No Stress Yachting Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC456592 (Scotland)

Abbreviated Accounts

for the Period 1 September 2014 to 31 January 2016

for

No Stress Yachting Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J A Johnston

J N Johnston

REGISTERED OFFICE:

c/o IDS & CO

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

REGISTERED NUMBER:

SC456592 (Scotland)

ACCOUNTANTS:

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

FIXED ASSETS

Tangible assets

2

-

33,447

CURRENT ASSETS

Debtors

360

7,291

Cash at bank and in hand

4,015

3,863

4,375

11,154

CREDITORS

Amounts falling due within one year

42,274

78,544

NET CURRENT LIABILITIES

(37,899

)

(67,390

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,899

)

(33,943

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(37,999

)

(34,043

)

SHAREHOLDERS' FUNDS

(37,899

)

(33,943

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 October 2016 and were signed on its behalf by:

J N Johnston - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has a net deficit on the balance sheet. The financial statements have been prepared on a going

concern basis which assumes that the company will continue in operational existence in the foreseeable

future.The directors consider this to be the appropriate basis to use as they will continue to provide funds to

support the business and to ensure the company is meeting its debts as they fall due.

Accounting convention

The financial statements 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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

37,163

Disposals

(37,163

)

At 31 January 2016

-

DEPRECIATION

At 1 September 2014

3,716

Eliminated on disposal

(3,716

)

At 31 January 2016

-

NET BOOK VALUE

At 31 January 2016

-

At 31 August 2014

33,447

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.8.14

value:

£

100

Ordinary

£1

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st January 2016 there was a total due to Norman Johnston of £39,343 (2014 - £30,500). During the period

Mr A Gibson resigned as a director and was repaid his director loan balance in full.