Jolly Sailor Limited - Period Ending 2015-12-31

Registration number: 05910840

Jolly Sailor Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

West Accounting Solutions
46 Church Lane
Backwell
Bristol
North Somerset
BS48 3PQ

Jolly Sailor Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Jolly Sailor Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jolly Sailor Limited for the year ended 31 December 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Jolly Sailor Limited, 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 Jolly Sailor Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jolly Sailor Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jolly Sailor Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Jolly Sailor Limited. You consider that Jolly Sailor 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 accounts of Jolly Sailor 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 accounts.

......................................

West Accounting Solutions
46 Church Lane
Backwell
Bristol
North Somerset
BS48 3PQ

12 May 2016

Page 1

Jolly Sailor Limited
(Registration number: 05910840)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					-			136,025
Tangible fixed assets					-			7,857
					-			143,882
Current assets
Stocks					-			10,024
Debtors					6,781			26,658
Cash at bank and in hand					32,584			80,285
					39,365			116,967
Creditors: Amounts falling due within one year					-			(88,676)
Net current assets					39,365			28,291
Total assets less current liabilities					39,365			172,173
Creditors: Amounts falling due after more than one year					(14,890)			(81,140)
Provisions for liabilities					-			(1,571)
Net assets					24,475			89,462
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					24,473			89,460
Shareholders' funds					24,475			89,462

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Jolly Sailor Limited
(Registration number: 05910840)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 2015 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 12 May 2016 and signed on its behalf by:

.........................................
Mr C G Say
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Jolly Sailor Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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 sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

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:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line
Short term leasehold	10% straight line

Hire purchase and leasing

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

Page 4

Jolly Sailor Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		229,901			86,630			316,531
Disposals		(229,901)			(86,630)			(316,531)
At 31 December 2015		-			-			-
Depreciation
At 1 January 2015		93,876			78,773			172,649
Charge for the year		8,621			2,908			11,529
Eliminated on disposals		(102,497)			(81,681)			(184,178)
At 31 December 2015		-			-			-
Net book value
At 31 December 2015		-			-			-
At 31 December 2014		136,025			7,857			143,882

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 5