Yacht Sales Limited - Abbreviated accounts 16.3
Yacht Sales Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Accounts |
| for the Year Ended 31 August 2016 |
| for |
| Yacht Sales Limited |
| Yacht Sales Limited (Registered number: 08567922) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 August 2016 |
| Page |
| Company Information | 1 |
| Chartered Accountant's Report | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 5 |
| Yacht Sales Limited |
| Company Information |
| for the year ended 31 August 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Chartered Accountant's Report to the Director |
| on the Unaudited Financial Statements of |
| Yacht Sales Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the |
| financial statements of Yacht Sales Limited for the year ended 31 August 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet, the Cash Flow Statement, the Statement of Total Recognised Gains and Losses and the |
| related notes from the company's accounting records and from information and explanations you have given me. |
| As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Yacht Sales Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Yacht Sales Limited and state those matters that I have agreed to state to the director of Yacht Sales Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Yacht Sales Limited director for my work or for this report. |
| It is your duty to ensure that Yacht Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yacht Sales Limited. You consider that Yacht Sales Limited is exempt from the statutory audit requirement for the year. |
| I have not been instructed to carry out an audit or a review of the financial statements of Yacht Sales Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
| Date: ............................................. |
| Yacht Sales Limited (Registered number: 08567922) |
| Abbreviated Balance Sheet |
| 31 August 2016 |
| 31.8.16 | 31.8.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| CURRENT ASSETS |
| Debtors | 3 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Yacht Sales Limited (Registered number: 08567922) |
| Abbreviated Balance Sheet - continued |
| 31 August 2016 |
| The financial statements were approved by the director on |
| Yacht Sales Limited (Registered number: 08567922) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 August 2016 |
| 1. | ACCOUNTING POLICIES |
| 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 goods, excluding value added tax, except in respect of service |
| contracts where turnover is recognised when the company obtains the right to consideration. |
| Goodwill |
| Taxation |
| Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of items of |
| income and expenditure in taxation computations in periods different from those in which they are included in |
| the financial statements. A deferred tax asset is only recognised when it is more likely than not that the asset will |
| be recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing |
| differences can be deducted. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| Additions |
| At 31 August 2016 |
| AMORTISATION |
| At 1 September 2015 |
| Amortisation for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| Yacht Sales Limited (Registered number: 08567922) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 August 2016 |
| 3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.16 | 31.8.15 |
| value: | £ | £ |
| Ordinary | £1 |