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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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ANDERSON WALLROCK NAUTICAL LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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ANDERSON WALLROCK NAUTICAL LIMITED |
ANDERSON WALLROCK NAUTICAL LIMITED (REGISTERED NUMBER: 09359895) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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ANDERSON WALLROCK NAUTICAL LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4th Floor |
Venture House |
27-29 Glasshouse Street |
London |
W1B 5DF |
ANDERSON WALLROCK NAUTICAL LIMITED (REGISTERED NUMBER: 09359895) |
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STATEMENT OF FINANCIAL POSITION |
31 March 2017 |
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2017 | 2016 |
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 | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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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 Board of Directors on
by: |
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ANDERSON WALLROCK NAUTICAL LIMITED (REGISTERED NUMBER: 09359895) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Anderson Wallrock Nautical Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is the total amount receivable, excluding value added tax, for goods and services provided in the |
ordinary course of business. |
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Revenue is recognised at the fair value of the consideration received or receivable for sale of goods and services |
to external customers in the ordinary nature of the business. The fair value of the consideration takes into account |
trade discounts, settlement discounts and volume rebates. |
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Revenue is shown net of Value Added Tax. |
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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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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 statement of financial position 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 |
statement of financial position 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. |
ANDERSON WALLROCK NAUTICAL LIMITED (REGISTERED NUMBER: 09359895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Going concern basis |
The accounts have been prepared on a going concern basis which is dependent upon the company's directors |
continuing to provide the necessary financial facilities to enable the company to continue in operation for the |
foreseeable future. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with |
an original maturity date of three months or less. |
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Financial instruments |
The company has the following basic financial instruments. |
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Basic financial assets |
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Trade and other debtors, cash and bank balances are initially recognised at transaction price and subsequently |
carried at amortised cost using the effective interest method. |
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At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount |
and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The |
impairment loss is recognised in profit or loss. |
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If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised |
the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the |
carrying amount would have been had the impairment not previously been recognised. The impairment reversal |
is recognised in profit or loss. |
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Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or |
are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing |
additional restrictions. |
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Basic financial liabilities |
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Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and |
subsequently carried at amortised cost, using the effective interest rate method. |
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Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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Directors' loan accounts | 31,764 | 56,582 |
Accruals and deferred income |
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ANDERSON WALLROCK NAUTICAL LIMITED (REGISTERED NUMBER: 09359895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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6. | FINANCIAL INSTRUMENTS |
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The company has the following financial instruments: |
Note | 2017 | 2016 |
Financial assets measured at amortised cost |
- Other debtors | 5 | 539 | - |
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Financial liabilities measured at amortised cost |
- Accruals | 6 | 1,000 | 1,500 |
- Other creditors | 6 | 24,817 | - |
- Directors' current accounts | 6 | 31,764 | 56.581 |
57,581 | 58,081 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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8. | RELATED PARTY DISCLOSURES |
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During the period the company was provided with a loan in the sum of £3,247 by Mr R W Wallrock. This loan is |
repayable on demand. |
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During the period the company was provided with a loan in the sum of £28,517 by Mr T D Anderson. This loan |
is repayable on demand. |
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9. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS102 (Section 1A). The last financial |
statements prepared under previous UK GAAP were for the period ended 31 March 2016. The date of transition |
to FRS102 (Section 1A) was 1 April 2015. |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
(Section 1A) and have not impacted on equity or profit or loss. |
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