MFV Vervine Limited - Period Ending 2017-05-31
MFV Vervine Limited - Period Ending 2017-05-31
Registration number:
MFV Vervine Limited
for the Period from 31 May 2016 to 31 May 2017
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG
MFV Vervine Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
MFV Vervine Limited
Company Information
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Directors |
Mr Allan MacLean Mr Michael McPhee Mr Calum Maclachlainn |
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Registered office |
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Accountants |
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Page 1 |
MFV Vervine Limited
Directors' Report for the Period from 31 May 2016 to 31 May 2017
The directors present their report and the financial statements for the period from 31 May 2016 to 31 May 2017.
Incorporation
The company was incorporated on
Directors of the company
The directors who held office during the period were as follows:
Principal activity
The principal activity of the company is operating the fishing vessel MFV Vervine
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
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Mr Calum Maclachlainn
Director
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Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MFV Vervine Limited
for the Period Ended 31 May 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MFV Vervine Limited for the period ended 31 May 2017 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of MFV Vervine Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MFV Vervine Limited and state those matters that we have agreed to state to the Board of Directors of MFV Vervine Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MFV Vervine Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MFV Vervine Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of MFV Vervine Limited. You consider that MFV Vervine Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of MFV Vervine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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1 Aldersyde
Taynuilt
Argyll
PA35 1AG
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Page 3 |
MFV Vervine Limited
Profit and Loss Account for the Period from 31 May 2016 to 31 May 2017
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Note |
Total |
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Turnover |
- |
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Operating profit/(loss) |
- |
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Profit/(loss) before tax |
- |
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Profit/(loss) for the financial period |
- |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
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Page 4 |
MFV Vervine Limited
Statement of Comprehensive Income for the Period from 31 May 2016 to 31 May 2017
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Note |
2017 |
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Profit/(loss) for the period |
- |
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Total comprehensive income for the period |
- |
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Page 5 |
MFV Vervine Limited
(Registration number: SC536691)
Balance Sheet as at 31 May 2017
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Note |
2017 |
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Current assets |
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Cash at bank and in hand |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial period ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Mr Calum Maclachlainn
Director
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Page 6 |
MFV Vervine Limited
Statement of Changes in Equity for the Period from 31 May 2016 to 31 May 2017
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Share capital |
Total |
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New share capital subscribed |
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At 31 May 2017 |
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Page 7 |
MFV Vervine Limited
Notes to the Financial Statements for the Period from 31 May 2016 to 31 May 2017
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Page 8 |
MFV Vervine Limited
Detailed Profit and Loss Account for the Period from 31 May 2016 to 31 May 2017
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31 May 2016 to 31 May 2017 |
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Turnover (analysed below) |
- |
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Operating profit/(loss) |
- |
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Profit/(loss) before tax |
- |
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Page 9 |