Company Registration No. 08729866 (England and Wales)
STARBOARD VENTURES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
STARBOARD VENTURES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
STARBOARD VENTURES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,317
5,789
Current assets
Debtors
209,118
76,159
Cash at bank and in hand
316,060
343,118
525,178
419,277
Creditors: amounts falling due within one year
(52,571)
(29,543)
Net current assets
472,607
389,734
Total assets less current liabilities
476,924
395,523
Provisions for liabilities
(864)
(1,158)
476,060
394,365
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
476,058
394,363
Shareholder's funds
476,060
394,365
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 8 June 2017
Mr Roger Iliffe
Mrs Ildiko Iliffe
Director
Director
Company Registration No. 08729866
STARBOARD VENTURES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
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 represents amounts receivable for consultancy services supplied to customers outside the UK and are outside the scope of UK VAT and accord with UITF 40.consultancy services supplied to customers outside the UK and are outside the scope of UK VAT and accord with UITF 40.
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 less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
30% Reducing balance
Fixtures, fittings & equipment
15% Reducing balance
1.4
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015 & at 31 October 2016
10,311
Depreciation
At 1 November 2015
4,522
Charge for the year
1,472
At 31 October 2016
5,994
Net book value
At 31 October 2016
4,317
At 31 October 2015
5,789
STARBOARD VENTURES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
2
2
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