Learn2Sail Ltd

LEARN2SAIL LIMITED - Company Information

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Registered number: 6581011

Learn2Sail Ltd

Abbreviated accounts

For The Year Ended 31 March 2016

Hobbs Thomas & Company LLP

Certified Public Accountants

Office 2 Lock & Leave

Marshwood Close

Canterbury

Kent

CT1 1DX

Learn2Sail Ltd

Company No. 6581011

Abbreviated Balance Sheet 31 March 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		10,207		12,758

			10,207		12,758
CURRENT ASSETS
Debtors		16,578		-
Cash at bank and in hand		1,779		-

		18,357		-
Creditors: Amounts Falling Due Within One Year		(238,170 )		(235,331 )

NET CURRENT ASSETS (LIABILITIES)			(219,813 )		(235,331 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(209,606 )		(222,573 )

Creditors: Amounts Falling Due After More Than One Year	3		(49,783 )		(27,670 )

NET ASSETS			(259,389 )		(250,243 )

CAPITAL AND RESERVES
Called up share capital	4		120		120
Profit and Loss Account			(259,509 )		(250,363 )

SHAREHOLDERS' FUNDS			(259,389 )		(250,243 )

Learn2Sail Ltd

Company No. 6581011

Abbreviated Balance Sheet (continued) 31 March 2016

For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mrs Jane Sanders

19th December 2016

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Learn2Sail Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% REDUCING BALANCE
Fixtures & Fittings	20% REDUCING BALANCE

1.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2. Tangible Assets


	Total
Cost	£
As at 1 April 2015	110,055

As at 31 March 2016	110,055

Depreciation
As at 1 April 2015	97,297
Provided during the period	2,551

As at 31 March 2016	99,848

Net Book Value
As at 31 March 2016	10,207

As at 1 April 2015	12,758

3. Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Net obligations under finance lease and hire purchase contracts	24,783	27,670
Bank loans	25,000	-

	49,783	27,670

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Learn2Sail Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2016

4. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	120	120	120

5. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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