Company Registration No. 07640339 (England and Wales)
NEPTUNE AQUARIUS LIMITED
Unaudited accounts
for the year ended 30 May 2024
NEPTUNE AQUARIUS LIMITED
Unaudited accounts
Contents
NEPTUNE AQUARIUS LIMITED
Company Information
for the year ended 30 May 2024
Director
Mr John Vincent Burton
Company Number
07640339 (England and Wales)
Registered Office
19 ABBOTSFORD GARDENS
WOODFORD GREEN
ESSEX
IG8 9HW
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
NEPTUNE AQUARIUS LIMITED
Statement of financial position
as at 30 May 2024
Investment property
539,150
539,150
Cash at bank and in hand
2,875
2,841
Creditors: amounts falling due within one year
(168,481)
(184,013)
Net current assets
107,140
91,574
Total assets less current liabilities
646,391
630,843
Creditors: amounts falling due after more than one year
(749,924)
(752,182)
Net liabilities
(103,533)
(121,339)
Called up share capital
100
100
Revaluation reserve
200,000
200,000
Profit and loss account
(303,633)
(321,439)
Shareholders' funds
(103,533)
(121,339)
For the year ending 30 May 2024 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 26 September 2024 and were signed on its behalf by
Mr John Vincent Burton
Director
Company Registration No. 07640339
NEPTUNE AQUARIUS LIMITED
Notes to the Accounts
for the year ended 30 May 2024
NEPTUNE AQUARIUS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07640339. The registered office is 19 ABBOTSFORD GARDENS, WOODFORD GREEN, ESSEX, IG8 9HW.
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.
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:
Fixtures & fittings
15% Reducing balance method
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
NEPTUNE AQUARIUS LIMITED
Notes to the Accounts
for the year ended 30 May 2024
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Fixtures & fittings
Fair value at 31 May 2023
539,150
Amounts falling due within one year
Other debtors
272,746
272,746
NEPTUNE AQUARIUS LIMITED
Notes to the Accounts
for the year ended 30 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
12,712
3,560
Amounts owed to group undertakings and other participating interests
47,829
51,487
Other creditors
36,499
72,658
Loans from directors
57,239
43,356
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
749,924
752,182
9
Transactions with related parties
At the balance sheet date, where the director held controlling interests, the company was owed to Dernagree properties ltd amount of £47,829.
At the balance sheet date, where the director held controlling interest, the company owed the director £57,239.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).