Rooster Sailing Limited - Abbreviated accounts 16.3

Rooster Sailing Limited - Abbreviated accounts 16.3

ROOSTER SAILING LIMITED - Company Information

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REGISTERED NUMBER: 04037973 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 30 September 2016

for

Rooster Sailing Limited

Rooster Sailing Limited (Registered number: 04037973)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Rooster Sailing Limited

Company Information
for the Year Ended 30 September 2016







DIRECTORS: S Cockerill
C Shaw
L C Morrison
Ms K Healey





SECRETARY: C Shaw





REGISTERED OFFICE: F2/F3 Fort Wallington Ind Est
Military Road
Fareham
Hampshire
PO16 8TT





REGISTERED NUMBER: 04037973 (England and Wales)





ACCOUNTANTS: Robert Sadler & Company Ltd
Chartered Accountants
30B Southgate
Chichester
West Sussex
PO19 1DP
Page 1
Rooster Sailing Limited (Registered number: 04037973)

Abbreviated Balance Sheet
30 September 2016

30.9.16 30.9.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 21,200 31,600
Tangible assets 3 20,148 19,155
Investments 4 755 -
42,103 50,755

CURRENT ASSETS
Stocks 510,194 491,028
Debtors 322,320 152,313
Cash at bank and in hand 47,015 61,821
879,529 705,162
CREDITORS
Amounts falling due within one year 104,693 183,610
NET CURRENT ASSETS 774,836 521,552
TOTAL ASSETS LESS CURRENT
LIABILITIES
816,939
572,307

CREDITORS
Amounts falling due after more than one year - 96,909
NET ASSETS 816,939 475,398

CAPITAL AND RESERVES
Called up share capital 5 186 135
Share premium 565,914 259,965
Profit and loss account 250,839 215,298
SHAREHOLDERS' FUNDS 816,939 475,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 notes form part of these abbreviated accounts

Page 2 continued...
Rooster Sailing Limited (Registered number: 04037973)

Abbreviated Balance Sheet - continued
30 September 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 26 June 2017 and were signed on its behalf by:





S Cockerill - Director


The notes form part of these abbreviated accounts

Page 3
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 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 income from nautical activities.

Goodwill
Goodwill acquired at a cost of £50,000 is being amortised evenly over its estimated remaining useful life of ten years, at
£5,000 per year, as from the year ended 30th September 2008 .Goodwill of £27,000 relating to a business acquired in the
year ended 30th September 2015 is being written off over a five year period at the rate of £5,400 per year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance and 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost and 20% on cost
Computer equipment - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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 the profit and loss account in the period to which they relate.

Page 4 continued...
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2016

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015
and 30 September 2016 77,000
AMORTISATION
At 1 October 2015 45,400
Amortisation for year 10,400
At 30 September 2016 55,800
NET BOOK VALUE

At 30 September 2016 21,200
At 30 September 2015 31,600

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015 153,509
Additions 9,392
Disposals (59,963 )
At 30 September 2016 102,938
DEPRECIATION
At 1 October 2015 134,354
Charge for year 8,395
Eliminated on disposal (59,959 )
At 30 September 2016 82,790
NET BOOK VALUE
At 30 September 2016 20,148
At 30 September 2015 19,155

Page 5 continued...
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2016

4. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
Additions 755
At 30 September 2016 755
NET BOOK VALUE
At 30 September 2016 755

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.16 30.9.15
value: £    £   
186 Ordinary 1 186 135
(30.9.15 - 135 )

51 Ordinary shares of 1 each were allotted as fully paid at a premium of £5,999 per share during the year.

Page 6