Abbreviated Company Accounts - WEYMOUTH WATERCRAFT LIMITED

Abbreviated Company Accounts - WEYMOUTH WATERCRAFT LIMITED


Registered Number 03720811

WEYMOUTH WATERCRAFT LIMITED

Abbreviated Accounts

30 March 2014

WEYMOUTH WATERCRAFT LIMITED Registered Number 03720811

Abbreviated Balance Sheet as at 30 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 39,710 40,418
39,710 40,418
Current assets
Debtors 3 169,693 166,952
Cash at bank and in hand 26,048 21,731
195,741 188,683
Creditors: amounts falling due within one year (5,623) (13,797)
Net current assets (liabilities) 190,118 174,886
Total assets less current liabilities 229,828 215,304
Total net assets (liabilities) 229,828 215,304
Capital and reserves
Called up share capital 4 60 60
Profit and loss account 229,768 215,244
Shareholders' funds 229,828 215,304
  • For the year ending 30 March 2014 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 directors acknowledge their 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 Board on 21 December 2014

And signed on their behalf by:
Mr P Jones, Director

WEYMOUTH WATERCRAFT LIMITED Registered Number 03720811

Notes to the Abbreviated Accounts for the period ended 30 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 April 2008)

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

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated resudual value, over their expected useful economic life as follows:
Plant and machinery - 25% of written down value

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.

Other accounting policies
Going concern
The financial statements have been prepared on a going concern basis.

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

2Tangible fixed assets
£
Cost
At 1 April 2013 57,706
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 30 March 2014 57,706
Depreciation
At 1 April 2013 17,288
Charge for the year 708
On disposals 0
At 30 March 2014 17,996
Net book values
At 30 March 2014 39,710
At 31 March 2013 40,418
3Debtors
2014
£
2013
£
Debtors include the following amounts due after more than one year 73,298 73,298
4Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
60A Ordinary shares of £1 each 60 60

5Transactions with directors

Name of director receiving advance or credit: Mr P Jones
Description of the transaction: Advances and repayments
Balance at 1 April 2013: £ 34,658
Advances or credits made: £ 10,128
Advances or credits repaid: £ 8,305
Balance at 30 March 2014: £ 36,481