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Company Registration No. NI659557 (Northern Ireland)
Antares Marine Offshore Limited Unaudited accounts for the year ended 31 March 2023
Antares Marine Offshore Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,808 
6,752 
Current assets
Debtors
12,413 
15,600 
Cash at bank and in hand
28,867 
17,897 
41,280 
33,497 
Creditors: amounts falling due within one year
(28,894)
(24,541)
Net current assets
12,386 
8,956 
Net assets
17,194 
15,708 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
17,094 
15,608 
Shareholders' funds
17,194 
15,708 
For the year ending 31 March 2023 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.
The financial statements were approved by the Board and authorised for issue on 18 October 2023 and were signed on its behalf by
Simon Brown Director Company Registration No. NI659557
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Antares Marine Offshore Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Antares Marine Offshore Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI659557. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
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.
3
Accounting policies
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.
Going concern
The director believes that the company Antares Marine Offshore Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the invoice value of marine engineering services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide marine engineering services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
25% Straight Line
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
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Antares Marine Offshore Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
222 
8,206 
2,232 
10,660 
Additions
- 
- 
370 
370 
At 31 March 2023
222 
8,206 
2,602 
11,030 
Depreciation
At 1 April 2022
62 
3,282 
564 
3,908 
Charge for the year
44 
1,641 
629 
2,314 
At 31 March 2023
106 
4,923 
1,193 
6,222 
Net book value
At 31 March 2023
116 
3,283 
1,409 
4,808 
At 31 March 2022
160 
4,924 
1,668 
6,752 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,413 
15,600 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,425 
5,967 
Trade creditors
1,619 
1,563 
Taxes and social security
19,207 
12,697 
Other creditors
1,183 
542 
Loans from directors
210 
1,522 
Accruals
2,250 
2,250 
28,894 
24,541 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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