Allseas Global Supply Chain Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08799498 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2016 TO 31 DECEMBER 2017

FOR

ALLSEAS GLOBAL SUPPLY CHAIN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Wright

SECRETARY:

Mrs L A Lewin

REGISTERED OFFICE:

Unit 1

Harris House

Moorbridge Road East

Bingham

Nottinghamshire

NG13 8GG

REGISTERED NUMBER:

08799498 (England and Wales)

SENIOR STATUTORY AUDITOR:

David Miller

AUDITORS:

Sedulo Audit Limited

Statutory Auditors

Regency Court

62-66 Deansgate

Manchester

M3 2EN

FIXED ASSETS

Tangible assets

4

628

938

CURRENT ASSETS

Debtors

5

5,373

15,488

Cash at bank

30,439

12,075

35,812

27,563

CREDITORS

Amounts falling due within one year

6

300,066

302,143

NET CURRENT LIABILITIES

(264,254

)

(274,580

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(263,626

)

(273,642

)

CAPITAL AND RESERVES

Called up share capital

199

199

Retained earnings

(263,825

)

(273,841

)

(263,626

)

(273,642

)

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 30 September 2018 and were signed by:

D Wright - Director

1.	STATUTORY INFORMATION

Allseas Global Supply Chain Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

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.

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

amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to

adopt the going concern basis of accounting in preparing the financial statements.

There will be financial support from the group companies and the shareholders of the group for at least 12

months from the date of signing this report.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2016

and 31 December 2017

3,119

DEPRECIATION

At 1 August 2016

2,181

Charge for period

310

At 31 December 2017

2,491

NET BOOK VALUE

At 31 December 2017

628

At 31 July 2016

938

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.7.16

£

£

Trade debtors

5,000

133

Other debtors

373

15,355

5,373

15,488

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.7.16

£

£

Trade creditors

(1,495

)

337

Amounts owed to group undertakings

291,968

279,728

Taxation and social security

1,714

5,510

Other creditors

7,879

16,568

300,066

302,143

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Miller (Senior Statutory Auditor)

for and on behalf of Sedulo Audit Limited

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There are amounts owed to the director at the balance sheet date of £3,091 (2016: £3,091)

9.	RELATED PARTY DISCLOSURES

A former director, James Morris owes the company £11,612 (2016: £17,220).

10.	ULTIMATE CONTROLLING PARTY

The company's parent undertaking is Allseas Global Management Limited.

The ultimate controlling party of the group is Darren Wright.