| Ventnor Marina Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Ventnor Marina Limited for the year ended 30 September 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Ventnor Marina Limited for the year ended 30 September 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Blenheim Partners Limited |
| Chartered Accountants |
| Cedar Court |
| 221 Hagley Road |
| Halesowen |
| B63 1ED |
|
| 23 June 2017 |
|
| Ventnor Marina Limited |
| Registered number: |
06377573 |
| Abbreviated Balance Sheet |
| as at 30 September 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
128,296 |
|
|
162,508 |
| Tangible assets |
3 |
|
|
3,261,125 |
|
|
3,271,857 |
|
|
|
|
3,389,421 |
|
|
3,434,365 |
|
| Current assets |
| Stocks |
|
|
5,794 |
|
|
5,331 |
| Debtors |
|
|
82,717 |
|
|
162,021 |
| Cash at bank and in hand |
|
|
6,959 |
|
|
38,091 |
|
|
|
95,470 |
|
|
205,443 |
|
| Creditors: amounts falling due within one year |
|
|
(600,148) |
|
|
(509,322) |
|
| Net current liabilities |
|
|
|
(504,678) |
|
|
(303,879) |
|
| Total assets less current liabilities |
|
|
|
2,884,743 |
|
|
3,130,486 |
|
|
|
|
|
|
|
|
| Creditors: amounts falling due after more than one year |
|
|
|
5,899,077 |
|
|
6,245,740 |
|
| Capital and reserves |
| Called up share capital |
4 |
|
2 |
|
|
2 |
| Profit and loss account |
|
|
(3,014,336) |
|
|
(3,115,256) |
|
| Shareholders' funds |
|
|
|
(3,014,334) |
|
|
(3,115,254) |
|
|
|
|
|
2,884,743 |
|
|
3,130,486 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| RJ Smith |
| Director |
| Approved by the board on 23 June 2017 |
|
| Ventnor Marina Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 sales of berthing and other marina income to extrenal customers at invoiced amounts less valued added tax. It is recognised in the year to which it relates. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
4% to 33% straight line |
|
Freehold property |
2% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Going concern |
|
The directors consider the company to be a going concern as it has the support of the ultimate parent undertaking, who in turn has the support of its ultimate controlling party. |
|
|
Goodwill |
|
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 12.5 years. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2015 |
2,200,000 |
|
At 30 September 2016 |
2,200,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2015 |
2,037,492 |
|
Provided during the year |
34,212 |
|
At 30 September 2016 |
2,071,704 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2016 |
128,296 |
|
At 30 September 2015 |
162,508 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2015 |
3,453,107 |
|
Additions |
9,437 |
|
At 30 September 2016 |
3,462,544 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2015 |
181,250 |
|
Charge for the year |
20,169 |
|
At 30 September 2016 |
201,419 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2016 |
3,261,125 |
|
At 30 September 2015 |
3,271,857 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
