Topsail Charters Limited - Accounts to registrar - small 17.1

Topsail Charters Limited - Accounts to registrar - small 17.1

TOPSAIL CHARTERS LIMITED - Company Information

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REGISTERED NUMBER: 03704341 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2017

for

Topsail Charters Limited

Topsail Charters Limited (Registered number: 03704341)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

Topsail Charters Limited

Company Information
for the Year Ended 31 January 2017







DIRECTORS: S J Valentine
P A Jeffries
Miss L Jeffries





SECRETARY: S J Valentine





REGISTERED OFFICE: 2 High Street
Burnham on Crouch
Essex
CM0 8AA





REGISTERED NUMBER: 03704341 (England and Wales)





ACCOUNTANTS: Harvey Smith & Co Limited
Chartered Certified Accountants
2 High Street
Burnham on Crouch
Essex
CM0 8AA
Page 1
Topsail Charters Limited (Registered number: 03704341)

Balance Sheet
31 January 2017

31.1.17 31.1.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,994 45,234

CURRENT ASSETS
Debtors 5 21,230 29,700
Cash at bank and in hand 36,450 32,252
57,680 61,952
CREDITORS
Amounts falling due within one year 6 23,330 28,489
NET CURRENT ASSETS 34,350 33,463
TOTAL ASSETS LESS CURRENT
LIABILITIES
76,344
78,697

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 76,342 78,695
SHAREHOLDERS' FUNDS 76,344 78,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 May 2017 and were signed on its behalf by:





P A Jeffries - Director


The notes form part of these financial statements

Page 2
Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

Topsail Charters Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 January 2017 are the first financial statements that comply with
FRS 102 Section 1A small entities. The date of transition is 1 February 2015.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting
policies to those used previously. The nature and impact of these changes, if applicable, are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - amortised over life of lease
Plant and machinery etc - 25% on cost, 15% on cost and 5% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

Page 3 continued...
Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2016 17,000 81,013 98,013
Additions - 1,410 1,410
At 31 January 2017 17,000 82,423 99,423
DEPRECIATION
At 1 February 2016 17,000 35,779 52,779
Charge for year - 4,650 4,650
At 31 January 2017 17,000 40,429 57,429
NET BOOK VALUE
At 31 January 2017 - 41,994 41,994
At 31 January 2016 - 45,234 45,234

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade debtors 12,861 24,552
Other debtors 8,369 5,148
21,230 29,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade creditors 7,598 12,976
Taxation and social security 3,632 3,458
Other creditors 12,100 12,055
23,330 28,489

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £15,200 (2016 - £4,000) were paid to the directors .

During the course of the year the company purchased goods and services from its following associated
companies:

Blackwater Barge Company Limited - £150,539 (2016 £129,486)
Blackwater Catering Limited - £67,209 (2016 £57,069)
Reminder (1929) Limited - £60,259 (2016 £47,774)
Thistle (1895) Limited - £114,549 (2016 £88,729)

At the balance sheet date the following amounts were owed by the company to its associated companies:

Blackwater Barge Company Limited - £Nil (2016 £772)
Blackwater Catering Limited - £377 (2016 £1,663)
Reminder (1929) Limited - £1,828 (2016 £Nil).

Page 4 continued...
Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

8. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mrs S Valentine and Mr P Jeffries by virtue of their shareholdings
and directorships.

9. FINANCIAL IMPACT OF TRANSITION TO FRS 102 SECTION 1A

Following the transition to FRS 102 Section 1A there have been no adjustments made to the prior year
comparatives.

Page 5
Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Topsail Charters Limited

The following reproduces the text of the report prepared for the directors and members in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Topsail Charters Limited for the year ended 31 January 2017 which comprise the Income
Statement, Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Topsail Charters Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Topsail Charters Limited and state those matters that we have agreed to state to the Board of Directors of Topsail Charters Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Topsail Charters 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 Topsail Charters Limited. You consider that Topsail Charters Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Topsail Charters Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Harvey Smith & Co Limited
Chartered Certified Accountants
2 High Street
Burnham on Crouch
Essex
CM0 8AA


18 May 2017

This page does not form part of the statutory financial statements

Page 6