Company Registration No. 05906470 (England and Wales)
Vortec Marine Limited
Unaudited accounts
for the year ended 31 August 2018
Vortec Marine Limited
Unaudited accounts
Contents
Vortec Marine Limited
Company Information
for the year ended 31 August 2018
Director
Ross Michael Collingwood
Company Number
05906470 (England and Wales)
Registered Office
Unit 16 The Slipway Marina Keep
Port Solent
Portsmouth
Hampshire
PO6 4TR
Accountants
Stillness Road Limited
329 Hills Road
Cambridge
CB2 0QT
Vortec Marine Limited
Statement of financial position
as at
31 August 2018
Cash at bank and in hand
4,117
62,662
Creditors: amounts falling due within one year
(292,099)
(85,537)
Net current assets
203,475
124,622
Net assets
203,475
124,622
Called up share capital
1
1
Profit and loss account
203,474
124,621
Shareholders' funds
203,475
124,622
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 April 2019.
Ross Michael Collingwood
Director
Company Registration No. 05906470
Vortec Marine Limited
Notes to the Accounts
for the year ended 31 August 2018
Vortec Marine Limited is a private company, limited by shares, registered in England and Wales, registration number 05906470. The registered office is Unit 16 The Slipway Marina Keep, Port Solent, Portsmouth, Hampshire, PO6 4TR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Finished goods
10,444
875
Trade debtors
389,467
107,096
Amounts due from group undertakings etc.
19,587
19,587
Accrued income and prepayments
64,948
13,645
Other debtors
7,011
6,294
6
Creditors: amounts falling due within one year
2018
2017
Trade creditors
214,759
19,582
Amounts owed to group undertakings and other participating interests
7,840
55
Taxes and social security
53,559
44,151
Other creditors
2,151
9,591
Loans from directors
2,761
2,427
Vortec Marine Limited
Notes to the Accounts
for the year ended 31 August 2018
7
Operating lease commitments
2018
2017
At 31 August 2018 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
14,760
14,760
Within two to five years
21,822
36,582
8
Transactions with related parties
On 31 August 2018 £2,760 (2017: £2,426) was owed to the director, Ross Collingwood.
Amounts due from group undertakings include £19,587 (2017: £19,587) due from Vortec Marine Training Ltd, a wholly owned subsidiary company.
Amounts owed to group undertakings include £7,840 (2017: £55) owed to Vortec Marine Limited, a wholly owned subsidiary company.
The ultimate parent undertaking is Vortec Group Limited, Company Registration No 10185665, Registered Office Address: Unit 16 The Slipway, Port Solent, Portsmouth, PO6 4TR
The ultimate controlling party is R Collingwood.
10
Average number of employees
During the year the average number of employees was 12 (2017: 5).