|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lochin Marine International Limited |
|
Unaudited Financial Statements for the Year Ended 28 February 2019 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lochin Marine International Limited |
|
Unaudited Financial Statements for the Year Ended 28 February 2019 |
|
|
|
|
|
Lochin Marine International Limited (Registered number: 01972300) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 28 February 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Lochin Marine International Limited |
|
Company Information |
for the Year Ended 28 February 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Wilson House |
48 Brooklyn Road |
Seaford |
East Sussex |
BN25 2DX |
Lochin Marine International Limited (Registered number: 01972300) |
|
Balance Sheet |
28 February 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR |
6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Lochin Marine International Limited (Registered number: 01972300) |
|
Balance Sheet - continued |
28 February 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors on
its behalf by: |
|
|
|
|
|
|
|
Lochin Marine International Limited (Registered number: 01972300) |
|
Notes to the Financial Statements |
for the Year Ended 28 February 2019 |
|
1. | STATUTORY INFORMATION |
|
Lochin Marine International Limited is a
|
and Wales. 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 |
|
|
Turnover |
Turnover represents revenue, net of VAT, from commercial transactions under which the company |
supplies customers the goods and services that it is in business to provide and it is recognised when |
it obtains, through performance under contract, the right to consideration for those goods and |
services. |
|
Intangible assets |
Development expenditure incurred on an individual project is carried forward when its future |
recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised |
on a straight line basis over 8 years, in line with the expected future sales from the related project. |
|
Intangible fixed assets are reviewed for impairment on an annual basis and impairment losses are |
recognised in profit or loss for the year, except to the extent that they reverse a previous |
revaluation. In this instance, the loss is debited to the revaluation reverse with any excess charged to |
profit or loss. |
|
Tangible fixed assets |
|
Long leasehold | - |
|
Plant and machinery | - |
|
Computer and office equipment | - |
|
Motor vehicles | - |
|
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
Account, 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. |
Lochin Marine International Limited (Registered number: 01972300) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
Deferred tax on plant and machinery held at deemed cost is measured using the rates and |
allowances that would apply to the sale of the assets. |
|
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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
|
Pension costs and other post-retirement benefits |
The company contributes to a defined contribution pension scheme on behalf of staff. Contributions |
to the scheme are charged to profit or loss in the period to which they relate. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Lochin Marine International Limited (Registered number: 01972300) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
|
4. | TANGIBLE FIXED ASSETS |
Computer |
and |
Long | Plant and | office | Motor |
leasehold | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2018 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 28 February 2019 |
|
|
|
|
|
DEPRECIATION |
At 1 March 2018 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 28 February 2019 |
|
|
|
|
|
NET BOOK VALUE |
At 28 February 2019 |
|
|
|
|
|
At 28 February 2018 |
|
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
Lochin Marine International Limited (Registered number: 01972300) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
|
7. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Ordinary shares | £1 | 100 | 100 |
|
8. | FINANCIAL COMMITMENTS |
|
Total financial commitments, guarantees and contingencies which are not included in the balance |
sheet amount to £38,250 (2018 - £51,000) and are all in respect of an operating lease payable over |
the next three (2017 - four) years. |
|
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
During the year the company made advances to the director of £4,893 (2018 - £28,649) and was |
repaid £18,293 (2018 - £18,952). |
|
At the balance sheet date the amount owed to the director was £4,380 (2018 - owed by the director |
£9,020). |
|
The loan is unsecured, interest free and repayable on demand. |