Blue Arrow Yachting Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04197225 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

BLUE ARROW YACHTING LIMITED

(FORMERLY CAMPER & NICHOLSONS YACHTING

LIMITED)

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

E M Mattiello

SECRETARY:

Blakelaw Secretaries Limited

REGISTERED OFFICE:

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

REGISTERED NUMBER:

04197225 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Blue Arrow Yachting Limited for the year ended 31st December 2016 which comprise the Income

Statement, Abridged 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Blue Arrow Yachting Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blue Arrow Yachting Limited and state those matters that we have agreed to state to the director of Blue Arrow Yachting Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Arrow Yachting Limited director for our work or for this report.

It is your duty to ensure that Blue Arrow Yachting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Blue Arrow Yachting Limited. You consider that Blue Arrow Yachting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Blue Arrow Yachting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

15th September 2017

CURRENT ASSETS

Stocks

-

406,450

Debtors

245,680

213,462

Cash at bank and in hand

20,623

238

266,303

620,150

CREDITORS

Amounts falling due within one year

121,476

470,864

NET CURRENT ASSETS

144,827

149,286

TOTAL ASSETS LESS CURRENT LIABILITIES

144,827

149,286

CAPITAL AND RESERVES

Called up share capital

250,000

250,000

Retained earnings

(105,173

)

(100,714

)

SHAREHOLDERS' FUNDS

144,827

149,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15th September 2017 and were signed by:

E M Mattiello - Director

1.	STATUTORY INFORMATION

Blue Arrow Yachting 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

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

Foreign currencies

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 rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2016

and 31st December 2016

104,274

AMORTISATION

At 1st January 2016

and 31st December 2016

104,274

NET BOOK VALUE

At 31st December 2016

-

At 31st December 2015

-

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2016

and 31st December 2016

756,257

DEPRECIATION

At 1st January 2016

and 31st December 2016

756,257

NET BOOK VALUE

At 31st December 2016

-

At 31st December 2015

-

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

While acting as a director of the company, Mr S. Lang invoiced Blue Arrow Yachting Limited £3,325 (2015:

£11,508) for consultancy services.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is L Ferragamo.

7.	GOING CONCERN

The directors consider that on the basis of current financial projections available and the support of the parent

company, there is a reasonable expectation that the company has adequate resources to continue in operational

existence for twelve months from the date of approval and, accordingly, consider it is appropriate to adopt the

going concern basis in preparing the Financial Statements.