Burlort Limited - Period Ending 2015-12-31

Registration number: 02252383

Burlort Limited
 
  Abbreviated Accounts
 
  for the Year Ended 31 December 2015
 

Brooks Green
  Accountants
  Abbey House
  342 Regents Park Road
  London
  N3 2LJ

Burlort Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Burlort 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 Burlort Limited for the year ended 31 December 2015 set out on pages 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 Burlort 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 Burlort Limited and state those matters that we have agreed to state to them, 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 Burlort Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Burlort 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 Burlort Limited. You consider that Burlort 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 Burlort 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.

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

Brooks Green
Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

26 September 2016

Page 1

Burlort Limited
(Registration number: 02252383)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					764,710			724,710
Tangible fixed assets					248,227			329,039
					1,012,937			1,053,749
Current assets
Debtors					57,524			74,087
Cash at bank and in hand					949,636			889,631
					1,007,160			963,718
Creditors: Amounts falling due within one year					(1,204,794)			(1,182,533)
Net current liabilities					(197,634)			(218,815)
Net assets					815,303			834,934
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					815,203			834,834
Shareholders' funds					815,303			834,934

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 26 September 2016 and signed on its behalf by:

...................................................... M Regueira Gonzales Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Burlort 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.

Amortisation

The fishing licence is not amortised.

Asset class	Amortisation method and rate
Fishing licence	Nil

Depreciation

Over the estimated useful life of the vessel.

Asset class	Depreciation method and rate
Fishing vessel & equipment	10% RB

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Burlort 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		724,710			808,124			1,532,834
Additions		40,000			-			40,000
At 31 December 2015		764,710			808,124			1,572,834
Depreciation
At 1 January 2015		-			479,085			479,085
Charge for the year		-			80,812			80,812
At 31 December 2015		-			559,897			559,897
Net book value
At 31 December 2015		764,710			248,227			1,012,937
At 31 December 2014		724,710			329,039			1,053,749

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4