REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GALAXY SHIPPING LIMITED |
|
Abbreviated Unaudited Accounts |
|
for the Year Ended 31 October 2014 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GALAXY SHIPPING LIMITED |
|
Abbreviated Unaudited Accounts |
|
for the Year Ended 31 October 2014 |
|
|
|
|
|
GALAXY SHIPPING LIMITED (REGISTERED NUMBER: 04919271) |
|
|
|
|
|
|
Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2014 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Abbreviated Balance Sheet | 2 |
|
Notes to the Abbreviated Accounts | 3 |
|
Chartered Accountants' Report | 4 |
GALAXY SHIPPING LIMITED |
|
Company Information |
for the Year Ended 31 October 2014 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
|
|
|
|
|
|
|
BANKERS: |
|
|
|
GALAXY SHIPPING LIMITED (REGISTERED NUMBER: 04919271) |
|
Abbreviated Balance Sheet |
31 October 2014 |
|
2014 | 2013 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
|
|
Investments |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 2 |
|
|
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
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 were approved by the director on
|
|
|
|
|
|
|
|
GALAXY SHIPPING LIMITED (REGISTERED NUMBER: 04919271) |
|
Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2014 |
|
1. | ACCOUNTING POLICIES |
|
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
Turnover |
Turnover represents sale of goods and services provided net of Value Added Tax and trade discounts. Turnover |
is recognised when the goods and services are physically provided to the customer. |
|
Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the Balance Sheet date. However, |
deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that |
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be |
deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates that are expected to |
apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially |
enacted at the Balance Sheet date. |
|
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
commitment to sell the assets. |
|
2. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
|
Ordinary | £1 |
|
|
|
3. | RELATED PARTY DISCLOSURES |
|
Andrew Martin is also director of Saltire Shipping Ltd and sole proprietor of Scotbroker. |
Work done during the year for Saltire Shipping Ltd totalled £459,639. There was no debtor balance at 31 |
October 2014. Purchases from Saltire Shipping ltd totalled £3,000. There was no creditor balance at 31 October |
2014. |
Work done during the year for Scotbroker totalled £3,442. There was no debtor balance at 31 October 2014. |
Purchases from Scotbroker totalled £16,910. There was no creditor balance at 31 October 2014. |
|
Included in creditors is a loan due to Saltire Shipping Limited of £107,740. |
|
4. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is
|
|
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Galaxy Shipping Limited |
|
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three) |
have been prepared. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Galaxy Shipping Limited for the year ended 31 October 2014 which comprise the Profit and Loss |
Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
|
This report is made solely to the director of Galaxy Shipping Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Galaxy Shipping Limited and state those matters that we have agreed to state to the director of Galaxy Shipping Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
|
It is your duty to ensure that Galaxy Shipping Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Galaxy Shipping Limited. You consider that Galaxy Shipping Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of Galaxy Shipping Limited. |
For this reason, we have not verified the accuracy or completeness of the accounting records or information and |
explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
|
|
|
|
|
|
18 May 2015 |