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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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Aquatic Deepwater Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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for |
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Aquatic Deepwater Limited |
Aquatic Deepwater Limited (Registered number: 04560823) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Aquatic Deepwater Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Aquatic Deepwater Limited (Registered number: 04560823) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | € | € |
CURRENT ASSETS |
Inventories |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her 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. |
Aquatic Deepwater Limited (Registered number: 04560823) |
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Balance Sheet - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Aquatic Deepwater Limited (Registered number: 04560823) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Aquatic Deepwater Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company made a profit of €1,583,699 during the financial year (2017: €1,398,404). Net |
liabilities amounted to €121,942 (2017: €1,705,641) at the balance sheet date. The company |
owes its shareholders an amount of €1,024,161 (2017: €1,024,161), the company owes its |
service providers €2,252,332 (2017: €3,098,888) at the balance sheet date. The company |
operates with the full financial support of its shareholders and service providers and no amounts |
will be called for repayment until the company is financially able to do so. The ability of the |
company to repay this debt depends on the income that it receives from its trade. As a result, |
there is a material uncertainty as to the company' s ability to pay off its debt to the shareholders |
as it falls due. However, the directors consider it appropriate to prepare the financial |
statements on the going concern basis. |
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Whilst the directors believe the going concern basis is appropriate, the above facts indicates the |
existence of a material uncertainty which may cast doubt upon the company's ability to continue |
as a going concern and it may therefore be unable to realise its assets and discharge its |
liabilities in the ordinary course of business. Nevertheless after making full enquiries, and |
considering the uncertainties above, the directors have a reasonable expectation that the |
company will continue in operational existence for the foreseeable future. For these reasons, |
they continue to adopt the going concern basis in preparing the annual report and accounts. The |
financial statements do not include any adjustments that would result from the basis of |
preparation being inappropriate. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Aquatic Deepwater Limited (Registered number: 04560823) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
€ | € |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
€ | € |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Aquatic Deepwater Limited (Registered number: 04560823) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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6. | RELATED PARTY DISCLOSURES |
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Included in Other Creditors is the loan due to shareholders of €1,024,161 (2017: €1,024,161). |