South Coast Mussels Limited - Period Ending 2018-09-30

Registration number: 03238554

South Coast Mussels Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

Harney & Co Limited
Chartered Certified Accountants
21 Market Place
Blandford Forum
Dorset
DT11 7AF

South Coast Mussels Limited

Profit and Loss Account for the Year Ended 30 September 2018

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

South Coast Mussels Limited

(Registration number: 03238554)
Balance Sheet as at 30 September 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	40,000	40,000
Creditors: Amounts falling due within one year	4	(27)	(27)
Net assets		39,973	39,973
Capital and reserves
Called up share capital	5	40	40
Profit and loss account		39,933	39,933
Total equity		39,973	39,973

For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 18 October 2018
 

.........................................

Mr CJ Verspoor
Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

South Coast Mussels Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
21 Market Place
Blandford Forum
Dorset
DT11 7AF

These financial statements were authorised for issue by the director on 18 October 2018.

2	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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold Property	0%

Page 3

South Coast Mussels Limited

Notes to the Financial Statements for the Year Ended 30 September 2018 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Financial instruments

Classification
The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.
 
 

3	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 October 2017	40,000	40,000
At 30 September 2018	40,000	40,000
Depreciation
Carrying amount
At 30 September 2018	40,000	40,000
At 30 September 2017	40,000	40,000

Included within the net book value of land and buildings above is £40,000 (2017 - £40,000) in respect of freehold land and buildings.
 

Page 4

South Coast Mussels Limited

Notes to the Financial Statements for the Year Ended 30 September 2018 (continued)

4

Creditors

	2018 £	2017 £
Due within one year
Other payables	27	27

5	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary of £1 each	40	40	40	40

6	Parent and ultimate parent undertaking

The ultimate controlling party is C J Verspoor.

Page 5