shareholders' funds		(46,205)	(51,204)

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 June 2014

And signed on their behalf by:
N R Hill, Director

CLEARWATER MARINE INVESTMENTS LIMITED Registered Number 04462581

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of fees receivable during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold improvements - Straight line over the life of the lease
Aircraft - Straight Line over the life of the assets
Fixtures, fittings and equipment - 25% straight line

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.

Deferred taxation
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Going concern
At the balance sheet date, the reporting entity had net liabilities in the sum of £46,205. The company is reliant on the support of the connected company. On the basis that the connected company will continue to support the reporting entity for the foreseeable future, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the connected company.

2Tangible fixed assets

	£
Cost
At 1 January 2013	387,779
Additions	3,108
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	390,887
Depreciation
At 1 January 2013	126,405
Charge for the year	25,442
On disposals	-
At 31 December 2013	151,847
Net book values
At 31 December 2013	239,040
At 31 December 2012	261,374

3Fixed assets Investments
Investment in Selvaplana SA (100% shareholding)
Investment in Birch Shipping Ltd (39.90% shareholding)
Investment in Woodstreet Inc. (39.90% shareholding)

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1 Ordinary shares of £1 each	1	1