|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 28th February 2017 |
|
for |
|
Glass Eels Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 28th February 2017 |
|
for |
|
Glass Eels Limited |
Glass Eels Limited (Registered number: 02441662) |
|
|
|
|
|
|
Contents of the Financial Statements |
For The Year Ended 28th February 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Report of the Accountants | 6 |
Glass Eels Limited |
|
Company Information |
For The Year Ended 28th February 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Accountants |
& Statutory Auditors |
Kings Buildings |
Lydney |
Gloucestershire |
GL15 5HE |
Glass Eels Limited (Registered number: 02441662) |
|
Balance Sheet |
28th February 2017 |
|
28.2.17 | 29.2.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 7 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings | 9 |
|
|
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
|
|
|
|
|
|
Glass Eels Limited (Registered number: 02441662) |
|
Notes to the Financial Statements |
For The Year Ended 28th February 2017 |
|
1. | STATUTORY INFORMATION |
|
Glass Eels Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover comprises the sales to customers during the year. |
|
|
Tangible fixed assets |
|
Freehold property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
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. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Glass Eels Limited (Registered number: 02441662) |
|
Notes to the Financial Statements - continued |
For The Year Ended 28th February 2017 |
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st March 2016 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 28th February 2017 |
|
|
|
|
|
DEPRECIATION |
At 1st March 2016 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 28th February 2017 |
|
|
|
|
|
NET BOOK VALUE |
At 28th February 2017 |
|
|
|
|
|
At 29th February 2016 |
|
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | PROVISIONS FOR LIABILITIES |
28.2.17 | 29.2.16 |
£ | £ |
Deferred tax | 10,333 | 15,110 |
|
Deferred |
tax |
£ |
Balance at 1st March 2016 |
|
Credit to Income Statement during year | ( |
) |
Balance at 28th February 2017 |
|
Glass Eels Limited (Registered number: 02441662) |
|
Notes to the Financial Statements - continued |
For The Year Ended 28th February 2017 |
|
8. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.17 | 29.2.16 |
value: | £ | £ |
|
Ordinary | £1 | 750 | 750 |
|
9. | RESERVES |
Retained |
earnings |
£ |
|
At 1st March 2016 |
|
Profit for the year |
|
At 28th February 2017 |
|
|
10. | RELATED PARTY DISCLOSURES |
|
During the year the company conducted the following transactions with Bristol Channel Fisheries Ltd, a |
company in which it own's 50% of the shares, and in which the director owns the balance of the shares. |
|
Management Charges and Expenses £NIL (2016 £25,000) |
|
These transactions were made on an arms length basis during the normal course of trading. |
|
There was £567,788 (2016 £574,501) due by the company to Bristol Channel Fisheries Ltd at the year end. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is E J P Wood. |
|
The ultimate controlling party is
|
Glass Eels Limited |
|
Report of the Accountants to the Director of |
Glass Eels Limited |
|
The following reproduces the text of the report prepared for the director and members 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. |
|
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28th February 2017 set out on pages two to five and you consider that the company is exempt from an audit. |
|
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
|
|
|
|
|
|
|
Accountants |
& Statutory Auditors |
Kings Buildings |
Lydney |
Gloucestershire |
GL15 5HE |
|
|
Date: 3rd May 2017 |