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

Page 1

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.