Surf South West Limited - Accounts to registrar (filleted) - small 18.1

Surf South West Limited - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 04180496(England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2018

FOR

SURF SOUTH WEST LIMITED

SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018










Page

Balance Sheet 1

Notes to the Financial Statements 3


SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

BALANCE SHEET
5 APRIL 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 253,164 254,531

CURRENT ASSETS
Cash at bank and in hand 25,415 19,166

CREDITORS
Amounts falling due within one year 5 11,662 9,778
NET CURRENT ASSETS 13,753 9,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,917

263,919

PROVISIONS FOR LIABILITIES 6 568 821
NET ASSETS 266,349 263,098

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 266,347 263,096
SHAREHOLDERS' FUNDS 266,349 263,098

SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

BALANCE SHEET - continued
5 APRIL 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 Profit and loss account has not been delivered.

The financial statements were approved by the director on 5 June 2018and were signed by:





Mr D J Burrett- Director


SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018


1. STATUTORY INFORMATION

Surf South West Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:

Registered number: 04180496

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Surf equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss
account, 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.


SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2018


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10(2017 - 10) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Surf and
property equipment fittings
£    £    £   
COST
At 6 April 2017
and 5 April 2018 250,000 10,195 11,567
DEPRECIATION
At 6 April 2017 - 10,195 10,782
Charge for year - - 118
At 5 April 2018 - 10,195 10,900
NET BOOK VALUE
At 5 April 2018 250,000 - 667
At 5 April 2017 250,000 - 785

SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2018


4. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Equipment Totals
£    £    £   
COST
At 6 April 2017
and 5 April 2018 19,244 4,986 295,992
DEPRECIATION
At 6 April 2017 15,498 4,986 41,461
Charge for year 1,249 - 1,367
At 5 April 2018 16,747 4,986 42,828
NET BOOK VALUE
At 5 April 2018 2,497 - 253,164
At 5 April 2017 3,746 - 254,531

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 11,662 9,778

6. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 568 821

Deferred
tax
£   
Balance at 6 April 2017 821
Provided during year (253 )
Balance at 5 April 2018 568

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
2 Ordinary £1 2 2

SURF SOUTH WEST LIMITED (REGISTERED NUMBER: 04180496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2018


8. FIRST YEAR ADOPTION - FRS 102 1A

No transitional adjustments were required in the previous year.