Weymouth Watercraft Limited - Period Ending 2016-03-31

Weymouth Watercraft Limited - Period Ending 2016-03-31


Weymouth Watercraft Limited03720811falsetrue2015-04-012016-03-312016-03-31037208112015-04-012016-03-31037208112016-03-3103720811uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeShares2016-03-3103720811uk-bus:Director12015-04-012016-03-3103720811uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeShares2015-04-012016-03-3103720811uk-gaap:PlantMachinery2015-04-012016-03-31037208112015-03-31037208112015-03-3103720811uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeShares2015-03-31iso4217:GBPxbrli:shares

Registration number: 03720811

Weymouth Watercraft Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

 

Weymouth Watercraft Limited
Contents

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

Weymouth Watercraft Limited
(Registration number: 03720811)
Abbreviated Balance Sheet at 31 March 2016

 

Note

   

2016
£

   

2015
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

   

38,998

   

39,179

 

Current assets

 

   

   

 

Debtors

 

3

   

168,621

   

168,844

 

Cash at bank and in hand

 

   

19,568

   

27,288

 

 

   

188,189

   

196,132

 

Creditors: Amounts falling due within one year

 

   

(2,271)

   

(2,309)

 

Net current assets

 

   

185,918

   

193,823

 

Net assets

 

   

224,916

   

233,002

 

Capital and reserves

 

   

   

 

Called up share capital

 

4

   

60

   

60

 

Profit and loss account

 

   

224,856

   

232,942

 

Shareholders' funds

 

   

224,916

   

233,002

 

For the year ending 31 March 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 19 December 2016






Mr P Jones
Director

 
 

Weymouth Watercraft Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the hire of pleasure craft to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: In respect of land and buildings, depreciation is not provided as the properties are maintained in a continual state of sound repair and have a residual value not materially different from the amount that the properties are included in the accounts. The director also considers that the remaining life of the property is more than 50 years and therefore the depreciation charge would be insignificant.

Asset class

Depreciation method and rate

Plant and machinery

25% of written down value

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Weymouth Watercraft Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

57,706

   

57,706

 

Additions

 

290

   

290

 

At 31 March 2016

 

57,996

   

57,996

 

Depreciation

           

At 1 April 2015

 

18,527

   

18,527

 

Charge for the year

 

471

   

471

 

At 31 March 2016

 

18,998

   

18,998

 

Net book value

           

At 31 March 2016

 

38,998

   

38,998

 

At 31 March 2015

 

39,179

   

39,179

 

3

Debtors

Debtors includes £73,298 (2015 - £73,298) receivable after more than one year.

 

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

A Ordinary shares of £1 each

 

60

   

60

   

60

   

60

 
                         
 

Weymouth Watercraft Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

5

Related party transactions

Director's advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr P Jones

Advanced/Repaid , interest charged at official rate

1,242

2,926

1,673

4,065