Winchester Marine And Industrial Limited - Accounts to registrar (filleted) - small 18.2
Winchester Marine And Industrial Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED (REGISTERED NUMBER: 08705743) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Avebury House |
| St Peter Street |
| Winchester |
| Hampshire |
| SO23 8BN |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED (REGISTERED NUMBER: 08705743) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED (REGISTERED NUMBER: 08705743) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Winchester Marine And Industrial Limited is a |
| 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 |
| Preparation of consolidated financial statements |
| The financial statements contain information about Winchester Marine And Industrial Limited as an |
| individual company and do not contain consolidated financial information as the parent of a group. The |
| company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to |
| prepare consolidated financial statements. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
| depreciation and impairment losses. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| Basic financial instruments are initially measured at the transaction price, unless the arrangement |
| constitutes a financing transaction, when it is measured at the present value of the future repayments |
| discounted at a market rate of interest for a similar debt instrument. Debt instruments are |
| subsequently measured at amortised cost. |
| 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. |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED (REGISTERED NUMBER: 08705743) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to |
| property | property | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED (REGISTERED NUMBER: 08705743) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Amounts owed by group undertakings |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | CONTINGENT LIABILITIES |
| During the year the company sold a trading property and has claimed provisional rollover relief. |
| Therefore there is a contingent tax liability of approximately £100,000 pending reinvestment of the |
| property sales proceeds. |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2018 and |
| 31 March 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The loan to the company from the Director is interest free and repayable on demand. |
| 10. | RELATED PARTY DISCLOSURES |
| The freehold property was let rent free to the subsidiary company, Winchester Marine Ltd, until it was |
| sold in the year. |
| During the year monies totalling £1,259,923 were received on behalf of Winchester Marine Ltd and |
| Winchester Marine Ltd received funds on its behalf totalling £495,614. Winchester Marine made |
| payments on behalf of the parent company of £771,511 and payments of £2,384,424 were made by |
| Winchester Marine & Industrial to Winchester Marine Ltd. The balance owed by the parent |
| undertaking as at 31 March 2018 was £2,370,573 (2017: £1,521,968). |
| 11. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
| The company purchased Extreme Marine Unit, Southampton for £350,000 on 11 April 2018. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| WINCHESTER MARINE AND INDUSTRIAL LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's |
| annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
| only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
| other primary statements and the Report of the Director are not required to be filed with the Registrar |
| of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Winchester Marine And Industrial Limited for the year ended 31 March 2018 which |
| comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Winchester Marine And Industrial Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Winchester Marine And Industrial Limited and state those matters that we have agreed to state to the director of Winchester Marine And Industrial Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Winchester Marine And Industrial Limited and its director for our work or for this report. |
| It is your duty to ensure that Winchester Marine And Industrial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Winchester Marine And Industrial Limited. You consider that Winchester Marine And Industrial Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Winchester Marine And Industrial 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 financial statements. |
| Chartered Accountants |
| Avebury House |
| St Peter Street |
| Winchester |
| Hampshire |
| SO23 8BN |