Melcal Marine UK Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC455891 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

MELCAL MARINE UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

S R Steele

REGISTERED OFFICE:

7-9 Bon Accord Crescent

Aberdeen

AB11 6DN

REGISTERED NUMBER:

SC455891 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Property, plant and equipment

4

32,932

39,117

CURRENT ASSETS

Inventories

-

282,852

Debtors

5

153,059

32,255

Cash at bank

58,717

34,676

211,776

349,783

CREDITORS

Amounts falling due within one year

6

636,894

740,285

NET CURRENT LIABILITIES

(425,118

)

(390,502

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(392,186

)

(351,385

)

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

(393,186

)

(352,385

)

SHAREHOLDERS' FUNDS

(392,186

)

(351,385

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 29 May 2018 and were signed by:

S R Steele - Director

1.	STATUTORY INFORMATION

Melcal Marine UK 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.

Income recognition

Income is recognised when goods or services have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Lease costs

-

not depreciated

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress

and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

Foreign exchange

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the

date of the transaction.

Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the

balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Lease

Plant and

and

Computer

costs

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

22,028

13,054

3,811

11,590

50,483

Additions

-

5,000

-

-

5,000

Disposals

-

-

-

(9,306

)

(9,306

)

At 31 December 2017

22,028

18,054

3,811

2,284

46,177

DEPRECIATION

At 1 January 2017

-

6,527

1,096

3,743

11,366

Charge for year

-

3,263

953

571

4,787

Eliminated on disposal

-

-

-

(2,908

)

(2,908

)

At 31 December 2017

-

9,790

2,049

1,406

13,245

NET BOOK VALUE

At 31 December 2017

22,028

8,264

1,762

878

32,932

At 31 December 2016

22,028

6,527

2,715

7,847

39,117

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

60,056

11,229

Other debtors

90,720

18,843

150,776

30,072

Amounts falling due after more than one year:

Other debtors

2,283

2,183

Aggregate amounts

153,059

32,255

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

155,807

13,109

Taxation and social security

2,561

3,649

Other creditors

478,526

723,527

636,894

740,285

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1 January 2017

(352,385

)

Deficit for the year

(40,801

)

At 31 December 2017

(393,186

)

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Melcal SPA, a company registered in Italy.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of

Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of

the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

31 May 2018