Traditional Shipwright Services Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05757556 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

TRADITIONAL SHIPWRIGHT SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Frearson

P R Kendall

SECRETARY:

P R Kendall

REGISTERED OFFICE:

1 Townsend Park

North Street

Bere Regis

Wareham

BH20 7LA

REGISTERED NUMBER:

05757556 (England and Wales)

ACCOUNTANTS:

Graham Latham Limited

Hedge House

Hangersley Hill

Ringwood

Hampshire

BH24 3JW

FIXED ASSETS

Tangible assets

4

2,676

1,660

CURRENT ASSETS

Stocks

27,500

27,500

Debtors

5

10,380

13,162

37,880

40,662

CREDITORS

Amounts falling due within one year

6

28,200

30,937

NET CURRENT ASSETS

9,680

9,725

TOTAL ASSETS LESS CURRENT LIABILITIES

12,356

11,385

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

12,354

11,383

SHAREHOLDERS' FUNDS

12,356

11,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 1 December 2017 and were signed on its behalf by:

P R Kendall - Director

1.	STATUTORY INFORMATION

Traditional Shipwright Services Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 etc

-

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.

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 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

5,977

Additions

1,908

At 31 March 2017

7,885

DEPRECIATION

At 1 April 2016

4,317

Charge for year

892

At 31 March 2017

5,209

NET BOOK VALUE

At 31 March 2017

2,676

At 31 March 2016

1,660

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

10,380

13,162

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

2,577

797

Trade creditors

2,139

3,240

Taxation and social security

16,634

15,722

Other creditors

6,850

11,178

28,200

30,937

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £23,000 were paid to the directors .

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T Frearson and Mr P Kendall.