Aeoliki Marine Limited - Filleted accounts

Aeoliki Marine Limited - Filleted accounts

AEOLIKI MARINE LIMITED - Company Information

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Registered number
03981348
Aeoliki Marine Limited
Filleted Accounts
31 October 2017
Aeoliki Marine Limited
Registered number: 03981348
Balance Sheet
as at 31 October 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 249 331
Current assets
Debtors 3 89,367 60,957
Cash at bank and in hand 313,842 295,681
403,209 356,638
Creditors: amounts falling due within one year 4 (78,739) (58,832)
Net current assets 324,470 297,806
Net assets 324,719 298,137
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 323,719 297,137
Shareholders' funds 324,719 298,137
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Athanase Andreou
Director
Approved by the board on 8 February 2018
Aeoliki Marine Limited
Notes to the Accounts
for the year ended 31 October 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 5% to 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Fixtures & equipment
£
Cost
At 1 November 2016 7,879
At 31 October 2017 7,879
Depreciation
At 1 November 2016 7,548
Charge for the year 82
At 31 October 2017 7,630
Net book value
At 31 October 2017 249
At 31 October 2016 331
3 Debtors 2017 2016
£ £
Trade debtors 89,367 59,202
4 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 58,077 33,945
Taxation and social security costs 18,476 24,873
Other creditors (Directors loans £2,150 2016: £Nil ) 2,186 14
78,739 58,832
5 Other information
Aeoliki Marine Limited is a private company limited by shares and incorporated in England. Its registered office is:
Holly House
12 Elm Gardens
Welwyn Garden City
Herts.
AL8 6RY
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