REGISTERED NUMBER: 05288800 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Marine Data Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T G Ingram

REGISTERED OFFICE:

8th Floor

Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

REGISTERED NUMBER:

05288800 (England and Wales)

ACCOUNTANTS:

Jelliff Lamprey Partnership Limited

8th Floor

Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

FIXED ASSETS

Tangible assets

4

86,182

63,158

CURRENT ASSETS

Stocks

187,843

127,263

Debtors

5

168,571

167,508

Cash at bank and in hand

574

26,182

356,988

320,953

CREDITORS

Amounts falling due within one year

6

332,793

183,436

NET CURRENT ASSETS

24,195

137,517

TOTAL ASSETS LESS CURRENT LIABILITIES

110,377

200,675

CREDITORS

Amounts falling due after more than one year

7

22,995

29,193

NET ASSETS

87,382

171,482

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

87,282

171,382

SHAREHOLDERS' FUNDS

87,382

171,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 19 December 2018 and were signed by:

Mr T G Ingram - Director

1.	STATUTORY INFORMATION

Marine Data Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue represents the amount derived from ordinary activities, stated after trade discounts, value added tax and

any other sales taxes, where applicable. Revenue is the value of goods provided to customers during the year,

plus the value of work performed during the year with respect to services.

Revenue is recognised on sale of goods when goods are delivered to customers and the title, risks and rewards of

ownership have transferred to them.

Revenue is recognised on the provision of services on a percentage degree of completion basis.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and subsequently measured at amortised cost using the effective interest

method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price.

Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Ultimate parent company

Katon Ingram Holdings (IW) Limited is the ultimate parent company, incorporated in England & Wales.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 11 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

127,232

Additions

50,110

At 31 March 2018

177,342

DEPRECIATION

At 1 April 2017

64,074

Charge for year

27,086

At 31 March 2018

91,160

NET BOOK VALUE

At 31 March 2018

86,182

At 31 March 2017

63,158

The fixed assets are revalued annually by the directors on an open market basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,384

15,520

Amounts owed by group undertakings

105,843

126,489

Other debtors

37,344

25,499

168,571

167,508

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

73,494

37,549

Trade creditors

108,343

43,598

Amounts owed to group undertakings

90,000

90,000

Taxation and social security

(4,385

)

(8,069

)

Other creditors

65,341

20,358

332,793

183,436

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

22,995

29,193

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

66,415

30,059

The overdraft from Lloyds Bank plc contains a fixed and floating charge over the company assets.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.