TOPSAIL_EVENTS_AND_CHARTE - Accounts

TOPSAIL EVENTS & CHARTERS LIMITED - Company Information

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Company Registration No. 3277427 (England and Wales)

TOPSAIL EVENTS AND CHARTERS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

TOPSAIL EVENTS AND CHARTERS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

TOPSAIL EVENTS AND CHARTERS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

7,699

30,160

Current assets

Stocks

2,525

3,000

Debtors

6,860

249,059

Cash at bank and in hand

3,860

18,783

13,245

270,842

Creditors: amounts falling due within one year

(246,426)

(206,784)

Net current (liabilities)/assets

(233,181)

64,058

Total assets less current liabilities

(225,482)

94,218

Creditors: amounts falling due after more than one year

(4,736)

(12,857)

Provisions for liabilities

(1,172)

(4,323)

(231,390)

77,038

Capital and reserves

Called up share capital

Profit and loss account

(231,392)

77,036

Shareholders' funds

(231,390)

77,038

TOPSAIL EVENTS AND CHARTERS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2013

- 2 -

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 29 September 2014

Mr M J B Tower

Director

Company Registration No. 3277427

TOPSAIL EVENTS AND CHARTERS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

- 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).

The financial statements have been prepared on a going concern basis which assumes that the company will continue to receive financial support from its director and trade creditors.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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

Barge

5% straight line

Fixtures, fittings & equipment

33 % straight line

Motor vehicles

25% reducing balance

1.5

Stock

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

1.6

Deferred taxation

Deferred tax 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.

TOPSAIL EVENTS AND CHARTERS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2013

89,506

Additions

1,041

Revaluation

(26,740)

At 31 December 2013

63,807

Depreciation

At 1 January 2013

59,346

On disposals

(6,574)

Charge for the year

3,336

At 31 December 2013

56,108

Net book value

At 31 December 2013

7,699

At 31 December 2012

30,160

Debtors

Debtors include an amount of £0 (2012 - £139,895) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £8,120 (2012 - £8,120).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £4,736 (2012 - £12,857).

TOPSAIL EVENTS AND CHARTERS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 5 -

Share capital

2013

2012

Allotted, called up and fully paid

2 Ordinary shares of £1 each