Vista Marine Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00312737 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

VISTA MARINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Cook

SECRETARY:

Mrs V Cook

REGISTERED OFFICE:

Vantage Point

10 Granville Road

St. Margaret's Bay

Dover

Kent

CT15 6DR

REGISTERED NUMBER:

00312737 (England and Wales)

ACCOUNTANTS:

Michael Martin Partnership limited

Chartered Certified Accountants

64 High Street

Broadstairs

Kent

CT10 1JT

BANKERS:

NatWest

PO Box 209

Sittingbourne

Kent

ME10 4EQ

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

1,375,000

1,375,000

1,375,000

1,375,000

CURRENT ASSETS

Debtors

6

104,475

212,801

Cash at bank

213,498

118,219

317,973

331,020

CREDITORS

Amounts falling due within one year

7

43,792

46,957

NET CURRENT ASSETS

274,181

284,063

TOTAL ASSETS LESS CURRENT LIABILITIES

1,649,181

1,659,063

PROVISIONS FOR LIABILITIES

8

162,707

171,271

NET ASSETS

1,486,474

1,487,792

CAPITAL AND RESERVES

Called up share capital

9

38,250

38,250

Revaluation reserve

10

1,229,719

1,229,719

Retained earnings

10

218,505

219,823

SHAREHOLDERS' FUNDS

1,486,474

1,487,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 14 July 2017 and were signed by:

Mr P Cook - Director

1.	STATUTORY INFORMATION

Vista Marine 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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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 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 3 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2016

and 30 April 2017

3,189

DEPRECIATION

At 1 May 2016

and 30 April 2017

3,189

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

1,375,000

NET BOOK VALUE

At 30 April 2017

1,375,000

At 30 April 2016

1,375,000

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 1998

464,348

Valuation in 2014

392,005

Cost

518,647

1,375,000

If investment properties had not been revalued they would have been included at the following historical

cost:

30.4.17

30.4.16

£

£

Cost

518,647

518,647

Investment properties were valued on an open market basis on 17 July 2013 by Caxtons and George Webb Finn LLP

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Sundry debtors

20,000

200,000

Directors' current accounts

71,674

-

Other Debtors -S455 tax

12,801

12,801

104,475

212,801

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Tax

20,244

18,787

Social security and other taxes

(1,206

)

(1,236

)

Directors' current accounts

-

5,710

Accruals

24,754

23,696

43,792

46,957

8.	PROVISIONS FOR LIABILITIES

30.4.17

30.4.16

£

£

Deferred tax

162,707

171,271

Deferred

tax

£

Balance at 1 May 2016

171,271

Provided during year

(8,564

)

Balance at 30 April 2017

162,707

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

34,250

Ordinary

£1

34,250

34,250

4,000

A Ordinary

£1

4,000

4,000

38,250

38,250

Ordinary shares of £1 each carry voting rights of one vote per share. "A" Ordinary shares of £1 each

carry no rights or privileges as to voting. Apart from this distinction the shares rank pari passu.

"B" Ordinary redeemable shares of £1 each rank pari passu with the "A" Ordinary shares.

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2016

219,823

1,229,719

1,449,542

Profit for the year

90,057

90,057

Dividends

(91,375

)

(91,375

)

At 30 April 2017

218,505

1,229,719

1,448,224

11.	CONTINGENT LIABILITIES

The Company has not carried out an environmental survey on the land which it owns and previously

used in its normal course of trade. No provision has been made in respect of any liability that may arise

from any such contamination or any associated costs thereof.