Broadland Marine Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05748769

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Broadland Marine Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G S Travis

Mr W S Farnell FCCA

REGISTERED OFFICE:

Evolution House

Iceni Court

Delft Way

Norwich

Norfolk

NR6 6BB

REGISTERED NUMBER:

05748769

ACCOUNTANTS:

Farnell Clarke Limited

Evolution House

Delft Way

Norwich Airport

Norwich

Norfolk

NR6 6BB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

41

58

41

58

CURRENT ASSETS

Inventories

6

65

65

Debtors

7

2,674

5,355

Cash at bank

10,360

26,101

13,099

31,521

CREDITORS

Amounts falling due within one year

8

12,577

26,243

NET CURRENT ASSETS

522

5,278

TOTAL ASSETS LESS CURRENT LIABILITIES

563

5,336

CREDITORS

Amounts falling due after more than one year

9

-

10,264

NET ASSETS/(LIABILITIES)

563

(4,928

)

CAPITAL AND RESERVES

Called up share capital

10

500

500

Retained earnings

63

(5,428

)

SHAREHOLDERS' FUNDS

563

(4,928

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 30 November 2017 and were signed on its behalf by:

Mr G S Travis - Director

1.	STATUTORY INFORMATION

Broadland Marine Limited is a private company, limited by shares ,

registered in Not specified/Other. 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.

Turnover

Revenue is measured at the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales

taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial

recognition, intangible assets are measured at cost less any accumulated

amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after

making due allowance for obsolete and slow moving items.

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 statement

of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have

originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 March 2016

and 28 February 2017

18,500

AMORTISATION

At 1 March 2016

and 28 February 2017

18,500

NET BOOK VALUE

At 28 February 2017

-

At 29 February 2016

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2016

and 28 February 2017

2,733

2,033

4,766

DEPRECIATION

At 1 March 2016

2,678

2,030

4,708

Charge for year

14

3

17

At 28 February 2017

2,692

2,033

4,725

NET BOOK VALUE

At 28 February 2017

41

-

41

At 29 February 2016

55

3

58

6.	INVENTORIES

28.2.17

29.2.16

£

£

Payments on account

65

65

7.

DEBTORS

28.2.17

29.2.16

£

£

Amounts falling due within one year:

Other debtors

500

500

Directors' current accounts

14

3,052

Deferred tax asset

357

-

871

3,552

28.2.17

29.2.16

£

£

Amounts falling due after more than one year:

H Daniels loan account

1,803

1,803

Aggregate amounts

2,674

5,355

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade creditors

-

276

Client accounts

9,294

25,750

Tax

1,717

(559

)

VAT

1,566

776

12,577

26,243

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

29.2.16

£

£

P Farnell Loan

-

10,000

W Farnell loan

-

264

-

10,264

Amounts falling due in more than five years:

Repayable otherwise than by instalments

P Farnell Loan

-

10,000

W Farnell loan

-

264

-

10,264

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.17

29.2.16

value:

£

£

500

Ordinary

£1.00

500

500

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G S Travis.

13.	FIRST YEAR ADOPTION

The company has transitioned from UK GAAP to FRS102 Section1A as at 1 March

2016, no adjustments were required to the 2016 accounts to meet the new

standards.