Avon Boating Ltd
Avon Boating Ltd
Financial Statements
For The Year Ended 31 December 2018
Avon Boating Ltd
Financial Statements
For The Year Ended 31 December 2018
Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountants' Report | 1 |
| Statement of Financial Position | 2—3 |
| Notes to the Financial Statements | 4—6 |
Avon Boating Ltd
Accountants' Report
For The Year Ended 31 December 2018
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Avon Boating Ltd For The Year Ended 31 December 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avon Boating Ltd For The Year Ended 31 December 2018 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to 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 at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Avon Boating Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Avon Boating Ltd and state those matters that we have agreed to state to the directors of Avon Boating Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avon Boating Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Avon Boating Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Avon Boating Ltd . You consider that Avon Boating Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Avon Boating Ltd . 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 financial statements.
|
|
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
Avon Boating Ltd
Statement of Financial Position
As at
31 December 2018
Statement of Financial Position
Registered number:
05149985
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
| Tangible Assets | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks |
|
|
|||
| Debtors |
|
|
|||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year |
( |
( |
|||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
|
|
||
| Income Statement |
|
|
|||
| SHAREHOLDERS' FUNDS | 810,846 | 610,532 | |||
Page 2
Avon Boating Ltd
Statement of Financial Position (continued)
As at
31 December 2018
Directors' responsibilities:
-
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
|
|
|
|
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Avon Boating Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold Property |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Boats |
|
| Office Equipment |
|
1.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was 32 (2017: 31).
Page 4
Avon Boating Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2018
3.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at |
|
||
| As at |
|
||
| Amortisation | |||
| As at |
|
||
| Provided during the period |
|
||
| As at |
|
||
| Net Book Value | |||
| As at |
|
||
| As at |
|
||
4.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Leasehold Property | Plant & Machinery | Motor Vehicles | Boats | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
( |
|
( |
| As at |
|
|
|
|
| Depreciation | ||||
| As at |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
( |
|
( |
| As at |
|
|
|
|
| Net Book Value | ||||
| As at |
|
|
|
|
| As at |
|
|
|
|
Page 5
Avon Boating Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2018
| Office Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| As at |
|
|
| Additions |
|
|
| Disposals |
|
( |
| As at |
|
|
| Depreciation | ||
| As at |
|
|
| Provided during the period |
|
|
| Disposals |
|
( |
| As at |
|
|
| Net Book Value | ||
| As at |
|
|
| As at |
|
|
6.
General Information
Avon Boating Ltd Registered number 05149985 is a limited by shares company incorporated in England & Wales. The Registered Office is Swans Nest Boathouse, Swans Nest Lane, Stratford upon Avon, Warwickshire, CV37 7LS.
Page 6