Aberdeen Marine Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC403830 (Scotland)

Financial Statements for the Year Ended 31st July 2018

for

Aberdeen Marine Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Frew

S J Laurie

SECRETARY:

REGISTERED OFFICE:

2 Glen Orchy Place,

Kilmarnock

KA2 0LU

REGISTERED NUMBER:

SC403830 (Scotland)

ACCOUNTANTS:

Castleview Accountancy Services

Chartered Accountants

10 Balglass Drive

Balfron

Glasgow

G63 0UA

FIXED ASSETS

Tangible assets

4

30,541

30,207

CURRENT ASSETS

Stocks

-

29,136

Debtors

5

20,031

55,722

Cash at bank

38,152

1,634

58,183

86,492

CREDITORS

Amounts falling due within one year

6

60,431

83,004

NET CURRENT (LIABILITIES)/ASSETS

(2,248

)

3,488

TOTAL ASSETS LESS CURRENT LIABILITIES

28,293

33,695

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

28,273

33,675

SHAREHOLDERS' FUNDS

28,293

33,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2018 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 27th November 2018 and were signed on its behalf by:

J A Frew - Director

1.	STATUTORY INFORMATION

Aberdeen Marine Services Ltd 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.

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.

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 each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year 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 year 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 year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2017

72,041

Additions

334

At 31st July 2018

72,375

DEPRECIATION

At 1st August 2017

and 31st July 2018

41,834

NET BOOK VALUE

At 31st July 2018

30,541

At 31st July 2017

30,207

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/18

31/7/17

£

£

Trade debtors

20,031

55,722

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/18

31/7/17

£

£

Trade creditors

8,828

34,337

Tax

11,647

13,309

Social security and other taxes

16,398

20,932

VAT

1,974

4,374

Directors' current accounts

1

1

Accrued expenses

21,583

10,051

60,431

83,004