Highspeed Ferries Limited - Accounts to registrar - small 17.2
Highspeed Ferries Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| FOR |
| HIGHSPEED FERRIES LIMITED |
| HIGHSPEED FERRIES LIMITED (REGISTERED NUMBER: 07239159) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HIGHSPEED FERRIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cornelius House |
| 178-180 Church Road |
| Hove |
| East Sussex |
| BN3 2DJ |
| HIGHSPEED FERRIES LIMITED (REGISTERED NUMBER: 07239159) |
| BALANCE SHEET |
| 31ST MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 its behalf by: |
| HIGHSPEED FERRIES LIMITED (REGISTERED NUMBER: 07239159) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Highspeed Ferries Limited is a |
| 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 on the going concern basis on the assumption of the |
| continued support of Mr Packer pending a first investment round. |
| Significant judgements and estimates |
| No significant judgements have had to be made by the directors in preparing these financial |
| statements. |
| Licences |
| Licences are stated at cost and will be amortised when brought in to use and are subject to annual |
| impairment reviews. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable, loans from banks |
| and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each |
| reporting period for objective evidence of impairment. If objective evidence of impairment is found, an |
| impairment loss is recognised in profit or loss. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property |
| and equipment, are reviewed to determine whether there is an indication that an asset may be |
| impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group |
| of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated |
| and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the |
| asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit |
| or loss. |
| 3. | INTANGIBLE FIXED ASSETS |
| Licences |
| £ |
| COST |
| At 1st April 2016 |
| and 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| HIGHSPEED FERRIES LIMITED (REGISTERED NUMBER: 07239159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Payments on account | 227,170 | 227,170 |
| VAT |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Director's loan | 540,000 | 540,000 |
| Accrued expenses |
| 6. | RELATED PARTY DISCLOSURES |
| As at the Balance Sheet date, J J L Packer, a director and shareholder is owed £540,000 (2016: |
| £540,000). |
| 7. | FIRST YEAR ADOPTION |
| The company adopted the provisions of Section 1A "Small Entities" of Financial Reporting Standard |
| 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" with effect from |
| 1st April 2015. There have been no transitional adjustments as a result of the adoption. |