Bailey Marine Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03396990 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

FOR

BAILEY MARINE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

J E Bailey

Mrs A J Bailey

SECRETARY:

Mrs A J Bailey

REGISTERED OFFICE:

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

REGISTERED NUMBER:

03396990 (England and Wales)

ACCOUNTANTS:

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

2

821

1,170

CURRENT ASSETS

Stocks

25,123

10,123

Debtors

23,839

44,115

Cash at bank

70,819

93,783

119,781

148,021

CREDITORS

Amounts falling due within one year

24,530

64,694

NET CURRENT ASSETS

95,251

83,327

TOTAL ASSETS LESS CURRENT LIABILITIES

96,072

84,497

PROVISIONS FOR LIABILITIES

89

-

NET ASSETS

95,983

84,497

CAPITAL AND RESERVES

Called up share capital

3

200

200

Profit and loss account

95,783

84,297

SHAREHOLDERS' FUNDS

95,983

84,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 August 2014 and were signed on its behalf by:

J E Bailey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts earned during the period net of VAT.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% 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.

Deferred tax

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

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

19,298

Additions

374

At 30 June 2014

19,672

DEPRECIATION

At 1 July 2013

18,128

Charge for year

723

At 30 June 2014

18,851

NET BOOK VALUE

At 30 June 2014

821

At 30 June 2013

1,170

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

200

Ordinary

£1

200

200

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

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

approval the financial statements of Bailey Marine Limited for the year ended 30 June 2014 which comprise

the Profit and Loss Account, the 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 at

icaew.com/membershandbook.

This report is made solely to the Board of Directors of Bailey Marine Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Bailey Marine Limited and state those matters that we have agreed to state to the Board of

Directors of Bailey Marine Limited, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bailey Marine 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

profit of Bailey Marine Limited. You consider that Bailey Marine 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 Bailey Marine

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.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

28 August 2014