Aquatic Deepwater Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 04560823 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2015

for

Aquatic Deepwater Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S M Hollyman

SECRETARY:

Grosvenor Secretaries Limited

REGISTERED OFFICE:

4th Floor,

Clerks' Well House

20 Britton Street

London

EC1M 5UA

REGISTERED NUMBER:

04560823 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

-

1,999,643

CURRENT ASSETS

Debtors

5

3,285,074

4,594,658

Cash at bank

1,062,942

348,869

4,348,016

4,943,527

CREDITORS

Amounts falling due within one year

6

7,532,286

6,918,990

NET CURRENT LIABILITIES

(3,184,270

)

(1,975,463

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,184,270

)

24,180

CAPITAL AND RESERVES

Called up share capital

21,750

21,750

Retained earnings

(3,206,020

)

2,430

SHAREHOLDERS' FUNDS

(3,184,270

)

24,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 December 2016 and were signed by:

Ms S M Hollyman - Director

1.	STATUTORY INFORMATION

Aquatic Deepwater Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company incurred a loss of €3,208,450 during the financial year (2014 profit: €16,639).

Net liabilities amounted to €3,184,270 at the balance sheet date. The company owes its

shareholders an amount of€258,456, the company owes its service providers €4,844,292 at

the balance sheet date. The loans are interest free. 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.

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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into

account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension 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 1 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

€

COST

At 1 January 2015

2,499,554

Disposals

(2,499,554

)

At 31 December 2015

-

DEPRECIATION

At 1 January 2015

499,911

Eliminated on disposal

(499,911

)

At 31 December 2015

-

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

1,999,643

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

€

€

Trade debtors

3,171,594

4,591,659

Other debtors

113,480

2,999

3,285,074

4,594,658

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

€

€

Trade creditors

(534,211

)

273,840

Taxation and social security

-

771

Other creditors

8,066,497

6,644,379

7,532,286

6,918,990

7.	RELATED PARTY DISCLOSURES

Included in Other Creditors is the loan due to shareholders of €258,456 (2014: €258,456).

That loan is payable on demand and interest free.