Britannia Shellfish Limited - Period Ending 2016-03-31

 
 
 
 
 
 
 
  Britannia Shellfish Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2016
 
  Company Registration Number: 03035006

Britannia Shellfish Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Britannia Shellfish Limited
Abbreviated Balance Sheet
31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			84,800			87,755
Current assets
Stocks					1,540			960
Debtors					23,590			29,208
Cash at bank and in hand					23,627			13,167
					48,757			43,335
Creditors: Amounts falling due within one year					(45,314)			(54,761)
Net current assets/(liabilities)					3,443			(11,426)
Total assets less current liabilities					88,243			76,329
Creditors: Amounts falling due after more than one year					(92,424)			(133,020)
Net liabilities					(4,181)			(56,691)
Capital and reserves
Called up share capital		4			255			255
Profit and loss account					(4,436)			(56,946)
Shareholders' deficit					(4,181)			(56,691)

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Britannia Shellfish Limited
Abbreviated Balance Sheet
31 March 2016 ......... continued

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 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 17 July 2016 and signed on its behalf by:

Mr N Hutchings
Director

Mrs A L Hutchings
Director

Company Registration Number: 03035006

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Britannia Shellfish Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... 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).

Going concern

At the year end date the balance sheet shows an excess on liabilities over assets of £4,181. The financial statements have been prepared on a going concern basis on the understanding that the directors will continue to financially support the company.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services 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:

Asset class	Depreciation method and rate
Motor Vehicles	20% reducing balance
Buildings	Straight line over 15 or 20 years
Equipment	15% straight line
Vivier tanks and shed	10% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 3

Britannia Shellfish Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		336,770			336,770
Additions		3,430			3,430
At 31 March 2016		340,200			340,200
Depreciation
At 1 April 2015		249,015			249,015
Charge for the year		6,385			6,385
At 31 March 2016		255,400			255,400
Net book value
At 31 March 2016		84,800			84,800
At 31 March 2015		87,755			87,755

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		5,561			7,313
Amounts falling due after more than one year		92,424			133,020
Total secured creditors		97,985			140,333

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		70,180			103,768

Page 4

Britannia Shellfish Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary shares of £0.01 each		10,000			100			10,000			100
B Ordinary shares of £0.01 each		2,500			25			2,500			25
C Ordinary shares of £0.01 each		13,011			130			13,011			130
		25,511			255			25,511			255

Page 5