Rooster Sailing Limited - Accounts to registrar (filleted) - small 18.1

Rooster Sailing Limited - Accounts to registrar (filleted) - small 18.1

ROOSTER SAILING LIMITED - Company Information

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REGISTERED NUMBER: 04037973 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2017

for

Rooster Sailing Limited
Rooster Sailing Limited (Registered number: 04037973)






Contents of the Financial Statements
for the Year Ended 30 September 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Rooster Sailing Limited

Company Information
for the Year Ended 30 September 2017







DIRECTORS: S Cockerill
C Shaw
L C Morrison





SECRETARY: C Shaw





REGISTERED OFFICE: F2/F3 Fort Wallington Ind Est
Military Road
Fareham
Hampshire
PO16 8TT





REGISTERED NUMBER: 04037973 (England and Wales)





ACCOUNTANTS: Robert Sadler & Company Ltd
Chartered Accountants
30B Southgate
Chichester
West Sussex
PO19 1DP
Page 1
Rooster Sailing Limited (Registered number: 04037973)

Abridged Balance Sheet
30 September 2017

30.9.17 30.9.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,800 21,200
Tangible assets 5 43,692 20,148
Investments 6 755 755
55,247 42,103

CURRENT ASSETS
Stocks 630,475 510,194
Debtors 310,760 322,320
Cash at bank and in hand 93,688 47,015
1,034,923 879,529
CREDITORS
Amounts falling due within one year 184,710 104,693
NET CURRENT ASSETS 850,213 774,836
TOTAL ASSETS LESS CURRENT
LIABILITIES
905,460
816,939

CAPITAL AND RESERVES
Called up share capital 186 186
Share premium 565,914 565,914
Retained earnings 339,360 250,839
SHAREHOLDERS' FUNDS 905,460 816,939

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these financial statements

Page 2 continued...
Rooster Sailing Limited (Registered number: 04037973)

Abridged Balance Sheet - continued
30 September 2017


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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 May 2018 and were signed on its behalf by:





S Cockerill - Director


The notes form part of these financial statements

Page 3
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Financial Statements
for the Year Ended 30 September 2017

1. STATUTORY INFORMATION

Rooster Sailing 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.

Turnover
Turnover represents income from nautical activities.

Goodwill
Goodwill acquired at a cost of £50,000 is being amortised evenly over its estimated remaining useful life of ten years, at
£5,000 per year, as from the year ended 30th September 2008 .Goodwill of £27,000 relating to a business acquired in the
year ended 30th September 2015 is being written off over a five year period at the rate of £5,400 per year.

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.

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 - 33% on cost, 25% on reducing balance, 25% on cost and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks 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 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.

Page 4 continued...
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.
Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2016
and 30 September 2017 77,000
AMORTISATION
At 1 October 2016 55,800
Amortisation for year 10,400
At 30 September 2017 66,200
NET BOOK VALUE

At 30 September 2017 10,800
At 30 September 2016 21,200

Page 5 continued...
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2016 102,938
Additions 30,062
At 30 September 2017 133,000
DEPRECIATION
At 1 October 2016 82,790
Charge for year 6,518
At 30 September 2017 89,308
NET BOOK VALUE
At 30 September 2017 43,692
At 30 September 2016 20,148

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 October 2016
and 30 September 2017 755
NET BOOK VALUE
At 30 September 2017 755
At 30 September 2016 755

Page 6 continued...
Rooster Sailing Limited (Registered number: 04037973)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

7. RELATED PARTY DISCLOSURES

Rooster Sailing Inc

A company in which Rooster Sailing Ltd owns 100% of the share capital.

During the year, Rooster Sailing Ltd sold goods and services to Rooster Sailing Inc amounting to £65,965 (previous year
£29,601). The goods and services were supplied at open market values.

As at 30th September 2017 Rooster Sailing Inc owed the company £165,430. This amount is included in "Trade Debtors".

Below are extracts of the Profit and Loss account and Balance Sheet of Rooster Sailing Inc for the year ended 30th
September 2017:-

Profit and Loss Account: USD GBP
$ £
Sales 142,588 112,490
Cost of sales (66,007) (52,074)
Gross Profit 76,581 60,416
Other Income - -
Expenditure (66,483) (52,449)
Net Profit/(Loss) $10,098 £7,967

Balance Sheet: USD GBP
$ £
Fixed Assets - -
Current Assets 193,534 144,256
Current Liabilities (Due < 1 year) (218,633) (162,964)
Net Current Assets (25,099) (18,708)
Long term liabilities - -
Net Assets/(Liabilities) $(25,099) £(18,708)
Capital and Reserves:

Called up share capital 1,000 745
Retained Earnings (26,099) (19,453)
Shareholders Funds $(25,099) £(18,708)

Page 7