BERLEWEN_FISHING_LIMITED - Accounts

BERLEWEN FISHING AND LEISURE LIMITED - Company Information

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Company Registration No. 05391436 (England and Wales)

BERLEWEN FISHING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

BERLEWEN FISHING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

BERLEWEN FISHING LIMITED

ABBREVIATED BALANCE SHEET - UNAUDITED

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

83,291

91,621

Tangible assets

130,547

147,567

213,838

239,188

Current assets

Debtors

96,717

130,448

Cash at bank and in hand

125

124

96,842

130,572

Creditors: amounts falling due within one year

(114,417)

(149,321)

Net current liabilities

(17,575)

(18,749)

Total assets less current liabilities

196,263

220,439

Creditors: amounts falling due after more than one year

(163,726)

(187,392)

Provisions for liabilities

(23,206)

(25,995)

9,331

7,052

Capital and reserves

Called up share capital

200

Profit and loss account

9,131

6,852

Shareholders' funds

9,331

7,052

BERLEWEN FISHING LIMITED

ABBREVIATED BALANCE SHEET - UNAUDITED (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 October 2015

N P Chapman

Director

Company Registration No. 05391436

BERLEWEN FISHING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for fish sales and quota leasing net of VAT and trade discounts.The turnover and profit before taxation are attributable to the one principal activity of the company.

1.3

Licences

Acquired licences are written off in equal annual instalments over their estimated useful economic life.

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance method

Computer equipment

33.3% straight line method

Boat

10% reducing balance method

Motor vehicles

25% reducing balance method

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

BERLEWEN FISHING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014 & at 31 March 2015

166,590

399,890

566,480

Depreciation

At 1 April 2014

74,969

252,323

327,292

Charge for the year

8,330

17,020

25,350

At 31 March 2015

83,299

269,343

352,642

Net book value

At 31 March 2015

83,291

130,547

213,838

At 31 March 2014

91,621

147,567

239,188

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £57,319 (2014 - £59,571).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £163,726 (2014 - £187,392).

Share capital

2015

2014

Allotted, called up and fully paid

200 Ordinary shares of £1 each

200

BERLEWEN FISHING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 5 -

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

L J Chapman - Director's loan

37,736

6,106

6,350

37,492

N P Chapman - Director's loan

37,737

6,106

6,350

37,493

75,473

12,212

12,700

74,985

These are interest free loans to the directors which are repayable on demand.