Thornton Shipbrokers Ltd

THORNTON SHIPBROKERS LIMITED - Company Information

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Registered number: 01177124

Abbreviated accounts

For The Year Ended 31 July 2016

One Plus One Ltd

34/36 Fore Street

Bovey Tracey

Devon

TQ13 9AE

Thornton Shipbrokers Ltd

Company No. 01177124

Abbreviated Balance Sheet 31 July 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		25,245		25,713
Tangible Assets	3		1,207,049		618
Investments	4		1,675,574		52,934

			2,907,868		79,265
CURRENT ASSETS
Debtors		8,086		6,734
Cash at bank and in hand		18,755		6,767

		26,841		13,501
Creditors: Amounts Falling Due Within One Year		(469,706 )		(31,771 )

NET CURRENT ASSETS (LIABILITIES)			(442,865 )		(18,270 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,465,003		60,995

NET ASSETS			2,465,003		60,995

CAPITAL AND RESERVES
Called up share capital	5		2,401,000		1,000
Revaluation reserve			5,506		(2,134 )
Profit and Loss Account			58,497		62,129

SHAREHOLDERS' FUNDS			2,465,003		60,995

Thornton Shipbrokers Ltd

Company No. 01177124

Abbreviated Balance Sheet (continued) 31 July 2016

For the year ending 31 July 2016 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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

Mr Gordon Southcott

30 April 2017

Page 1

Thornton Shipbrokers Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 July 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 April 2008).

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. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.

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

Leasehold	1.3% straight line
Plant & Machinery	10% reducing balance
Fixtures & Fittings	15% reducing balance

1.5. Investment properties

Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.

Investment properties shall be included in the balance sheet at their market value.

2. Intangible Assets


	Total
Cost	£
As at 1 August 2015	36,009

As at 31 July 2016	36,009

Amortisation
As at 1 August 2015	10,296
Provided during the period	468

As at 31 July 2016	10,764

Net Book Value
As at 31 July 2016	25,245

As at 1 August 2015	25,713

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Thornton Shipbrokers Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 July 2016

3. Tangible Assets


	Total
Cost	£
As at 1 August 2015	8,349
Additions	1,206,500

As at 31 July 2016	1,214,849

Depreciation
As at 1 August 2015	7,731
Provided during the period	69

As at 31 July 2016	7,800

Net Book Value
As at 31 July 2016	1,207,049

As at 1 August 2015	618

4. Investments

	Listed	Unlisted	Total
	£	£	£
Cost
As at 1 August 2015	184	52,750	52,934
Additions	1,615,000		1,615,000
Revaluations		7,640	7,640

As at 31 July 2016	1,615,184	60,390	1,675,574

Provision
As at 1 August 2015	-	-	-

As at 31 July 2016	-	-	-

Net Book Value
As at 31 July 2016	1,615,184	60,390	1,675,574

As at 1 August 2015	184	52,750	52,934

Page 3

Thornton Shipbrokers Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 July 2016

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1000	1,000	1,000

Ordinary B shares	1.000	2400000	2,400,000	-




		2401000	2,401,000	1,000

	Nominal value	Number	Amount

Shares issued during the period:	£		£
Ordinary B shares	1.000	2400000	2,400,000

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