ASHBY BOAT COMPANY LIMITED - Abbreviated accounts

ASHBY BOAT COMPANY LIMITED - Company Information

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Registered number

05760492

ASHBY BOAT COMPANY LIMITED

Abbreviated Accounts

31 March 2016

DOWSETT MOORE

Chartered Accountants

HINCKLEY

Leicestershire

ASHBY BOAT COMPANY LIMITED
Registered number:		05760492
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Intangible assets	2		-			25,000
Tangible assets	3		162,639			178,078
			162,639			203,078
Current assets
Stocks		12,400			11,500
Debtors		6,211			7,637
Cash at bank and in hand		27,405			36,791
		46,016			55,928

Creditors: amounts falling due within one year		(106,540)			(91,519)

Net current liabilities			(60,524)			(35,591)

Total assets less current liabilities			102,115			167,487

Creditors: amounts falling due after more than one year			(39,029)			(104,858)

Provisions for liabilities			(32,408)			(35,455)

Net assets			30,678			27,174

Capital and reserves
Called up share capital	4		2			2
Profit and loss account			30,676			27,172

Shareholders' funds			30,678			27,174

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



A W Walton
Director
Approved by the board on 8 September 2016

ASHBY BOAT COMPANY LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Leasehold improvements			Over life of lease
	Boats			10% reducing balance
	Fixtures, fittings and equipment			10% reducing balance
	Computer equipment			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Intangible fixed assets					£

	Cost
	At 1 April 2015					250,000
	At 31 March 2016					250,000

	Amortisation
	At 1 April 2015					225,000
	Provided during the year					25,000
	At 31 March 2016					250,000

	Net book value
	At 31 March 2016					-
	At 31 March 2015					25,000


3	Tangible fixed assets					£

	Cost
	At 1 April 2015					575,227
	Additions					3,440
	At 31 March 2016					578,667

	Depreciation
	At 1 April 2015					397,149
	Charge for the year					18,879
	At 31 March 2016					416,028

	Net book value
	At 31 March 2016					162,639
	At 31 March 2015					178,078


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2